You make some good points and I cannot disagree because none of us really know if Cliffs has to go that far. When you refer to my estimation of 2 0r 3 more cents, I should have been more clear that this was what I expect them to do with their next move. Yes!, if they have to they will go higher. I do agree 100% they want this ore body very badly. But I think too many may take the money and run.

Where we may differ is how much higher they will HAVE to go. Mineralfields seems to think 19 cents is good enough. I do not think they would turn a chance down for more if they could get it. They may get more because of us anyway, but noway near what some hope for. There are some SPQ stockholders very concerned that many who claim to hold out for more and defeat this offer, will suffer the fate of FWR. They write one thing here while selling and running with their money. I still can't believe that FWR holders sold out that cheaply. But they did. So, once bitten and I'm a bit shy.

I have voted for the merger because I hope you might be right after another move or two. The idea of CLF shares would probably be their only recourse. With shaky markets I doubt they want to be cash poor. I would not look for another suitor either. CLF has too much of a hold and another suitor would have to ante up too much. Remeber Teck almost had the buisquit when they bought coal for too much and then the markets tanked. Too many investors like myself will take far less than you suggest and CLF will win the day.

That doesn't mean I like it. But that is how markets work. I'd love to be wrong and would welcome another note from you saying......I told you so! I do appreciate your comments.