Having gone through the FWR sell-out to Cliffs and now following this battle very closely, It appears to me that Cliffs is exactly in the know of what the value is of what they are purchasing. In fact I believe that there is actually more there of different elements ie nickel... etc.

From this point of view, I see that CLF is very underhanded in that they don't want a valuation to come out of SPQ or of KWG, in the same manner that they treated FWR. In FWR's case I think there was collusion with FWR CEO and that the share holders were sold down the drain.

I can't see how the sharehoders of SPQ or KWG could think of accepting an offer from CLF without knowing what they have, nor that CLF could make an offer as it has without knowing what is actually there. To me pertinent information has just been kept hidden from us.

My vote is to merge and should Clfs call I will tell them a crative pipe story.

Here is to hanging in :)