Chadly:

No, I don't think you've stepped in "IT". Your conjecture is reasonable.

Much discussion in the past has centered around a possible "1 for 10" reverse split with SPQ shares. Your scenerio would be a "1 for 10" takeover by Noront. But given that Noront's share price is $1.50+, a ratio of 1:10 would be unlikely since it's highly beneficial to the SPQ shareholder. 1:30 would be more likely.

Whether or not Neil Novak and the SPQ BOD would accept such a 'merger' proposal brings us into the realm of 'hostile takeover' discussion now taking place on the FWR Agoracom board. It would certainly put 'the cat among the pigeons' given the ongoing JV with FWR and KWG taking place on the Freewest Option lands.

Thanks for the input.

Snug