This has already been said multiple times. There must be a good reason for it. If NOT wants to develop the PGM's first, enough cash flows in to buy out KWG before the Chromite is ever touched. Point is that time is now against this stance, no one wishes to wait longer than now strictly necessary. Total consolidation is a dream for NOT, they have gone further than expected through Cliffs' deal. Let's leave it that and offer KWG shareholders NOT shares to speed it up for once and for all. The animosity between the two has indeed delayed the process as well, both going for different options giving Authorities the possibility to differed from anything happening. It is the US vs. China now. Alan should go for the fastest player of the two. Without considering KWG.