Hi Snug

1. A N/R about a R/S is a little late in the game. Working with what is on the table would have been more astute. a NR about a R/S is always bad for the sp I've seen it often enough to know.

2. Why bother with a R/S when SPQ's days are numbered. SPQ is an obsticle to CLF. They are going to move as fast as they can to remove them when the 43-101 comes out its just smart business.

3. They will not have a choice when CLF's makes their move that is up to shareholders to decide. (Not always the best choices are made by shareholders but people will do what they want with their money) I do not believe we have been sold out like FWR but the end game is not under NN's control. I will get an Idea of what fair value will be when the 43-101 is released, I have my guess but I may be out to lunch.

As for calling him, I do not think he is going to say anything of material value at present, but I may do it anyway. In person to person conversations with Frank S. I have gleened some information that helped but I have never had a chance to talk to NN in person. For meaningful information I like to be standing in front of the other guy. I am a fast study of people, for years it was my job.

rallard