Jacki contacted Wes a few weeks ago about this. Jacki, I hope you don't mind me reposting. Post is below:

"Sorry Gang..

Something went amiss in writing my last post...Several sentences disappeared! The

most important point in fact!

West stated that there is no need to have had the Shareholers Rights Plan in effect

because at any time in the future, should it seem necessary, such a plan could

be adopted immediately without any problem.

Jacki"

So I guess it seems necessary at this point? I would guess it is either because:

1. Good to great results are coming

2. A hostile offer is on the way

Any other possibilities?

So, with the price action and relatively low volume, is it safe to say that this rumor that started Friday is dead? Anyone hearing any different or anything more on this? Looks to me like it was just a rumor, for now.

This article just reminds me how undervalued we are. FWR bought out for $220 million, our current market cap is approx. $200 million. I could go into detail about how this doesn't add up, but we all know it doesn't. We are WAY undervalued at $1.14.

Some will say that FWR had 100 years (dont' quote me on that) of chromite, but past 20 years or so of supply, I don't think this really matters. And the market can only bare so much chromite supply. We have more than enough to supply a good chunk of chromite to the market and compete with Cliffs and possibly drive down prices, which Cliffs would not want of course. When you add to this our nickle and PGE's, we are worth more than FWR.

The fact we can steal some of the chromite market away from Cliffs if they build the infrastructure for us, makes me think they will either offer for our Chromite or take us out completely.

Also, the prebids this morning went crazy for a while. Is it possible someone thought news would be coming before the open and put in a big bid, realized they would have more time to buy before the news, and pulled the bid?

Just thinking out loud...

Thanks for the number BB!

Maybe I'm naive to the cost of deep drilling, but can someone explain to me how you spend approx $45 million on drilling in 11 months?!?

I think we're going to get a low ball offer in thje $2.50 range and we are being held down until the offer is made so they can say the offer is at a 67% premium on the average of the last xx trading days. I am just guessing, speculating.

And from there I hope a bidding war begins.