JD- well thought out and explained. I would have to agree that there is some (probably a lot IMHO) of market impact by CLF in the trading of these two and possibly more ROF stocks.

That being said I have held SPQ a lot longer then any other ROF stock and after having lived through the FWR takeover, am not anxious to see CLF take out either SPQ or KWG as cheaply as they got FWR.

We do have a lot better chance of an upside in SPQ because of the relatively small CLF's holdings (that we are aware of) compared to total shares. Let's hope we hit something big pior to any offer and see a SP that will reflect a fair and reasonable return to retail shareholders who have financed SPQ for years - not just a few months.....

All the best to SPQ and KWG holders

PS: I will say I have been pleasantly surprised by the rise in the CLF shares since I got my buy-out.