I am under the impression that the offer was a prorated value of the 111M shares in CLF total package. CLF spent roughly 500M for the assets which includes BT, BLB, 70% BD, claims and 111M KWG shares. An offer for the prorated value of the shares in the ~$20M package would amount to a few hundred $ ks. Add 50% prenium on top of that would still be a lot less than $3-4M (the market value for 111M share plus 50%) which could be used for something else.

There was really no pressing need to have back these shares. Nothing has changed. It was CLF who was the owner, now it's NOT, the proud owner of the shares along with responsibilities/liabilities that came along with CLF assets.

BTW, any ideas how much the cost would be to keep hundreds of RoF claims in good standing?

goldhunter