You've asked me for my impression. I'm disappointed. But I'm also 63, philosophical, and probably a little bit stupid.
I try to put myself into Neil Novak's shoes. He probably has millions of shares, and he also is getting 19 cents for each one. I think he's also disappointed. Very disappointed. And no, I haven't talked with him. And probably won't.
Did he sell out? I don't know and I don't care. Playing penny stocks on the Toronto Venture Exchange is not for the faint hearted. Others can blame Neil Novak, but I won't. I played the game and made a bit of money. Spitting phlegm, bile, and other excreta at someone else is not my style.
I will sell my shares for 19 cents and move on. I hoped more from SPQ but it ain't going to happen.
I attended my share of PDACs, CIM meetings, and AGMs. I chatted with Neil over the phone and at those meetings, and shared my photographs and impressions from those conversations with everyone on Agoracom. Neil's an old time prospector who doesn't suffer fools gladly. Many of his peers up on the ROF dislike him. But ironically, their day of reckoning is coming.
Finally, the Canadian government is working on creating one commission like the SEC in the USA. Two provinces are against this legislation: Alberta and Quebec. I think we have a problem in Canada with the oversight of our stock markets. Therein lies the root of Spider Resources failure to win the battle with Cliffs.
IMHO
Snug
