Further thoughts: assuming Smith isn't offering them FNC PP -which he better not- then this group will have to enter the open market for FNC. Let's assume they wanted to invest 1 million to 4 million bucks.

That means they may try to acquire 2 million shares of Fancamp at .50c. 200thou more at .45c. If they wanted 4 million, they'll try to acquire 8 million shares.

But obviously that kind of volume will push the SP up to 1.00. Or they can take their time, aquiring 100 thou per day, which would require time and a willingness by investors to give up FNC at this low price.

100 thou per day, is 20 days minimum. This is more then enough time to get a visual on Beauce or McFaulds. 900 feet at 50 meters per day is 18 days, and we started drilling last week. Not sure of timing for Beauce assays. If they take 40 days (or 4 million shares, or 2 million dollars) at a low SP, then that takes us into the beginning of drills for both Lac Lamalee and Magpie. The SP will raise on the annoucement of these two drill programs. But Champion would have increased their ore by then, whcih raises our SP anyway.

Conclusion: The SP will have to rise if a group wants to acquire 1 million worth of FNC securities. If Peter Smith offers one more FNC private placement, he betrays retail, previous PP, warrants, institutional investors, and increases the overall OS.

FNC properties are so solid and undervalued. All that's needed is Smith to give some numbers in a NR about Magpie or Lac Lamalee and the SP demand will shoot up. Just don't shoot us in the foot by further dillution.

-sg

PS -thanks for endulging in all my posts today. I had the luxury of a free day today. Don't forget rating stars as well as thumbs up if I've contributed to FNC discussion.