I got to thinking today (it does happen occasionally) about our little Spider. Here's my thoughts in no particular order or importance.

SHARE PRICE

It looks like 10-11 cents might be our present bottom in share price. Up a "double plus" in the last while. Any good news (of substance) might propel us up another double. If we ever bust through 23 cents, we're smiling. Big time.

CLIFFS

A post by Rallard on the KWG board got me to thinking (again). I thinks that Cliffs is quite happy where they are right now. Nothing happening to light a fire under the corporate butt. Why not watch what happens with the local government and the First Nations folks? No risk in doing that. Right? Now I may be missing some legal obligations that requires them to spend some money. Some of you erudite folks can set me straight.

So I don't think Cliffs is in any rush to gobble up poor old Spider. Now, we may become rich old Spider because of this. Remember that KWG (our Siamese twin up at the ROF) is taking over the operating duties on the "Option Lands". And they've raised some money to do so. (Which begs the question: We need to match what KWG spends - Do we have the money to do so?) What if we hit the nickel motherlode (which all of us honestly hope will happen)?

Will Cliffs jump in at that point? Probably will be too late. Both SPQ and KWG will probably have tripled (ergo - three times more expensive to buy). But even if they are too late, they still make off like a bandit because they own 19.9% of KWG. They're sitting sit, I think.

KWG

Has anything changed with KWG with respect to SPQ? Nope. Each wishes the other bonne chance and I hope you make a gazillion dollars.

UC RESOURCES

Spider and KWG have a JV with UC Resources. UC has been playing possum for a while. Trying to get its Mexican operations rolling in order to bankroll the ROF work that needs to be done. Although Spider has potentially given a good chunk of future revenue away with the UC JV, it still stands to make a large buck for its investors should Jim Voisin and his crew strike something big. And they got some prime real estate to do just that.

NORONT, TRIBUTE MINERALS, ET AL

What about the rest of the motley crew up on the JBL? Noront has its own challenges but is moving ahead strongly. I doubt very much whether they'll waste energy going after Spider. Tribute looks like its about to have a close look at its drilling cores, and will have assays in the next couple of months. What if it blows the door handles off the place? Doubt whether it'll aftfect Spider's share price.

SO WHAT DOES THE INVESTOR DO?

Depends on what type of investor you are? Right now the frenzy on the stock has fizzled. So hopefully you bought in low, and maybe even made some money. I don't think too many day traders are wasting a lot of energy on SPQ right now. But maybe they are. Who knows. If you're a "long", I still think we got a lot of legs. Gee, I'm even thinking we might get to another June AGM. And I didn't think that two weeks ago. But that would be good. Get some smart retail investors into that Toronto meeting and find out what Neil Novak and the BOD intend to do with our money. No more demagoguery.

Just some of my thoughts.

Snug