When I talked to the VP of CHM yesterday, he was surprised FNC was still in the .50c range, given our percentage in their own company. FNC is worth much more. He said that what's helped CHM's story garner world-wide interest is a member of their board from Switz promotes for them with the big players while FNC sort of sort of not has a slide presentation.

CHM will offer FNC to buy into their newly acquire properties. Its a nominal amount. I asked if our developing Lac Lamalee would be competitive or compliment their interests in the Fermont. He said he did not understand why we haven't done drilled already? He said any ore we find adds to the overall Fermont story and they'd welcome our discovery of ore. After all, they have first refusal rights.

I asked if they're going to make another offer for our 17.5%, he said he can't tell me that. But through the course of the conversation, I got the impression that their might not be time to make an offer now. Things are really heating up.

I asked if spinning off Lac Lamalee would be agreeable? He said, they have first refusal rights, but obviously he can't comment. Again, I got the impression that time was short.

I told him that I have been presuming that their intent is to prove up ore and sell it all. CHM wants to be open to all profitable angle, whether it is to sell Fermont or develop it. Profit for shareholders as fast as possible. Even the VP of CHM has this as a priority. Refreshing.

I asked if he has any suggestions that might help FNC. He said that from an outsider looking in, he could make some uninformed guesses. It seems obvious that FNC needs to have it's own meeting and figure out what Pat wants, so FNC is of one mind. He thinks it's difficult to promote multiple properties and get the story internationally to large investors so FNC should figure out what type of company are they. He also said CHM and Smith have a good relationship, so if CHM could be of assistance they are only a phone call away.

Pat wants to sell. Peter needs to meet with Pat. Again, consolidation is on and time may be running out so there is urgency to act now.

By the way, I was misinformed. CHM crew took a short break, but they've been drilling while our McFaulds crew took a much longer break. Different terrain and CHM isn't remote.

I didn't get into geo-details, because he's having a meeting today and will be more informed with a call back.

I thanked him for working hard to improve shareholder value. He was kind enough to do a little hand holding and said I am going to make money whether your in CHM or FNC. 1.2 billion tons is just the beginning.

I'm in both, so doubly cool.

-StockGreed