Spider Resources

Vermillion! What a good and refreshing surprise to have you coming in!

"Think Cliffs will pay whatever SPQ/KWG can maneuver"

Adding penny by penny... We HAVE to merge. Cliffs' raised offer is conditional to Spider abandoning the amalgamation process. If Cliffs raises its bid again, it will attach the same No-Merger condition. But there is a clause in the COmbination Agreement that, if I get it well, allows KWG to force a vote on the Merger if the Proxy CIrcular has been forwarded during the 5 day period (which I think it has been):

"6.2(d) If the Proxy Circular has been sent to Spider Shareholders prior to the expiry of the five (5) Business Day period set forth in Section 6.2(a)(iv) and, during such period, KWG requests in writing that the Spider Meeting proceed, Spider shall continue to take all reasonable steps necessary to hold the Spider Meeting and to cause the Amalgamation to be voted on at the Spider Meeting."

GLTA.

BaBe.