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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: time to prioritize the questions

time to prioritize the questions

posted on Jun 14, 2008 01:25PM

I have attended a lot of company AGM's and if anyone thinks that someone is going to go there with a shopping list of questions that they're going to ask is sorely mistaken. In the days when juniors would be lucky to get five or at the outside ten shareholders showing up the meetings would be held in a semi professional manner almost like an old boys club and you could ask a many questions as you wanted and the CEO would give you an answer, some would be recorded some wouldn't. This doesn't apply to Spider. With 308mill shares out there are a whack of major shareholders with a vested interest, and you can bet the RS is at the top of their list. The AGM has to meet all the guidelines of the TSX , Sedar and Roberts Rules of Order. If there are questions from the floor you will get allowed one maybe two and that would be it, before you may be ruled out of order.

I would suggest that Snug and whomever else is going and wants to ask questions that they determine the single most important question that they would like answered and get it on the docket.

For me personally the question has to deal with the RS, it should preferably be framed in three parts, and make sure they record it as one question. Part one should be to ask them to explain why they see a need for a RS. Part two ask them , if there is a RS at what level have they determined is the most advantageous to existing shareholders Part three if there is a concensus for a RS will they provide all existing shareholders with the right of first refusal should they proceed within two years of the RS to look for a Private Placement. ( because you know thats the next step after the RS)

I would be there in person to ask these questions if I wasn't in Europe spending time with my new grandchild, and christening her with a bottle of 30yr old Macallan.

I realise this is a long post hopefully those who are attending will read it

GLTA SPQ longs and hopefully this time next week we will have some positive news.

Joe

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