People need to let go of the idea that the railhead location will dictate where the mine is going to be.

The entire ROF area is going to be using the same railway when the individual mines (yes, mines) open up. There will probably not even be trunk lines strung all over, since that is too pricey compared to trucking the material the 20km or so to the rail. Rail lines are best left straight as possible, but weaving through the bogs once they are off the height of land will best be left to the big haul trucks.

If you have paid attention to the KO discussions, Big Daddy is just in the start of the bog section, which means that every km of rail becomes increasingly expensive.

Even more to the point, what is the linear distance between Big Daddy and Black Label/Thor? Big Daddy lies in the middle distance from Noront's Eagle complex to the FWR/CLF sites...

What puzzles me is why KWG stock hasn't outpaced SPQ. KWG owns the rail route, and Cliff already owns 20% of them, so they are a more likely buyout target.

Personally, I think Cliff is waiting for the Canadian taxpayer to pay for a good chunk of the infrastructure, or at least commit such funding, before they make their move. With some luck, maybe another company who isn't quite as lazy will jump in and try to steal the deal.