The 2nd tranche mentioned in my earlier post could be complete soon. I guess the situation can be changed dynamically in the background day by day.

The last Friday’s trading volume shouldn’t be regarded as trivial especially when a high possibility of acquisition might get involved in. In an interview with BNN, it was said that FNC was a potential target for acquisition. Also, the Globe on Feb. 2, 2011, it was said that Champion Minerals could be a potential takeover target. In today’s climate, it now makes much more sense if the statement is modified to “..target for acquisition for specific properties..”…..

FNC owns 17.5% of sixteen Fermont properties, over 1 million shares (after 375,000 shares transferred to Sheridan to acquire 100% ownership in Lac Lamalee), 1.5% NSR (Net Smelter Return - worth of $4.5 million), plus 17.5% interest in CHM's newly acquired Black Dan and East Inlet iron properties. Overall net value of the FNC’s interest in CHM alone is well exceeded the current sp.

NexGen Financial portfolio manager Jonathan Baird said "CHM has already had substantial exploration success.” I think this is what the international mining corp. is exactly looking for before it bears fruit – offer a premium price but discounted from the future value. Cliffs put a high premium (approx. 75%) to buy out Comsolidated Thompson.

http://watch.bnn.ca/#clip400456

IMO, we may see two names (International Mining, Exploration and Investment firms) with two different styles coming up to the surface in the very near future. Probably one of them will proceed with two staged process. I believe Peter/Ganger’s approach has been and will be the best for the company and shareholders. If you can’t sell the whole chunk (here and there over a variety of properties), then take pieces and sell them to move onto the future (divide and conquer).

One approach is to buy out the company or property. The other approach is to participate in PP and hopefully to nominate a director to BOD and take increased ownership based on its progress and proven results.

Anon has dumped a total of 8.215 million shares since Jan. 20th this year. I suspect a certain amount of flow-through shares were moved onto the hands of Mineral Fields from Dwek (or Consolidated Investment Holdings) that provides rich people with tax sheltering program. But I wonder how?.. through change of ownership? Others like Union, Northern, Jitney (Wellington last Friday) played around Jittery small shareholders on low volume to drive them to the cliff and expected them to jump off the cliff. None to worry about these small players although a question remains with Anon. This blockade, which will have a very short low-life, provides us with a wonderful opportunity to load up at a bargain price!!!

Good Luck