I received PMs from Barbubeatnik & SRV asking my opinion on the recent Northern Miner Article. Specifically some questions re: Neil Novak. I thought I'd share my thoughts with the larger forum. These are my subjective thoughts. Please understand that.

First point: with the Northern Miner Article, we are getting a reporter's words. It's secondary information (all it we already know) and his subjective twist. Nothing wrong it that; but that's what it is.

Supposedly Neil is quoted as saying "I'm in love with the project, I found it," Novak says. This is true. Absolutely true. I can't see Neil enjoying the idea of throwing in the hat at 16 cents. That's not the Neil I know. This guy can be short tempered, opinionated, and acerbic. But let me (like the reporter) quote him once again: "We're not stupid." He was referring to himself and his BOD.

Second point: Frank Smeenk may not be Neil's favorite person. But Neil will not cut off his nose to spite his face. That would be (in fact) stupid. I can't believe he would purposely screw Frank. Both know that the merger ie., SPQ investors voting their shares YES, will continue to put the screws to Cliffs. Both gentlemen probably understand that they may eventually lose the war, but they can make their opponent hurt real bad in the meantime.

It is my opinion, and only my opinion, that Neil will listen very closely to his lawyers and counsellors. When all options are exhausted, he will notify us. In the meantime, let's march on to the July 8 special general meeting. There's lots more money to be made.

In the meantime, I suggest that everyone who wants to 'voice support' for Spider Resources and its struggle with Cliffs send an email to info@spiderresources.com or phone Lauren Hill at 1-877-304-0211 (Canada) or 1-888-742-1305 or 416-637-2254 (Call collect - Europe, Eurasia, etc.)

Snug