Let me make it very clear that I own KWG. I'm an investor and an owner. I've diversified my ROF holdings to include KWG. And I hope they help make me rich. I am not bad-mouthing them.

KWG's principle interest in the Ring of Fire is diamonds. Personally, I'm not all that keen on the diamond trade. It's a controlled industry. And it's difficult (at least from what I have observed) to crack into the business in Canada. Tahera Diamonds comes to mind.

Spider Resources, on the other hand, is principally into metals. The fact is that KWG and SPQ decided to split some time back because they couldn't agree on how to best finance and explore the ROF. KWG chose diamonds and SPQ chose metals. The lawyers drew up the papers, and that's how these two companies work together in their ROF JV. Basically they "agreed to disagree", and continue about their business.

What I have found fascinating lately are two things in this quirky JV between KWG and SPQ:

a) KWG signing up with Cliffs (which I don't think is into diamonds), and

b) SPQ now working a PP through IBK, and (as Babaoriley mentioned) on probably a "best effort basis" - but clearly someone big is behind the PP - and it's highly probable that the "big" is not Cliffs. But this "big" wants a chunk of SPQ.

Now I may be wrong in this, so tell me if I am, but if the "big" purchasing some of SPQ (on basically an open market) bought more that 10%, wouldn't they need to tell everyone? Is this the law in Ontario?

So what's the game?