Job2...

Great to have you on board.  As noted by other posters, we have discussed your question numerous times.  It's an important question nonetheless, and far from trivial. 

It would certainly would be nice to have the same number of outstanding shares (27 million or so) as Fancamp (FNC), another junior at McFaulds (share price $1.50, market cap approx. $41 million ).  I don't know the history of exploration at McFaulds by FNC, but you can have a look at the claims map and find perhaps six claims.  Albeit, very important claims right next door to Noront's Double Eagle strike.

One thing about Spider Resources is the number of claims Neil Novak has at McFaulds.  Many, many more than FNC - I haven't counted but probably 10 times the number of claims).  But as you have found out, SPQ has close to 300 million outstanding shares (10+ times more than FNC) at 10.5 cents (market cap $30+ million).  The ratio of outstanding shares to share price is roughly the same.

However, if we think in terms of "tonnage" (mineral resources in the ground), it would seem that SPQ has perhaps 10 times the tonnage (if fact, maybe a 100 times).  Therefore, SPQ's share price should be at least $1.00.  Alas, that's certainly not the case.

Finally, Spider Resources is very liquid with many shares being traded every day.  This is extremely important for the investor.  Being caught with an illiquid speculative equity is murder.  Ironically, if you go out to the FNC Agoracom hub, you will read from posters about being concerned over the low volume of FNC shares.

If you're new into SPQ, buy some more.  I have bought shares from 3 cents to 17 cents.  Getting in at around 10 cents is a no-brainer.

Snug