Hey Laura,

Just wondering how you came to the conclusion that NOT would be an adversary to KWG.

It seems to me that they have the nickel, but that's 11 years at a very high production cost. If we have learned anything from NOT is that they (and their partners) are very cost conscious.

That leads me to believe that they would want to maximize their profits on both nickel and chromite deposits by:

1. possibly sharing the cost of the mine shaft for the Eagle and Black Horse mines;

2. negotiating the best possible deal for long term transportation rates on the eventual lowest cost option which is RR on the NS route;

3. negotiating the best possible deal on the gas process licensing rights so as to secure the long term profitability of the chromite not just the nickel for 11 years;

4. possibly benefitting from the deap pocketted partners that KWG will eventually bring to the table and save on the Big Daddy capital costs;

5. creating synergies between themselves, KWG, the FNs and the Govs so as to maximize the long term potential of these multi-generational chromite deposits and avoiding further delays.

I appreciate your posts a lot but I am not quite understanding your rationale on this one. I remember as recently as last fall, Bruce at KWG telling me that Frank and Allan Coutts (NOT's CEO for those who don't know him) were having a friendly relationship and lunch together one in a while.

All the best of luck to you and all KWG longs

Le Penseur