I've made the comment a number of times that Spider Resources (SPQ) is part of a large Canadian Area Play - the Ring of Fire (ROF). And that this area play is presently a PGE (platinum group of elements) area play. (Nickel & copper and the other base metals are also very important but will have their focus latter on.)

Someone on the NOT board commented on the rather pathetic share price increase of 1 cent after the latest SPQ-FWR-KWG news release of great drill results.

Why? This is a big question.

One possible reason is that SPQ is tightly tied to the larger and more complex question of the slowly evolving scene of the Great Canadian Area Play. There are over 20 junior miners, numerous joint ventures, and a bunch of "majors" skulking around trying to do their due diligence. On top of all of this are a bunch of assay labs trying to get assays completed for numerous miners. And, on top of all that, are the challenges of logistics of getting into a relatively remote part of Ontario, Canada.

At Voisey's Bay in the early days, there was just Diamond Fields. Eventually, Inco and Falconbridge became interested. And although remote, Voisey's Bay in Labrador was relatively easy to access. Voisey's Bay, by comparison to the Ring of Fire, was a relatively simple exploration play to consider and evaluate. Moreover, Voisey's Bay was about nickel. The ROF is about PGEs and nickel.

Since Noront Resources is the flagship of the ROF area play, Spider Resources share price is in part dependent on how Noront moves forward. It seems very clear that Noront has an excellent play in its Double Eagle project. But it is captive to the assay labs and is waiting for assay results from both Eagle 1 and Eagle 2.

Finally, it is my opinion that SPQ's share price will complement NOT's share price in a strong move upward when both companies get their assays. They don't necessarily need to get their assays at the same time, but if Noront gets its assays followed by Spider's, this would be the ideal scenario. And this scenario would underline the area play nature of the Ring of Fire. Hopefully this will happen in the next month.

Simply my opinions and not investment advice.

Snug