Noront Resources

Frank Smeenk's KWG Resources Inc. (KWG) closed unchanged at three cents on 2.74 million shares. Mr. Smeenk seems thrilled that Al Coutts's Noront Resources Ltd. (NOT: $0.59) is buying the huge Ring of Fire chromite project in Northern Ontario from Cliffs Natural Resources Inc. (CLF: $5.07 (U.S.)). Big Cliffs and puny KWG have been huffing and puffing at each other for years, continuing their court spats even after Cliffs abruptly mothballed its project late in 2013. "This is positive news for us," said Mr. Smeenk, a Toronto-lawyer turned stock promoter who probably felt like the bullied schoolkid who just heard his nemesis was moving away. He said that Mr. Coutts has already invited KWG to discuss plans to develop their properties in partnership with the local first nations, adding that he believes KWG and Noront can pursue transportation and processing options in a more constructive and collaborative fashion with the Canadian and Ontario governments and the first nations constituencies. (Mr. Smeenk's brief burst of enthusiasm neatly lists the issues and villains that prompted Cliffs to mothball the major project, then sell it for $20-million - just pennies on its investment dollar.)