I just got my call and had a ten minute conversation with the chap from CLF. The first thing he asked was if I had already voted. I evaded the question and asked him what advantage I had by tendering to Cliffs. He said something about if the merge goes through CLF may pull their offer!! I said if I thought that I could sell right now on the open market and why would I then worry about whether SPQ and KWG merge at all. The CLF rep had no answer. Next was how could I benefit by NOT having a merger between two small companies that would then control a multi-billion dollar resource. His answers showed he was not ready for this line of questioning and when I told him between myself and friends controlled a substantial holding in SPQ ( I mentioned to him how many) and that we would never give up controlling interest in a multi billion dollar resource if we could help it. Went on to say I hope SPQ gets to phoning investors and I would do everything possible to getting the word out to vote for the merge when all CLFs is offering is a miserable, niggardly $.19 but the thing we most want is another company to step in and offer us something much more fair than what CLF is doing and it would give me a huge amount of satisfaction to see that happen and watch CLF squirm.
