JD-great recap
The part I had a little concern with (as most FWR shareholders would) was the involvement of Cliffs in what the ext steps should be. As you pointed out both follow-up drilling and the 43-101 report are important to all shareholders to increase value and help ensure any take-out offer is fair.
Easier said then done but we have been through both the SPQ reverse split challenge and the bigger FWR takeover battle. Both have served to strenghten our resolve to get full value and with SPQ it is more persoanal because many of us have held shares and supported this stock for 5 or more years.
Good luck to us all