I received this email from Neil this a.m. with respect to my question shareholder rights.

Snug

"A shareholder’s rights plan was briefly discussed by the BOD as an option for financing when a major financing is needed, this would also require shareholder’s approval, but this sort of plan would need to be considered carefully. This sort of plan normally gets put forward if there is a guarantor (backstop financier) in place, some firm or individual that will purchase the unsubscribed shares. It would be one of the options that the BOD would consider in conjunction with a reverse split as a mechanism to refinance the company if and when needed. Right now there is in excess of $4 million in treasury, however with an aggressive exploration program funds get used up quite quickly. Burn rate for the current program on the Freewest option property is around $500,000 per month.. for Spider.. this does not give Spider a very long period to explore at current levels. We will likely need to be re-financing in the fall if we expect to continue exploration next winter, or suffer dilution on the projects that others may elect to advance.

Neil"