Welcome To The Spider Resources HUB On AGORACOM

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: Re: re:reverse split
5
joe
May 01, 2009 02:18AM
5
May 01, 2009 03:25AM
2
May 01, 2009 07:27AM

Just reading todays postings on the idea of a reverse split indicate the kind of negative feelings that go along with a RS.

There have also been several postings on the new PP and questions as to whether it is the best move for the company. IMHO sometimes in the venture/small mining industry you have to do what you "are able to do" and not necessarily what you "want to do".

As a shareholder I think a PP at $.10 would have been great but that was not going to happen. So you go out and find an acceptable deal to keep the drills running and the resource estimates increasing. As Snug mentioned-this is a long process and you will get very weary, worrying over the course of the exploration cycle.

Might I suggest at this time instead of doing a RS of say 1 for 10 resulting in a share price of $.30 to $.35 (depending on the timing) and many angry shareholders - we initiate a merge with Freewest at 1 for 10.

After a RS the Spider shares would be roughly equal to FWR and talks of a merger would be vary obvious and positive (again in MHO). Why not forget the pains of the RS split and go straight to a merger which may be seen be both parties, and the market, as a very positive step forward for overall development of the ROF.

Have a great weekend all----

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