You said that CLF involvement has done nothing to increase shareholder value in the RoF. I for one saw tremendous value in CLF's involvement, because it was the first time any major or intermediate appeared strongly motivated to get openly involved in the RoF. As well, it protected itself with options etc. to go to 10%. I think we may be confusing CLF's involvement as a threat to NOT's ambitions. I asked myself this simple question: If CLF had not shown its face at FWR, would NOT have ever made this bid ? I think not. Were it a friendly bid, I think we could all see CLF as having been a raider of all RoF interests. Someone at FWR clearly sees something in CLF's participation whether they choose to increase that investment or not. But if the only effect is to bring other larger players to pay attention, we have certainly benefitted. Nobody knows where the next couple weeks will take us, but I expect all three companies to come out better off over two to three months. The market selloff may have victimised the timing of the bid, so we might also see the bid pulled. I'll feel real bad if CLF does not feel FWR worth what would be about 2% dilution to CLF.