I think it is a very real possibility that we may be embarking on another M & A multinational event where the giants in the mining industry rip the earth out from under our feet (literally). If NOT’s bid for FWR is successful, we and many other juniors in the ROF are going to find ourselves swimming with some very large sharks shortly thereafter. Can we defend ourselves? I can’t see the truly big boys letting NOT or even Cliff’s getting a foothold and keeping first man advantage in the Ring that would give them control of the chrome in NA and possibly curbing the existing consortium. If Cliff’s bid is successful, I’m afraid the writing is on the wall for the rest of the tiny companies operating in the ROF. Without consolidation within these small companies, the big fish are going to move in and take what they want for a song. The only question left at that point would be “What song?” It definitely won’t be O’Canada. Is Canada about to lose another great resource into foreign hands? Can we stop history from repeating itself or is it already too late? Have the back room deals already been done? It is on these yet to be answered questions that I post the following:

I’ve been trying to understand why our critical natural resources continue to be handed over to foreign ownership at such a tiny fraction of their worth as we complacently sit by and watch it happen. Is it that we as Canadians do not recognize the true value of our resources? Did you know that Canada’s largest companies by value and largest employers tend to be foreign owned in a way that is more typical of a developing nation than a G8 member. In 2006:approximately 34 Canadian companies were purchased by foreign interests worth 62 Billion dollars, nearly 4% of Canada's Market value.

Here is some of what was said after the CVRD/INCO fiasco:

(CVRD) is a global diversified mining company, the second largest mining company in the world, and the largest logistics operator in Brazil. (The purchase worth approximately (Cdn) $19 billion secured CVRD-Inco as the fifth largest nickel, copper, iron ore producer in the world.One of Canada's largest mining houses, INCO Ltd., is now under foreign control.

"The price was extremely cheap considering the grade assets and the great people," Mark Cutifani, COO of CVRD-Inco nickel operations says.

While this strengthened Brazil's international mineral position, it may have weakened Canada's status as a progressive force in the mining sector.

The combined organization (INCO/Falconbridge) would have been one of the world's premier mining and metals companies in both nickel and copper with one of the most attractive portfolios of low cost profitable growth projects.

The Provincial and Federal Governments sat on the side lines.

Xstrata Plc, which acquired a 20 per cent stake in Falconbridge the year before, emerged as the owner of Falconbridge.

"At the end of the day we were doing what was right for the shareholders ..."

I was not an investor/shareholder during that time but I am now and I have a small say in the future of Canada’s ROF resources. My small percentage of ownership will not be handed over willingly into foreign control. After much deliberation I settled on tendering 1/3 of my FWR shares yesterday to NOT, I sold 1/3 to cover my purchase cost and reduce risk and I kept 1/3 to vote against Cliffs take-over attempt. Sometimes it’s not just about the almighty dollar but about doing what we feel is right. Our national anthem says, “The True North strong and FREE”. I think the rest of the world is misinterpreting the meaning of this. Maybe it’s time we as Canadians start practicing “We stand on guard for thee”.

Just my two cents worth.