Is it realistic that an offer would be a 70% increase over 3 month average? If Noront is currently close to a 3 month average. So perhaps 154,908,872 added to 221,298,389 = $376,207,261 offer or $2.142 per share before battle for voter approval.

If there is an offer, I doubt it's coming from Cliffs, unless they feel Blackbird is worth 376mil -more then FWR and SPQ put together. Is Blackbird larger then both of them? They're not after the nickel. If such a takeover were in the works, Wes will team with Fancamp in some way first.

Perhaps there's an offer coming for Probe. Perhaps Probe had help doubling their SP to increase the 3 month average. this would be something close to .50c. So add 70% comes to .85c x os 36,602,581 = $31,112,193 before investor approval. Plus Palmer bought several shares prior to SP launch which might indicate protectionism from a hostile.

While were at it, there's some speculation that Cliffs has been waiting for FNC sp to drop after a second no-ore News Release to launch a hostile takeover. However, Smith doesn't think Cliffs wants Magpie. Perhaps they want FNC's 17.5% of Champion, and FNC is a cheap way to get that nice percentage of 1 bil tons easy iron. Fancamp came up with no chromite on last NR, although Harvey and Smith think it's still under. But FNC isn't going to spend more money to find it. So a lowball 3month average of .45, plus 70% increase times OS = $35,383,382 before shareholder battle. That's an offer for a lot of unknowns.

Where do I get 70% increase? Just seems right based on Cliffs FWR and SPQ offers.

If a takeover were in the works, what actions would one's CEO be taking right now, and is Wes taking them? perhaps he is. He's been awfully sweet to his retail friends recently, should he need us to veto a hostile offer.

Ya'll can rework my 3 month averages as I know they're off.

-sg