A few paragraphs from a news release October 23/2007 (not very long ago)on SPQ website if you care to read the whole thing.

The current program was funded entirely by UC Resources Limited ("UC"), in compliance with their funding obligation for the project. UC has an option to earn-in up to a 55% undivided interest in the McFauld’s Lake project, which is currently owned as to an undivided 50% interest, by each of Spider and KWG, as per the LOI signed in early March 2007. UC is the operator of the property during the term of their option as outlined in the LOI. UC during this phase of exploration expended approximately $1.0 million to complete their initial option earn-in on the property (total expenditures are being reviewed by management of UC to be presented to Spider and KWG).

UC advises Spider that they are reviewing this project area and are currently planning a program to continue their exploration efforts on the other McFaulds VMS occurrences, while also looking for Noront look-alike anomalies in their vast land package that has been acquired covering a total of ten other VMS occurrences in the area through year two, three and four of the agreement. The next phase of exploration activity will involve participating in a regional airborne survey, along with other junior exploration companies active in the area.

Oz