Blackie:

Good stuff on your phone call. Did you ever meet or chat with Mac Watson?

The reason I ask is that I think the situation with SPQ is radically different than that of the former FWR. The biggest difference is how Noront is acting at this point (or not acting, which is closer to the truth). Noront said with their bid for FWR that it wanted to smoke out Cliffs ie., find out their true intentions. That has been done.

So Cliffs wants to mine chromite at the ROF; and it will build the infrastructure. With escalating problems in South Africa, this ROF scenerio seems assured. We might even be lucky and find XSTRATA knocking at our door.

So I don't see Neil Novak "doing a FWR". He wants to make more money than that (as we all do). Moreover, to my mind he has more integrity. He's trying to enhance the perception of Spider Resources as a stand-alone explorco (unlike KWG), and has few options to do that. Ergo, the request for the option to do a reverse split (consolidation of shares).

Snug