I think you misunderstood the just of my post. Let me put it in simpler terms for you. If I (Cliffs)buy a section of land in which the previous owner (Freewest) had entered into a JV with you on a specific ¼ of that section and the contract states I have to respect the JV with you , It does not stop me from doing what I wish with the ¾ section I own. (Black Thor) Now if the entire section is rich in a resource and I can mine the ¾ section I own for the next 50 years or so without touching the ¼ you are entitled too, then this may limit the value of the ¼ section you have the JV in. Basically I am willing to mothball that ¼ section as I have enough of the resource (Black Thor) without developing the ¼ section you have an interest in. Now I realize that there is value in the ¼ you have an interest in, but if I (deep pockets, Cliffs) choose not to develop that ¼ section and supply the market with my ¾ section that leaves you out in the cold unless you have the funds to develop this yourself.

I am not stating Cliffs would do this, but it is a distinct possibility. They may want the whole thing right now and again this may be in the event other resources (Ni) are found on the ¼ joint venture property.

Actually it is 50% interest. Spider (25%)-KWG (25%)-FWR (50%) joint-venture property

Relic the Rookie.