K:

Savvy remarks as always. Lots of good questions to ponder and keep everyone focused and balanced on what's happening.

I don't think there'll be a competing bid for the chromite. I hope I'm wrong. Noront certainly won't. And we didn't hear from anyone else during the FWR fight. Cliffs knows the quality of the Big Daddy chromite, and eventhough they have FWR, they'll try to tie up SPQ. (Which as you know does have ties to Cliffs as a JV partner with the "Freewest Option" land. Just wanted to state this again since some don't seem to realize this.)

You mentioned the "integrity" of FWR management. I know Mac Watson personally. I like the man. But he's human. His wife wasn't too well. I'd have done the same thing. Just human nature. Will Neil Novak cave? Who knows. He's a little different, I think. Some extra pride there having really opened up the JBL. He's got a lot of pride. Will 30 cents make him happy? I wonder.

How many shares were traded last week? I know I saw a figure. 7%(?) of the outstanding shares? It seems to me that Cliffs is going to have to do a lot of horse trading in the next couple of weeks to get the shares they need before April 1st. (Although, what do we know about what they need?) So it should be fun. I'm guessing that the share price will be over 20 cents by then. And where would that leave Cliffs with a takeover bid? (Of course I'm making an assumption that Cliffs will make an offer after they've accumulated a ton of shares. They may not.)

I'm taking some profits on SPQ. Have never done this before. It would be silly not to. And perhaps Cliffs is picking up some of those I sell. But it's just as likely that a retail investor is doing so. We know from the postings on this board that others [retail] are new (or "re-new") into SPQ. So even if 5 million shares are traded in a day, Cliffs ain't buying all of them.

I've also decided to diversify a little more with this run up. I've never owned TBM. I do now. With the likes of Brodie, Nemis, and Harvey over there, it's likely that this ROF play will also run up nicely. Diversification is always a good thing. Especially if nickel in the picture.

I think you would agree, K, that everyone should have a smart strategy and price point where they want to exit - at least a few shares. Don't be pig-headed. Many (most?) of us are aware of what happened with the reverse takeover saga of SPQ, the Noront proxy fight, and the FWR takeover battle. Retail can win these fights. But it's far from easy. Emotions go nuts, and people don't necessarily think straight. As some sage said somewhere, "Pick your battles."

I hope all SPQ retail investors have a great week coming up.

Snug