As I see, FNC has been sitting on the valuable properties with only historical estimates without delivering concrete data to host investors to unlock its values. All of a sudden, this conservative attitude has been changed lately by making great stretches on many properties such as McFaulds, Magpie, Lamalee, Beauce, Fermont, etc. Continuous drillings and metallurgical test work are the answers to bring values to the shareholders, but not for free. Anyway financing is now behind us and I believe there would be no need for further financing for a long haul. Following Noront and Probe in the past, FNC appears to me the last unexplored company in the area of ROF.

The Chromite band is certainly crossing FNC properties. I hope FNC proves Chromite layer extension toward the surface from further drilling. Also I’m expecting a report on precious metal anomaly from Beauce properties in the near future.

I don’t think it won’t be difficult to see $1.50 plus by the end of July and $3.00 plus by the end of this year.

Below was the one posted on July 28, 2009 when PRB was around $0.10. A year later, PRB traded as high as $2.40.

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2 Cents

posted on Jun 28, 09 01:19PM

The next 2-3 weeks are critical to Probes Mines and us investors. There is no right or wrong in expressing opinions at this stage to predict the near future sp until the summer drilling projects are complete. IMO, if the Chromite deposit is found with good assay results as expected and further one additional Ni-Cu Platinum deposit is discovered among four additional targets, we would possibly see $2+not even counting potentials from Victory/Tamarack projects. Chromite is typical discovered at high grades.

On the other side, downside risk is very low. The recent dent on sp was caused by the profit taker from BMO Nesbitt who acquired shares at below $.10 and the seller from RBC for a total of 1.5 million shares. I think they have almost depleted their ammunitions. This stock is poised to make a jump on any positive news (or leaks of insider information). We witnessed sp was doubled in two weeks before May 20th jv announcement. Not to give an unfair advantage to the people who have an access to the insider information, I hope Probe immediately release NR on any visual contacts of Chromite, Ni-CU, etc. based on core samples.

The following is an old article about Chromium discovery published by Willem Middelkoop, February 7th 2009.

http://www.kwgresources.com/_resources/news/feb11-2009-discovery.pdf

"...Freewest Resources and Noront Resources also have made important chromium discoveries along the same trend in recent months. The three chromite projects lie along a 12-14 km-long northeast-southwest structural trend and all sit within the same peridotite body.

We could be talking about a $ 100 billion or more asset for a major to pounce on, just counting the chromite. And we all know how the world reacted to Noront’s discovery of the Eagles. We can also safely say that a major will want all the chromite together with all the Ni/Cu deposits along the 14 km zone...."

If you see the map below, exploration started from south but is heading north (e.g., Black Bird, Big Daddy, AT12, Black Thor, Thunderbird) and converged on where the NOT/PRB jv and Tamarack unexplored properties. These properties have a high perspective of hosting Chromite, Vanadium and Ni-Cu Platinums. It could be all within the same peridotite body that ends there (a lot of potentials of Ni-CU PGEs).