Spider Resources

Welcome To The Spider Resources HUB On AGORACOM First Explorer at the "Ring of Fire" and presently drilling on the "BIG DADDY" Chromite/Pge's jv'd property...yet we were robbed

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Re: Talked with Novak

Spider Resources

about 14 years ago

in response to Cylinder's message

This part I find crappy

He did tell me the reasoning behind the RS attempt. The BOD had planned on separating Big Daddy, since they could see the writing on the wall after Cliff bought out Freewest. The plan was to consolidate the shares, and issue shares (by dividend) in a new company that would contain everything except Big Daddy. This would have had the least tax implication for us shareholders. He said that Spider was an exploration company, and he or the BOD had no interest in trying to raise the necessary capital to go to production.

I personally believe that they did have enough time to explain this RS.. they tried it twice so how on earth did they not have enough time to explain themselves??