Your question would be hard to answer at the best of times, which these are not. We just had the G this & G that meetings last weekend and very little of substance to show for the effort.

Several articles this morning. The Globe had a note on the Greek debt issue and suggested a different approach would bennefit all. Japan this week announced rising unemployment. Then there's an article about what the US could learn from Canada on CNN/FN. This one gives some sobering facts about Sovereign debt in Canada vs the U.S. and Britain. Not to mention some overseas markets are down 3 or 4%.

So as frustrating as this is to see our asset being sold off for pennies on the dollar, we need to look at some of the reasons. Last Fall some car dealerships in the states had to sell units for 1/2 price or give away a car if you bought a pickup truck. Must of hurt like hell. Sounds familiar eh!

Well to say that we should receive $1. ++ would be great but the reality is we are not selling into a strong market. So as we've witnessed the last few weeks there are many who will sell for 13 cents or 19 cents and obviously feel the risk & reward of staying the course is not there for them.

How many will hold out and for what price is the key. As Khareema' note said if we get by the Amalgamation then a higher price is almost a guaranty. I agree with him that Cliffs is very unlikely to get 50.1% of the shares at these prices.

A settle before the vote I believe will be less than 34 cents. Post Amalgamation/Merger 50 cents + posible short term.

Cylinders last post sums this up when he states the NSR will likely yield 3 cents or more per year in revenue. So the Merger is key here to realizing FMV.

I truly believe that KWG is trading at a 50% discount to pre merger (July7th) pricing. So as the vote draws nearer either this price will close with Spiders or we'll see a marked increase in Cliffs offer.

These are just my views and opinion.

A