"Don't read too much into this, JDM had a huge chunk of SPQ that they sold to Cliffs at the first opportunity"

From what I know, JDM's Limited Partnerships (Mineraldfileds, Pathdway,) invest only in Flow-trough shares, and usually dissolve the entities after one year or so. They are short-terms investors. Selling their Spider Shares @ 19 cents was a heck of a good deal for them. Junior explorers which give you a (relatively) quick multiple return on your investment are a minority to say the least. In my view, a manager like JDM is minute-ready to sell whenever there is a good return possible, and will not fight or take any risk of waiting too long, or of losing a dissenting process. They will take the money and run ASAP.

So when I see them exercice options and warrants and solidly increase their position on and on, getting to hold almost 1/3 (one-third!) of a single company, I just saying to myself: "Something is going on up there". A one-minute DD? Yes, I agree. But feelings sometimes are the non-tangible portion of a due diligence process, that we can rely on especially when that portion is supported by tangible events and infos, like good and reliable management, situs and nature of the claims held and neighbours activities and results, etc...

I tend to think that the forecast will improve dramatically in Fancamp's sky as the days and weeks pass... Just a feeling, though!

GLTA.

BaBe.