I think that Cliffs has planned to be "thorn" in KWG's side ever since they didn't get their way with the road (mining commissioner's decision). By the time they got their appeal decision, it was too late for them. They were in a cashflow crunch that contiues to this day.

Now it's just a case of revenge. They will drag it out until they lose this decision and then pay costs by turning over the 111 million shares of KWG back to the company as compensation for time and opportunity lost. But is that enough?

I think all along, they were waiting on the possibility that "something" would happen that would allow them an opening, even if it was to sue the Ont Gov over the 600 million dollar promise for the private road.

For those of you who think that their situation in Quebec is going to affect their assets in the ROF, ask yourself this question: "If Frank was smart enough to segregate the KWG assets into different corporate entities to protect them, then would Cliffs actually hold its ROF assets inside of its "Bloom Lake General Partner Limited and certain of its affiliates, including Cliffs Quebec Iron Mining ULC (collectively, "Bloom Lake Group)" which is facing bankcrupty at the moment....not likely. Therefore it is my humble assumption, that it's creditor protection action in Quebec, will have no bearing on its ROF assets.

Now I do recognize that Cliffs shareholders may not look favorably on spending more money on the lawsuit (KWG granted leave to appeal in the Prov Court of Appeal) for ROF assets which the current Cliffs CEO has admitted won't be developped for another 50 years...especially at a time where Cliffs is cash poor and has recently had to eliminate its dividend.

If they are trying to avoid further costs in Canada (ex. 700 million closing costs on Bloom Lake), then they should just turn over their KWG shares back to the treasury at a value of .03 ($3.3 million), transfer their ownership of Big Daddy back to KWG at no cost, plus 25 million for loss of opportunity and delays, and scurry back to Cleveland with their tails between their legs.

Their presence in Canada has been reprehensible (synonyms: deplorable, disgraceful, discreditable, despicable, blameworthy, culpable, dishonorablwe, objectionable, opprobrious, repugnat, inexcusable, unforgivable, indefensible, unjustifiable, criminal, sinful, scandalous, iniquitous) and shameful at best. This could have been an incredible partnership story but instead their greed took over their goals. JMHO

Best of luck to all KWG longs

Le Penseur