gratlife-Thanks for the reminder regarding Magpie. I always attempt to keep a couple of things in mind. 1) Never place much creedence in what people say, but what they do, and 2) the best predictor of future behavior is past behavior.

Fnc doesn't say a whole lot-difficult at times to read between the lines here, but we do know that The Sheridan Group is a major shareholder. More than a couple of us here may have had some stocks with The Sheridan Group as major shareholders in the past. So I look at what was done in the past. As a former Lyndex shareholder, imagine may surprise-and it wasn't a good surprise-when I was informed in August of this year by a fellow Lyndex shareholder in Canada, that in his words: "One glaring piece of information regarding Lyndex is that when the Court Receiver obtained all documents and leases for the Salave spanish property where the drilling was done and the mine was supposed to be developed there was absolutely NO reference to Lyndex in any form or way. In other words the salave asset was NEVER an asset of Lyndex. We were totally misled."

I have no way of independently verifying what he relayed to me is factual or not, but it certainly makes me a bit more cautious. What does keep me in the game is that FNC has published-and made public- the sale of the Magpie depsit in their SEDAR filing of August 28, 2008, with the mention that 27,460,981 shares of common stock would be exchanged due to the sale.

This SEDAR disclosure also lists addintional FNC holdings that we hear little-if any-news about. e.g. besides McFaulds, we have an option to earn 100% interest in the Beauce property (gold), Quebec, a 50% interest in the George River property, a 50% owned Mingan titanium Quebec, a JV, a 50% owned St. Urbain iron titanium deposit, Quebec, a 50% owned Mt. Reed/Mt. Wright Iron prospects, a 100% owned Lac Merchant property, and three additional 100% owned properties with another 50% owned property thrown in for good measure. It looks like most of these deals were done with The Sheridan Group as partners.

So FNC is a hell of a lot more than just McFaulds-although that is far, far from being a write off. Could you imagine if through the law of unintended consequences, Magpie or any of the other properties turned out to be the company maker? I would hate to find out sometime on down the road, that we didn't really own what we thought we owned as shareholders. I'm not too worried in that I believe the SEDAR filing has us covered, but I think we are all owed an update from the company on Magpie.