Fermont Consolidation

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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Fermont Consolidation

posted on Jan 12, 2011 10:57AM

Welcome back Peter Smith. Hopefully the top of the mound of paperwork on your desk is spinning off Lac Lamalee and Fermont interests, doubling up my portfolio.

Consolidation has begun. We obviously have an influx of new investors. It is apparent to many investors that CHM and FNC, and our 17.5% of CHM are next to be consolidated within the Fermont properties. Of course, you've been saying this and have anticipated this for some time.

CHM obviously had a little insight that consolidation was about to begin, hence they preempted it by purchasing the additional land the same day.

To avoid a complete FNC takeout, now is the time to Spin off Lac Lamalee. I know you've already given your blessings, however there may be some urgency at this point. Can you act with all haste? This may offer some incentive for a major to consolidate just the Fermont area and avoid a takeover of all FNC's properties.