With regards to the special resolution for the consolidation of shares, which will be put forward at the upcoming AGM, I'm at this point in favor of it. But my mind can be changed with a cogent argument.

Five major things have changed since the last effort at consolidation by Neil Novak and the BOD:

1) Spider Resources and its JV partners sit on a motherlode of chromite strategically located in North America

2) Cliffs Natural Resources (one of the JV partners) has made it very clear that it wants to invest in the hugely expensive infrastructure to bring the chromite to market - their market which is very large

3) The Ontario Provincial Government wants to invest in the ROF and acknowledges the vast potential of the Ring of Fire

4) The First Nations wants a piece of the Ring of Fire pie, and has made its needs clearly known

5) More and more investment people and bankers are flying to the Ring of Fire to check out the mineral and investment potential of this remote chunk of moose pasture in the James Bay Lowlands.

Were any of these four factors in play the last time around? No. Will they affect Spider Resources? Yes. Is Spider Resources perceived as a "nickel and dime" play? Yes. Can that change? I think so.

The last time around when it came to the 'consolidation rumba', Spider Resources was a very highly speculative play; it's now just highly speculative. Back then it had moose pasture, and nothing else (unless you call the six original VMS finds and some kimberlite pipes "material").

However, each of the five above factors now are "rocking SPQ's boat". To what extent is largely unknown, however.

Why unknown? Nobody is doing any real due diligence? Some think a piece of secondary correspondence from JD counts big time. I beg to differ. If folks are doing any real DD, they're not posting it.

There's a guy by the name of Neil Simon at Investor Cubed (the IR folks for SPQ). He's the Investor Relations guy. I just found out about this after a phone call into the office. He's going to give me a call back. I've got a ton of questions for him.

Once I hear back from him, and he answers my questions, I will post the answers here. Tomorrow afternoon, probably.

Snug