CLF will wait for the release of the 43-101 since they can't use their access to the data to buy out SPQ or KWG anyway, under insider information rules. I would guess that if they are going to put in a buyout offer, it will either come at the same time as the 43-101 news information is released, or they might wait for the euphoria to pass and wait for the stock to settle lower as a news vacuum occurs.