"Just a thought based on the retracted valuations of yesterday the KWG offer would certainly have seemed superior"

Those valuations are a very important piece of information, that coul serve for negociations, or be filed as exhibits in a judicial process. As well as the 'virtual visuals' from the recent drillings. But the Combination Agreement (section 6.2 I recall) asks for an appraisal of KWG offer that has to be looked 'from the shareholders' financial point of view'. So 0,19 cents bid being $ 125 000 000 cold cash as opposition to Valuations that are base on potential (rather than financial) values. That maybe the reason why the Spider Comittee has a hard time considering KWG amendments as outrating the Cliffs 19 cents bid.

However, there are grey zones in which Spider and KWG can work in order to make a deal. This is if, and only if, there is a real will from Spider Management to go ahead with KWG.

Eager to see who's at bat, now!

GLTA.

BaBe.