Important news.
Everyone now understands the importance of Neil Novak within the larger JV strategy of Noront. Jim Voisin (PRES.) has good human resources at UC and understands the priority of having Mr. Novak working closely with Richard Nemis. UC will also win with this arrangement.
How will this play out for SPQ investors? Much will transpire in 1Q08. As noted in a previous post, I asked Mr. Nemis in an email yesterday this question:
How is Spider Resources viewed within the context of Noront’s larger strategy, and the future of exploration at the Ring of Fire? Here is the unsigned response from Noront today:
We have not concluded any agreements with Spider, however, we have talked.
Much is being said with little. Clearly Nemis and Novak will talk, and an agreement will be made with Spider. I expect that Novak will want to retire a multi-millionaire, and soon (12-18 months). If Novak retires a multi-millionaire, SPQ will go up. How much? Your guess is good as mine.
But it shouldn't go cheap. Spider's land position is too good. And remember, any takeover (the last time I checked) will require the investor's OK.
Snug
