I decided to have a look at Spider's Interim Financial Statement  (on SEDAR) issued June 30, 2007.  I wanted to get a feel for outstanding stock options and warrants at that time.  Stock options and warrants can impact the movement of share price.

There were 21,482,386 stock options with a weighted exercise price of 13 cents.  Expiry dates run from March 18, 2008 to July 25, 2011.

There were 43,856,354 warrants outstanding with an exercise price of 10 cents.  Expiry dates run from October 20, 2007 to March 16, 2009.

The above numbers do not include the recent private placement (PP) of 20 million flowthrough units (1 share + 1 warrant) priced a 9 cents which must be held for 2 years and can then be exercised at 17.5 cents.

My understanding of stock options, warrants, and flowthrough shares is far from complete; however, iit seems to me that most are given to Board members and Directors or sold to companies like Spott Asset Management.  They can be used to reward corporate members; and further, are sold to companies like Sprott who want to buy into risky and speculative exploration companies.  Sprott seems to have a good track record in this regard.

It's nice to see Spider running strongly this morning.  I, too, hope for a great return on my investment.  It is a high-risk high-reward company.  But as noted previously the fact is that there is "stuff" in the ground; and I'm betting on high grades of both base and precious metals.

GLTA today.