D12 has an excellent post on Noront's board - you probably have read it already.

http://agoracom.com/ir/Noront/forums...

He writes:

"Noront can not afford to pick off other companies, even with the help of a major if the area plays market caps are inflated based on no real substantial results. If the whole area goes silent, only the strong will survive, and although SP's will languish, the overall plan will be progressing."

D12 makes a couple of points here:

1) No takeover of a smaller ROF player with inflated share prices. I certainly don't think SPQ has an inflated share price at this time. But even so, I don't see NOT buying SPQ because NOT would be spending money on a takeover with 'drilling money'. Although SPQ does have (in my opinion) substantial results, and soon will have a 43-101 for its Big Daddy find, I still don't think NOT will take a run at it in the short to intermediate term.

2) Only the strong will survive is something we have all come to accept with the current economic conditions. Ironically, Neil Novak's VP position in Noront while at the same time being CEO of Spider Resources probably will have a unique benefit to SPQ shareholders. Although it is entirely possible that SPQ will in the longer term become part of Noront, Neil is in a strategic position to get the best dollar for every SPQ share.

So Neil Novak and SPQ may eventually collaborate with Noront Resources to help strengthen the Ring of Fire's "great Canadian area play" status. How Freewest Resources - the other powerful ROF player - fits into the GCAP - as seen by a potential major buyer - can only be left to conjecture.

I should also note that when the new CEO for Noront takes office the ROF 'poker game' really begins. Hopefully Neil will still be at the table in both capacities. Even if he isn't, the valuation of Big Daddy should be very large - Khareema on the NOT board values FWR this morning - SPQ should - by similar valuation methods - make us all very happy. End of 2009 or start of 2010. IMHO.

Interesting times.

Snug