In order to provide certainty to Freewest's shareholders, Cliffs will convert to a C$1.00 per share take-over bid for Freewest if Noront acquires more than 12.5% of Freewest shares"

How many believe Noront has more than 12.5%. If you are in that group why not buy more FWR at 97 cents and wait for your 3%?

How many believe Noront has less than 12.5%. If you are in that group you will get cliff shares worth 1 buck. Do you want to wait for these cliff shares or do you sell at 96-97 cents.?Most would sell & take cash rather that get the cliff shares.

If you believe Noront has 66 2/3 percent. You can tender your shares to Noront,or sell your freewest now and be out of it or buy noront with your proceeds, or sit and do nothing.

As a freewest share holder if you feel another compelling offer is coming in the eleventh hr, you buy more FWR and get ready for more pennies or you sit and do nothing and just wait.

You would think if Cliffs had it competely in the bag we'd see some more movement in FWR's share price.. either up or down based on what you believe NOT has for shares. I find the "unchanged amount" in FWR strange. There seems to be mucho uncertainty.