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.

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Message: Any thoughts out there------
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Fani, I'm very pro Smith. Smith is an investor as well, and benefits from dividends. Indeed, he wants to get cash out to us, as he knows we are impatient. I even got a bite from one of his long-time friends who expressed impatience that he get some dividends. Hopefully he'll pressure Smith, although I'm certain Smith is already getting pressure.

Let's do a quick calculation: Mineralfields = 30%. The retail I know has at least 9% now. One large shareholder I talked to has a little over 5%. That's at least 44% who might want dividends pronto. I'm beginning to get e-mails

At this point, Smith has entered the "never cry wolf scenario." I can not wait for Smith to fulfill my dreams as I can't sleep that long. However, other CEO's and iron interested parties are acting on Smith. He's got legally savvy help with offers he's entertaining. So Fancamp is in full swing, in spite of his retail-unfriendly timeline. Translate = I'm buying more. At this point investors are asking themselves, Champion or Fancamp. Obviously 4million has chosen FNC as I'm sure that the information that pushed their decision in the FNC direction convinced them of our attractive leverage and hinted at the offers finally hitting Smith's desk.

And this assumes that Smith will be one of the few Juniors to pass on dividends to it's shareholders. Can anyone list more? Will he be one of the few to break the mold? Certainly a junior can't bank 80 million without a revolt?

From the ripples of intel out there, I'm hearing it's not a matter of when dividends will come, it is a matter of how much Smith will distribute to us. I feel safe that it will be greater then 50%. But are there enough shareholders out there to demand more? We don't want FNC cash strapped. Certainly a shareswap offer changes things.
Fani, I like the direction of discussing dividends rather then Smith's resignation. Unless he kept 50% or greater profit from a deal, I think he's working hard for us. We are no longer grassroots with Champion. Had he not done the CHM deal, there is no way we would be as far along as Champion is right now. While Champion is pushing high 1.80's, FNC would be probably where Noront is. And I think Smith is cooking something up to get us past Noront this month.
Larsen has done an excellent job. And his go-get-'em attitude which has moved Champion along at lightning speed is the type of personality Fancamp needs to add to it's board backed by Mineralfields. I was hoping Mac would take this lead with one of the properties as he did with Freewest, but it looks like we'll content ourselves with Larsen on Champion. Even if we had a Larsen/Friedland type, which property would FNC put efforts into?
So now, we need to be realistic with our situation. This is deal-making time. Granger will be integral for this part of the money negotiation process. And thanks to Smith for bringing him on board. As a CEO, he did what a good CEO should do, hire those who can plug weaknesses.
Smith has put Fancamp right there for many many multiples. Shareholders are in a good position when our main concern is pushing for more dividend percentage from three properties, Lac Lamalee, Champion, and Magpie (which could be bundled together) as opposed to what is happening with C-1, C-2, and did we find gold?
For short-time stock holders, until Noront hits .80c, at .50c, Fancamp is where the profits lay. For long-timers, we are happening now -finally.
-sg
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