That is how I felt after a dat over at the FWR board. I now know how Lance & Hoov feel after trying to bring some reality to that gang. After a bunch of back & forth the discussion was moved over to the OT.
Here is my final salvo into the frey. I thought it might be a good start as to where we see FWR/CLF, 43-101, trading & hedgies going. Clearly the post was not OT, just not wanted over there.
BB
I hold a lot more FWR than NOT even on the 7/2 or cash basis. I just think that we need to be a bit more strategic then 'just say no' and CLF will bump it's bid. Show me where, in the absence of another bid' they have said they will continue to increase their bid. Take a look at the claim map! Plenty of land in the ROF & FWR has very little, only 4 100% claims.
Strategically, if I were CLF I might be more inclined to work with KWG mgt to starve out SPQ UC and even FWR by forcing $$ spending on the 43-101's. Remember that on September 30 FWR was a whopping 24 cents. Right now you have to look at the trading and wonder what the thinking is on both sides. Are hedgies buying because they have a back room price of $1.10 cash or are they playing for 4 cents. They aren't playing to get stuck with CLF shares. Who is selling at 97 if there is so much blue sky.
I'm just suggesting that we consider all sides of the situation, not just the one that says that CLF will pay $2 or whatever.
BB
