"Unless they can strike it huge , this is the only hope they have given the number of shares o/s."

Agreed.

The interesting thing (for me) about this latest share offering is that it shows Neil Novak is still working the ROF (unlike FNC). He's a geo, a CEO, and a prospector. Moreover, he previously commissioned MICON to do a 43-101 on the Freewest Option claims, and I'm certain that he smells PGEs.

So although this new PP would provide further dilution, it says something about the man. IMO, He continues to want a big payday for himself, his BOD, and his investors. The fact that he hasn't "sold" Spider Resources to anyone - including Cliffs - speaks to his savvy nature.

Remember, when he "floated" the idea of a reverse split, he wanted it as an option (for action) to be implemented when the time was opportune for SPQ. I expect he would try to sell the investor on this approach should he bring it forth again.

So let's watch carefully what happens to this PP. More money means more drilling. And more drilling equates to a greater likelihood of finding that illusive motherlode.

Snug