Re: Private Placements - information for the Spider Resources investor - K
posted on
May 07, 2009 03:52PM
First Explorer at the "Ring of Fire" and presently drilling on the "BIG DADDY" Chromite/Pge's jv'd property...yet we were robbed
K:
I don't know whether Neil is even contemplating a RS. It is entirely possible that he is not. The only thing we know for sure is that he has gone to IBK in order to raise flow-through cash for exploration.
Since I haven't had a chance to chat with him yet this week, I believe Spider Resources has about $3 million in operating money. I also understand that MICON suggested that $5 million would be the amount needed to explore Big Daddy. These two dollar amounts are what I understand to be true - however, I may be wrong.
As far as the present RS discussion, it is me who brought it up in the first place on this forum (although Hoov has discussed the idea privately with Neil.) As in all matters with regards to democratic discussion, I reserve the right to present issues that might be relevant to my investments. I respect the fact that you think it's the wrong time to discuss reverse splits. However, I expect the same consideration believing it's the right time.
Snug