For some posters that insist on getting a bigger offer on their FWR from Cliffs - a post from Shakey on Trading Chief outlines what I have been thinking for some duration. A higher bid from Cliffs will not happen. Nor will NOT release their 43-101 on their chromite.

I will emphasize the following while disregarding the grades/size/etc of chromite deposits - since no company has their 43-101 released yet.

NOT has chromite deposits.
FWR has chromite deposits.

NOT has sulphides with Ni/Cu/and PGMs.
FWR does not have sulphides

Publicly Cliffs is bidding for FWR due to A chromite deposit.
A Cliffs bid for FWR places a value on A chromite deposit in the absence of any 43-101.
The Cliffs "bid induced value on chromite" can then be added to NOTs stock price.
Therefore, anytime Cliffs raises their bid, NOT should rise accordingly. This is because the value associated with each companies chromite deposits is speculative due to the lack of 43-101s, and therefore the value affixed to each chromite deposit should be similar. Assumptions - yes.

This is why Cliffs will be smart enough to not create another bid for NOT - and it is up to NOT to increase the price of their stock by releasing data INDEPENDENT of chromite results. It is a double edge sword - if NOT releases their 43-101 on their chromite deposit - it will give some value to FWR. If NOT releases deep massive sulphide data with PGMS from Eagle's Nest (something FWR doesn't have) - NOT will rise independent of FWR and the rest will be history.

WW