Profitz,

Check out my musing from after midnight that I published in the wee hours of the morning. I talk about the Cliff cash offer and why I believe it was made. In a nutshell, the NOT news release yesterday evening concerning the legality of the special meeting (in terms of the date of record and ability of Cliff's to vote their shares) forced FWR and Cliffs to scrap the agreement requiring shareholder approval and make a $1 cash tender for any FWR shareholders who are game.

I believe it was a quick way to back out of a very awkward and potentially costly legal quicksand the FWR board found themselves in.

The benefit for everyone involved with FWR, including Noront who will hold tendered shares is that regardless of how the share price trades from here on out, Cliff is on the hook to pay $1 a share cash as it is likely Noront will have 12.5% of shares tendered to them. Warren alone represents that many and wishes to avoid a tax exposure. I agree with you in that I think this is close to over. It all depends on how many shares Noront controls at the end of this week.

M1.