You betcha! And that is nothing compared to what you may see if NOT's bid is possibly being supported by an undisclosed major. What they will do is wait until CLF has made some sort of declared position or counter. Then, they will push the NOT stock price skyward, pointing out to FWR how great a deal they'd be getting with NOT stock. I expect to see it taken to $2.50 or more in any event to paint this bid. Unless CLF IS that undisclosed major, CLF's paper will likely dominate in a simple counter. If CLF is that undisclosed major, the NOT numbers are eventually going to get much higher based on a followup by CLF (and perhaps a CLF jv partner) for the combined NOT. And this is a very simple scenario ! We have opened a big can of big worms , all with $ signs on them, and I can only guess all holders will enjoy the ride. And in reality, what exactly could the TSX do without miring the whole commercial/legal process. This is a brilliant move by our Board. The only downside is if FWR shareholders walk away with a bundle of CLF paper, but here NOT gains a chromite market as well as infrastructure support, significantly enhancing NOT's present value. We will be happy regardless ! BTW, our Board knows exactly what it is doing and this is a great move to ferret out any other majors who may not have declared their interest in NOT. By playing dead, the TSX is also encouraging a reasonably fluid auction process.
