IR campaign is solely for Fancamp not for Magpie IPO. Michael D'Amico was contracted with FNC about year ago, but he only had an opportunity to initiate the campaign very lately. It's all about timing when multiple projects are to move forward concurrently and investors expect free shares upon Magpie IPO, not the money matter. Michael gets paid for $3,000 monthly plus incentive stock options. There has been virtually no market connection up to date. One time, I participated in a similar campaign for one of the TSX venture companies. Book the 1st floor of the TSX and host 100 brokers from many institutions... The effect was great!! Institutions bought in first followed by brokers to suggest postential investors based on their internal analyst reports.

IMO, the Magpie drilling plan will cost about $1.9 mil plus $20K for sample acquisition and $200K for sample laboratory testing. So $3.23 mil is enough for Magpie IPO.

I believe Magpie project plan was formulated to meet the demand from the potential buyer. They want to validate the resource estimate. For the company, they take this opportunity to increase the iron deposit estimates and process of titaniferous magnetite ores with new technology.

I confirmed the distribution of Magpie shares to shareholders upon IPO. They have no plan to do IPO on Lac Lamelee property till now.