A thought
posted on
Jan 08, 2010 12:11PM
First Explorer at the "Ring of Fire" and presently drilling on the "BIG DADDY" Chromite/Pge's jv'd property...yet we were robbed
Although I almost never post here, I still am a shareholder, and thought I'd offer up an interesting observation.
In an interesting twist of fate, SPQ could end up having more influence than any sneering naysayer could ever have imagined. The obstacles to success for SPQ shareholders were repeatedly pointed out in times past. The low share price, which made raising capital difficult for exploration, which in turn made it seem like the only solution was a RS, which failed, thanks to JD and others. Subsequent PP's made the OS seem outrageously high and a barrier to success, again as we were told.
Now with this intriguing discovery pointing to a nickel source within hundreds of metres, from what the NR claims, this could be a game changer.
The huge float of shares could be a strength, not a weakness. With Cliff's having some measure of control over KWG and FWR, SPQ is really the only free agent so to speak, of the JV partners.
If we are getting closer to the defining moment of discovery, as in the ovoid at Voisey's, then there is going to be Battle Royale for SPQ. The little guy who was so overlooked for so long, held in utter disregard, could honestly be the one to fend off the CLF offer for its JV partners who are under a gag order, so to speak.
If a rival bidder decides they want to get in on the battle for the ROF in a pre-emptive strike, not waiting for the next nickel hit that looms on the horizon, then I believe SPQ will be the next target. They will likely try to get as much as they can while SPQ is still not spoken for by another, before they counter with CLF's for FWR.
The large float is an advantage for SPQ here because the volume will be a "tell" for retail, and at these prices, retail will be all over it. And the entrance of another suitor will surely get the attention CLF's, and any other bidder waiting in the weeds.
If SPQ plays their cards right, this division among the JV's could be just what the doctor ordered to break the stranglehold CLF's seems to have right now. I think CLF knows they don't have what it takes to be a dominating force in the ROF, they are shooting for the moon, and if they end up owning any bit of the ROF when the dust settles, they would consider themselves fortunate.
Funny how perceived roadblocks along the way can be a blessing sometimes....I am pleased that SPQ has so many shares now, so that to gain control over a certain percentage would not go unnoticed.
But I always was one who rooted for the underdog, so I will be paying a lot more attention to developments with SPQ from here on in.
Congrats to all the longs....I know it's premature, but the signs are there.