"...a geologist and accountant have kept me objective on this :)))"

You will not receive much argument from me on your SP FAIR VALUE as it currently can be backed up with Drill Results.

And with that in mind plus the FACT that KWG is suspose to be the FWR JV Exploration Operator this Year and will expect to be REINBURSED AFTER completing the Current Year's Exploration Program for the amount agreeded in the Pre-Exploration Budget, assuming all proper Receipts and acceptable Accounting are supplied to SPQ upon completion of the current year's Exploration Program, which we now know is Budgeted for some $5 - $5.8 million covering EVERYTHING, of which SPQ will have to reimburse KWG for 50% of the actual final JV Exploration Program Costs.

Thus SPQ will have to have as much as $2.9 million cash on hand by the End of the Exploration Year so as to cover their shear of the JV Costs at Exploration Year End. And very likely this Year's Exploration Program will cost less seeing as Exploration Costs will be lower this Year due to the much lower demand in the Industry.

Now, Why is it that SPQ announced plans to do a PP on Feb. 10, 2009 in which they expect to issue 78 750 000 Shares (equating to approximately 24.9% of existing Shares outstanding and 19.9386% of the total post PP Shares outstanding should this PP be completed) and raise as much as $4.725 million when their need for cash will be much less in 8 - 12 months into the Future in order to pay their shear of the JV Funding and SPQ currently having NO NEED for such Proposed PP raised cash.

Seems to me the SMART thing for SPQ to do right now is to sit tight and let KWG do the Exploration Program. And once the results are ready to be made Public, look into raising sufficient Funds to cover the JV Funding Commitment. Thus, much lower Dilution and only at a much better SP when that time does finally arrive.

19.9% of the Company! Who will get this? This is a very significant portion of the Company. Especially at this stage of Corporate Development!

In excess of $1.825 million over and above the Budgeted required maximum needed to get the job completed, AND not counting the Cash Already in the Corporate Coffers

I suggest NN come clean and seek proper permission from this Companies Share Holders before doing anything even remotely resembling the likes of this Feb. 10th proposed PP.

And as I stated at the beginning, you and your Geologist and Accountant will not get much arguement from me on your $0.50 / Share value for current known Corporate Mineral Holdings SPQ already has.

Old Joe