Highly prospective exploration company

Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.

Free
Message: I called the Burnaby office today

My understanding is that we are only drilling-or will be drilling next week or over the weekend-at C-1; Noront drilled to partial depths at AT-1 and made mention of the curiousity of the anomoly. Again, it is my understanding that this was not drilled to the depth of their other targets, leading some to believe this could have been positioning to "enourage" FNC to get on the ball and do their own drilling, or perhaps work out a bit of a JV agreement.

Hell, anyone's guess is as good as mine, and I would agree that the market right now is giving no love to the chromite story. I would agree also with justaboutfedup that as the market seems to want to see the ni, then we want and need the nickle. It wouldn't hurt to see a reasonable grade of pt or pd through in.

I'm staying positive due to the potential significance of the rather large VTEM target to the north, as well as C-2 through C-6. When looking at the Eage one anomoly, which was blockbuster grade nickle hit, that visable anomoly to my layman's eye does not show more than what we have on FNC. C-1 will not be the entire story of FNC, but if we do hit ni then the market will help us drill up the others. Less than steller results at C-1 will not break this company, but a significant hit here may just make this company.

I am also enouraged a bit about the potential Magpie property spin-off, although I'd like to see the shares first (and some major mention of this on their website) before being to overly optimistic. The Magpie deal could be huge based upon that mineralization. I also tend to look favorable on that fact that Smith has played his cards close to the table on this property and certainly gives the impression that he knows what he has. e.g. no rush to jv, no rush for any dilution, but a willingness to cooperate with others on the mag surveys.

Share
New Message
Please login to post a reply