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Gold/Mining/Energy : Spider Resources - SPQ.ASE -- Ignore unavailable to you. Want to Upgrade?

To: ToySoldier who wrote (324)	3/24/1998 9:52:00 AM
From: ToySoldier	Read Replies (1) \| Respond to of 471

Well, I called the company to ask what the scoop is with the bail-out of one large stock-holder yesterday. She stated that they did notice the hit on their stock price. They are currently right in the middle of moving their offices this week. Their BOD are flying all of the country and are not expected to meet for about 2 weeks to decide on approval to continue exploration in Brazil. If and when the BOD gives approval, they will seek financing for the exploration ($500,000). They already been approached by a couple of institutional investors to provide this funding but they are awaiting BOD aproval first. Don't expect any news from SPQ for about 2-3 weeks is what I was told. Likihood of beginning exploration (if and when all this falls into place) is early May. The WAWA project will also be kicking off soon. So, the summary that I got from them is that if the BOD approves the exploration that funding for the project will not be a problem. I think I will still hold on to my shares. If it goes any lower I might even buy more. ToySoldier