"...I think it profoundly unfortunate in many ways that FWR didn't go with NOT..."

You're certainly not alone with these toughts, my friend. But sometimes I feel lonesome with my new NOT shares and warrants. Amazing to see that such a small number of FWR shares have been tendered to NOT. This would have been THE way to win over the Cleveland, Ohio, grownup, and at least to try something creative!

However, even if all the detail shareholders who voted NO on January 25th had tendered their shares to NOT, the merger would not be (28MM + 12MM over 258MM). Anyways.

We missed the train, I think, in the sense that the future of our other holdings in the ROF is more uncertain. Infrastructures are coming. Fine. But I would have preferred another scenario instead of Cliffs taking the lead. In my dreams, I saw my SPQ, KWG, UC, BMK, FNC, and other positions changing names during the course of a merger process made at slow pace, ending as one last entry in my portfolio: a unique position in a true canadian grownup corporation that became a ten-bagger or more from the beginning... Dream this was... Neil Novak's unexpected chromite (chromite?!?) discovery changed the way it would look up there...

I'm quite sure that many FWR shareholders who entered that impossible battle against Cliffs to get 15$ a share (!!!) are having some regrets, and feel that their ROF penny-stocks may be losing some weight.

The Cliffs-FWR takeover story could have be called "For a few dollars more".

On a positive note, ROF undergrounds seems full of surprises and unexpected finds. And the Ni Motherlode is yet to be hit. So keep the drills turning, up there, the Uncle Sam's guy is far from alone !

GLTA.

BB.