0.45 would be the number for me.

- N/S route

- Large high quality Chromite holdings

- Patent for Gas reduction process

Cliffs ONLY had the Chromite, and while obviously that is the end goal, the money earned worldwide from the gas reduction method would dwarf earnings from the Chromite if you look at the big picture. KWG ends up being more valuable, but strategically it makes total sense that Cliffs Chromite was acquired considering the amount of it, and the dire situation KWG found itself in.

KWG will never go the way of Cliffs, they will keep the lights on no problem as they don't have the crushing debt Cliffs had.

Guess what.....NOT has all the pressure too, because they have to pay back this loan to FN within a short time frame and frankly if KWG holds things up for them, the pressure will be on to make something happen.

The smokescreen is that nickel is what will be mined first and they can go it alone on that, but its all just a cover. The Feds and Franco Nevada has already gone on record that the ROF is about the Chromite, and you need KWG for this.

NOT will have to pay up, which is not a bad thing.