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First Explorer at the "Ring of Fire" and presently drilling on the "BIG DADDY" Chromite/Pge's jv'd property...yet we were robbed

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Message: SPQ, JVs, and some recent personal messages

SPQ, JVs, and some recent personal messages

posted on Feb 23, 2008 03:56AM

Recently I have received some very good personal messages and questions. Perhaps some don't want to step on my toes by asking or pointing out things directly on this board. I've got big feet, don't worry about the toes. Agoracom was concerned about PMs because they might squelch intelligent discussion. I agree.

PM has sent me some PMs :) I really respect PM, and I follow much of the discussion and his posts on the NOT board. I hope he doesn't mind me mentioning a personal discussion on this board.

He asked my opinion on his thoughts about "the house divided " aka SPQ & KWG and how this might affect things going forward - whether projects might move ahead. His concern is that SPQ has some really good prospects but seems to be sitting on its butt. Here was PM which I sent to him (and Kelsee) which I want to share with all SPQ posters. Your comments are welcome.

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At this time I doubt whether any attention will be payed to Wawa and Kyle. The limelight is clearly on McFaulds and the Freewest Option. Whether KWG will bother much with MacFayden is unclear.

However, the 33% clause makes me strongly think that McFaulds and Freewest will be worked (this is what I call a "back door"). Money and greed is a strong motivator. The working relationship between SPQ and KWG is now a legal one. If SPQ invests in either McFaulds or Freewest, AND a big strike is found with tonnage calculated, AND a senior miner decides to buy, KWG's lawyers will get out their calculators and make certain KWG gets its percentage. Of this I'm absolutely certain.

Didn't the McCain brothers in Nova Scotia fight over their french fry business? Seems to me they still keep the business going, and continue to make a lot of dough.

Respectfully,
Snug
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After my recent discussion with Neil, I believe SPQ is moving forward. I think Neil has found a great partner with Dick Nemis and Noront. Clearly Neil's relationship with KWG is simply defined by his legal relationship with them. I believe that his heated discussions with KWG set back his moving ahead with SPQ by at least two years. KWG will get its percentage of McFaulds and the Freewest Option. But SPQ, by investing in McFaulds and the Freewest Option, will get the larger portion (as noted by JohnD.)

It is now "full steam" ahead for SPQ. If it strikes something significant with Freewest or UC Resources, the SPQ share price will become extremely volatile. I remember seeing 32 million shares traded one day a while back when the share price hit 22 cents. Hang on to your hats; we're going there soon.

Snug

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