This is another post I am making in reply to a pm, since I think it has something to ponder for everyone.

To the retail investor, there seems to be a difference in the words Reverse Share and Consolidation. The symantics attempt to paint a prettier picture, but in the end, it is the same thing. But the retail investor will be the least important investor in the days coming, if Spider is to have the future we all want.

The big time investors are not fooled. They can take a look at the mere fact that a RS is being considered, and realize that there has been serious mismanagement within the company. The red flag comes up. Whether that mismanagement has been bad timing of share price points when PP offers were made, or poor press releases, it all settles back to the BOD.

I like NN, but the way that he has run the company is more condusive to a privately owned company, not a stock that trades on the TSX-V. Limelight seekers endeavour to keep the company name in the news at all times. That has not proven beneficial in the case for Noront. But NN seems to take the opposite slant and stays out of the mainstream. Video clips on a specialty channel? Ineffective.

As for Spider doing their own mining, it will never happen. The 100s of millions that they would need to get started are beyond the reach of any of the juniors in the area, and a combined effort will only dilute the profits. Neil is smart enough to realize that, and that is why he reminded you of the fact that they are a prospecting company.

The timing of the RS proposal is very poor, as I have said earlier. Why would you do something like that when your stock is at a 104-week high? Proposed during our 52-week low period in the fall with closure by end year, the downside would be less dangerous, with a quicker recovery once the PDAC approaches.

If the RS proposal passes, our SP will dive immediately and will stay low until the end of the year, or when the BOD announces action of the RS, when it will go lower still until the PDAC approaches. If the RS passes, it could be a good buying opportunity.

I voted my shares against the RS, and have no regrets.

Cylinder