I think technically cliffs is making smart moves by playing KWG against SPQ but ultimately I believe it will come back to bite them. They still have to work out agreements with FN, how do you think that will go after they see how cliffs manipulated FWR and SPQ\Kwg shareholders? You can bet they will be very leary of cliffs when negotiations begin. If they would just treat everyone fairly they will still get everything they want at a very big discount and make tons of money in the near future. Now they risk alienating many players. It's a sad comentary about greed.