Anyone who's watched CBC's Dragon's Den, or the US equivalent (Shark Tank) knows where I'm going with this. It's an entrepreneurial show about people with companies and/or ideas that want to make it big, and pitch their ideas to very rich, shrewd, potential individual investors. They aren't called Dragons and Sharks for nothing.

To me, SPQ, KWG and other ROF companies are like those companies that show up on the show and have a fabulous idea or an amazing product.

They stand up there, tell the Dragon's what they have, give their own interpretation of what the valuation of their company is, what they want for a certain percentage of it, and see what happens.

The first thing the Dragon's (or Sharks) do with a great find is say that the valuation is way, way out to lunch. They might admit it's a great idea, even a great product, but that you have nothing,..... yet.

They then (if it's a great idea/product) try and convince you that you need the Dragon's help to realize the potential of your company. So they offer next to nothing to gain control of the company and help develop it into something huge.

At this point the smart pitchman realizes he has something really good, turns down the offer, sticks to his guns, thanks the Dragons for their time and opinions and develops his company to a point where he can re-pitch with hard evidence and numbers to back-up his evaluation.

We need to make sure we hang on till Cliffs actually gives us what we want and deserve for the companies involved, because, like on the show, this has an unbelievable amount of potential, proven and un-proven, yet not yet physically realized.

So, I'm sure Hoovs evaluation is pretty close, but in my opinion, the more we wait to get bought out, the more we are worth, even without a "white knight" coming to the rescue.

You'll also notice on the show, when more than 1 Dragon or Shark is interested they will turn on each other and the deals do get sweeter.

So let's not get burned or bit in this deal, if you know what I mean.
Drew2222