Takeover by Noront?

Always a possibility. Novak and Nemis are friends. Novak has his office in Noront's offices.

We have to remember, however, the last Noront re-org where Mungall came into Noront to do the geology - Novak's job. Novak wanted more time with Spider Resources - his company.

Spider has approximately 10 months worth of drilling money. And Novak wants to find the "motherlode".

Given this simple arithmetic and the larger ROF context of Noront and its multiple drill rigs (the 800 lb. gorilla), two possible scenerios come to mind:

1) Novak and SPQ hit "big" - everyone wins! SPQ share price busts upward, and continues to be a strong shaker and mover at McFaulds.

2) Novak and SPQ hit "small" (relative term) - everyone wins but less so. SPQ has significant claim units. Enough mineralization would be proven, and Richard Nemis and Neil Novak might have their "tete a tete". (Note that they have spoken before on these issues.)

It's all about how to make the most money. The big players like XSTRATA, VALE, and Teck are circling. The question is for Novak and Nemis is "How do we make this area play the most attractive?"

IMHO the SPQ shareholder will win big. And possibly real big. 5 1/2 cents is a joke, really.

Snug