Ronto...

You write:

"My question is if Spider concentrates on this for now, how much does Neil think that there exists of chromite where they are drilling and the profitability of it??"

In the really old days, this would be called the "64 thousand dollar question". It is now the multi-billion dollar question.

There have been many, many similar questions on the NOT and FWR boards. And there are no real answers - yet. The potential tonnage of chromite ore seems to be rather staggering when you consider the visual and assay results from the deposits in "Big Daddy" (SPQ), "Black Thor" (FWR), and "Blackbird 1 & 2" (NOT). Moreover, the quality of the chromite "lens" is excellent.

Neither Freewest (FWR) nor Noront (NOT) are considering at this time a "chromite focused" 43-101. So Spider Resources 2009 strategy for chromite makes it the leader of the pack in this regard. Clearly Neil Novak believes that there is a huge tonnage of chromite ore on the Freewest Option lands, otherwise he wouldn't be spending the recent flowthrough money on the 43-101.

The value of chromite seems to be difficult to compute. Much depends on the quality of the ore coming directly out of the ground (without concentration). Moreover, as you have noted, the geographical location is a factor, the mining and road infrastructure is another factor, and the metals market (i.e., how it is bought and sold) for chrome/ferrochrome is different than - let's say - gold.

So the 2009 SPQ chromite strategy is not a "slam dunk". But then, neither are - it seems - the 2009 strategy of Teck or Yamana. As I said, for the investor, it's all about risk tolerance. I should also mention "investment horizon". If the investor can afford to see past 2009, then I think he/she will be well served by Spider Resources. If this sounds too rosy, then back off, and invest elsewhere.

All IMHO

Snug