I had a nice conversation with Neil Simon of Investor Cubed today. He returned a call which I had given him prior to the holiday season.

How did Investor Cubed get involved with Spider Resources? A broker contacted Investor Cubed telling them of the opportunity with SPQ.

How did Spider Resources hook up with Sandfire Securities for the recent successful placement? Sandfire had told Investor Cubed that they had money to invest. Investor Cubed worked with both Spider Resources and Sandfire... and voila... a successful private placement.

Neil Simon stated that "money is now not an issue for Spider Resources." Drilling on Big Daddy will continue through the winter season, and drill results will be forthcoming.

He believes that the number of share outstanding is an issue (from an optics point of view). With this number of shares, 20 or 30 cents on the upside. However, if a reverse split took place, possibly $2.00 . But we all know these are just numbers.

He questions whether a reverse split is even a possibilty since a "take out" is most likely. The next couple of months will tell.

I queried Mr. Simon about the number of shares recently being traded in SPQ, (and somebody like Joe Dwek being involved), and he said that he Neil Simon) is telling a lot of mutual fund companies about Spider Resources. Obviously these funds guys are out to make money, and 30 cents out of a 5 cent stock sounds like a no-brainer.

I would also like to chat with Neil Novak about Spider Resources from a technical point of view. But it's a little inconvenient to do so from the west coast since he doesn't answer his cell phone directly but calls back later (generally in the early morning when I'm driving bus). But I'll see what I can do unless someone else would like to take that one on.

Snug