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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Message: Short Position - 167,000 Shares (-119,000)
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Rego,

I believe SP will start moving up before the rest of shorts are covered. It would be nice to take 18M plus shares in exchange of 17.5% of interest in CHM keeping 1.5% royalty when it goes into production. Then, when CHM is bought out, FNC will get further approx 70% premium on top of it.

(18M + 1M) * 2.03 * 1.7 = $65.5M

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