While we wait for excellent news for SPQ, read this short clip from the Northern Miner.

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VANCOUVER—Goldsource Mines (GXS-V, GXSFF-O) has started a Saskatchewan coal craze.

The diamond-seeking junior that instead hit coal has scaled the stock markets, its share price rising to the $6.70-range from a mere 30¢ in just three weeks. In the six months prior to news of the coal discovery, only 3.2 million Goldsource shares had changed hands at an average price of 22¢. Since the April 22 announcement, daily trading volume has averaged 1.2 million shares.

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Could this good stuff happen to SPQ?

Some people are souring on SPQ. Some of those people have held their shares from some time back, are selling them. I've listened to their concerns; but (as many have said) the geology has not changed. And the ROF is getting more NRs, and is getting more exciting.

SPQ started out looking for diamonds (see above) and has found much, much more. Drilling on the Freewest Option is probably approaching its target of 5000 meters. And Neil Novak is up north reviewing that program. And this guy is good.

Questions have been raised about reverse splits again. Perhaps it's time to review what a "reverse split" is all about. SPQ has approximately 300 million shares outstanding. A "1 for 3" reverse split would takes this to 100 million (Noront has 128 million). The share price would go from 8 cents to 24 cents. SPQ's capitalization stays the same.

Is a reverse split "good or bad"? There are as many opinions as investors. [Question: Has the geology changed because of the reverse split? Have the JV strategies changed?] Your opinion is welcome.

My feeling on reverse splits is neutral; however, history shows that reverse splits can be followed by a small drop in share price. [Nortel is an example - but not necessarily a good one.]

Remember that the Annual General Meeting is coming up for Spider Resources on June 19th. It will be important to have a strong representation of knowledgeable SPQ shareholders in attendance.

It's too bad that some share holders are souring on SPQ. I truly believe that we're on the cusp of some exciting news. Remember Neil Novak is an integral part of Richard Nemis's ROF area play strategy. And there are salso ome large corporate "heavy hitters" involved.

So I continue to be LONG on SPQ. Do your own due diligence. SPQ is a highly speculative stock with huge potential.

Humbly,

Snug