Some moderation of expectations is also presented in the article. It may be some time before we see a takeover (all text highlighting/italics added for emphasis):

The advantage of having a Canadian partner to navigate through a lengthy environmental assessment process and negotiations with First Nations may also persuade Cliffs Natural Resources to let KWG and Spider take the lead.

A move by Cliffs to acquire the remaining 80 per cent interest in KWG is also possible, "but that would take away some of our motivation to work as hard as we do," said Smeenk. "Having the motivation of equity upside for a Canadian partner suits their purpose because you can't develop a sense of urgency better than that."

If Cliffs decides to go it alone and develop its wholly owned Black Thor deposit, Big Daddy would likely sit idle for decades.

What KWG (and its recently created subsidiary, Canada Chrome Corp.) has and no one else has, which will keep us in the game no matter where the pit is, is a right-of-way for the construction of a railroad," said Smeenk.

Obviously, this story still has a lot of intrigue left.

GLTA