The market action today confirms to me what I have thought for the last several weeks to be the probable strategies. First, CLF got FWR relatively unchallenged. Had there been a serious (major) competitor, they would have appeared to counter for FWR. That tells me that the most likely source of buying for SPQ/KWG is also CLF , who also is not directed to deep mining. I have concluded that FWR/SPQ will likely find a final home before NOT, and that by default would likely be CLF. The $64 question, is "will CLF have any compulsion to make a move on NOT if/once they get KWG/SPQ" ? I expect that CLF will not move on NOT mostly because they are not directed to deep mining and the price is too steep for incremental Cr resource that cannot be turned into cash for many years.. That takes me to hope that NOT could attract the capital (or partner) to move on these peripheral plays now to assure the critical mass of resources later. Ultimately, all the resources will get developed, but NOT's primary challenge today is to attract a JV major early enough that the peripheral resources available will provide the growth platform that justifies the front end risk/cost. This is admittedly early days for the RoF, but a significant challenge now lies with NOT to wrestle the centre of gravity back from CLF or to otherwise attempt to entice CLF or other major to a JV. Otherwise , money in NOT may be relatively comatose for a while until a more compelling resource picture emerges (which we all believe will happen, but with heightened time risk). All constructive discussion would be welcome.