Spider Resources Stock Hub
First Explorer at the "Ring of Fire"
Hub Controls
  • Demo Video
  • Private Messages
  • Edit My Profile
  • View/Edit My Portfolio
AGORACOM News Flash

Did You Know?

AGORACOM is the exclusive provider of small-cap content to every Blackberry device on the planet.  In fact, we are 1 of only 13 global financial content partners to Blackberry.

To get AGORACOM on your Blackberry (or any smartphone) just click here. 

Regards,
George, Paul and The AGORACOM Team

Close
Message: My FAX to Mr. Novak
Reply New Message
« Prev Message Back To Forum Go to Threaded View Next Message »
Glenn1
SnugTheJoiner
Rank: [?]
President
Points: [?]
17439
Rating: [?]
Votes: 209 Score: 4.2
  • Currently 4.2/5 Stars.
Your Vote:
Please Log In to Vote
Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

My FAX to Mr. Novak

posted on Jun 03, 08 06:12PM

Below I have the text of a FAX, which I am sending to Neil Novak at 8:00 a.m. tomorrow morning. I am sending a FAX because I want Mr. Novak to have "hard copy".

Snug

------------------------------------...

June 3, 2008 Neil NovakCEOSpider Resources Dear Mr. Novak:I am very concerned about Resolution #12. It sends the wrong message to shareholders of Spider Resources. The history of share consolidation by junior companies is overwhelmingly negative. And I believe that the reasons given by the Company are just not strong enough to mitigate potentially tremendous capital losses by Company investors.Significant discussion, which probably is transparent to you, is taking place amongst many, many retail investors. A large number of these investors are voting AGAINST Resolution #12. Many of these investors each hold 100’s of thousands of SPQ shares. Furthermore, there is real concern about the 40% devaluation in share price after the recent announcement of the potential reverse split; but there is also a genuine concern that this devaluation will continue no matter the value upcoming assays because of Resolution #12.It is my belief, and that of my investor friends, that Spider Resources has a very bright future. It seems to have excellent mineral potential on its joint venture claims and it has intelligent, hardworking management. However, for every shareholder including Management, Resolution #12 jeopardizes all of this. Plain and simple, the optics of Resolution #12 for Spider Resources are really bad: for Spider Resources, for Management, for shareholders, and for the share price.My strong suggestion is that, at a minimum, Spider Resources’ management and Board of Directors should issue a statement that an error has been made in promoting the idea of potential share consolidation. Then, in a very positive manner, the Company can state it and its shareholders believe strongly in its present exploration strategy and potential. And finally, The Company will let future assay results dictate future Company growth and wealth generation for its shareholders.Regards,

28 recommendations
Reply New Message
« Prev Message Back To Forum Go to Threaded View Next Message »
New Message

Please login to post a reply

President's D.D.
JD's page of Mineralogist's links
Thanks JD for this extensive list of weblinks. Good background information site. read more
Generic_tiny
Posted by: Cylinder
On: July 18, 2008
URL: http://www.m...ore/ore.html
Stock Quote
Open SPQ:CA Stock Quote

Investment Ideas

Like Spider Resources? Then you might also be interested in Shoreham Resources Ltd

Shoreham Resources Ltd
  • Pre NI43-101 Resource of 91M tonnes grading 0.054% Mo
  • Pre NI43-101 Resource of 650,000 oz/Gold at Marudi Property, Guyana
  • Recently identified 215.0 m of 1.15g/t gold at Marudi
Hub Leaders
Glenn1
SnugTheJoiner
Pm_city
johndefur
Generic_tiny
Cylinder
Img_1498
kelsee