" Neil really wasn't interested in any Cleveland-Cliff approach since he didn't know what was in the back of the mind. He didn't know what kind of "suitor" they intended to be e.g., JV partner, hostile takeover party, etc. So he didn't open Spider's books. This point is important for my second point below.

2) Micon and the chromite 43-101

Micon is working on the 43-101. Neil hopes to have it in his hands by the PDAC conference in early March.

"Neil honestly believes that the Freewest Option project "has legs". But he is approaching it very differently from KWG. He wants an indepth review of the data already gleaned from the drilling on the Option. Using this data, he wants Micon to provide him with how he should "drill off" the chromite/PGE mineralization. This "drill off" would then provide him with much more comprehensive data allowing for a "resource definition" - indicated and inferred tonnages.

Once he has the 43-101, it will allow him to possibly do two things. One would be to go after more private placement money, or to approach multiple "majors" (including Cleveland-Cliff) who might be interested in this resource.

3) Spider Resources website

Neil said that he is working hard on updating the Spider Resources website. (He actually said that "he was somewhat remiss in doing this.") He wants it up-to-date very soon. Especially since PDAC is coming up. This is excellent news.

He's going to have some up-to-date maps, drill hole positioning on the maps (up to drill hole 23), plus (I think I'm correct) information on gravity and gradiometer readings. This is good news. (Once it's done, I suggest that some of you send him emails emphasizing the useful nature and importance of the changes.) "

Yes to this information you posted a few weeks back. But it does seem that some of the other SPQ Directors have different Plans and very likely those Plans were/are suffuciently significant that NN was unable to turn them (the other Directors) back from moving on any such alternative Plans.

Best thing to do at present is to track NN down and see if any additional considerations have come into play. Maybe one of the other Directors needs to be brought into the Info Sharing Loop to gain a better understanding of "What is becoming What" and some insight as to "Why What" is becoming so important as to have expressed intentions change so greatly in such a short period of time.

The best I can think of is either NN is being pushed around for advantage by a few other Directors for their Buddies needs in all that is SPQ and the Rof OR things are moving very rapidly behind the scenes and this PP proposal is deemed worth while at present as opposed to later.

Note that the Micon Study was not expected to be able, on it's own, to produce a complete NI 43 - 101, or if so it would have been a somewhat limited NI 43 - 101. Thus the noted mention of gaining Professional Direction on what would then need be Drilled Off so as to expand the Resource to a significant Deposit Size complient NI 43 101 Estimate.

Also note that the desire is to include PGE's in any NI 43 - 101, there by expressing much better Deposit Value.

Finally, once again, given the new Cash KWG now is expected to have courtesy of the Cliffs Option, KWG may well have proposed a much expanded Drill Program while they are Operator, and thus SPQ quickly concluded they would need more Cash in hand to ensure they would be very avle to match KWG Spending, and there by remain equal partners. Also keep in mind that KWG will be the ones this time having first view of what is drilled out of each new Drill Hole.

I am hoping for the Greatly Expanded/Increased Drill Program to QUICKLY and GREATLY EXPAND the Real Size of the Deposit(s) on those Very Interesting and Mineral Proven Claim Blocks.

What is it that SPQ Management WANTS?

Old Joe