So, SPQ is doing a 5 mill PP, which is good, as it is being done on the open market, rather than a closed deal where someone like CLF takes it all.

I would like to draw attention though, to last spring when they tried to do a PP at .06. and most of the discussion revolved aroung the idea that the additional o/s shares would make a consolidation necessary. In my opinion, the animosity towards the idea of a consolidation resulted in the failure of the PP, and they eventually did one at .03. I was very vocal about this at the time, as I had planned to participate in the PP at .06. As it turned out, the end result was that I got to pick up all I wanted at.03-.035, and went away smiling.

Times have changed, as Snug says, and it is a new ballgame today. I think this PP will fill quickly and will result in SPQ being cashed up for the rest of the winter season, and able to participate in funding the winter's drilling program.

As I was against any discussion of a reverse split the last time around, I am against it also here. Any further discussion on the subject can only deter a swift closure of the PP.

"IF" the winter's drilling produces good results we will likely get taken out before the end of June/2010, negating any requirement for consolidation.

"IF" the winter's drilling does not produce good results, it isn't going to matter what we do, as we will be screwed regardless.

I intend to participate in this PP, and as such, some may view my post in a negative manner. However, in order the company to succeed, they have to drill. To drill they need funds. To raise finding they must dilute. The net cost to me, of a flo thru share will be about .035. It will be free trading about the last week in April, just as the winter drilling season draws to a close. If they are successful, any discussions of a rev split will be moot.

Best regards

K