Peter Smith wasn't required to write a NR, but did want to inform folks of what's going on. I think there might have been less discontentment with the NR had the SP been soaring. We should keep this in mind when we criticise his style. Everyone hopes a single NR would get us back up there. this wasn't it, nor should we have expected it to be.

Let's place FNC in perspective. Transport your mind to later this year when it is triple from where we are now. How much cash can you live without now, and hold FNC for when we triple in Aug/Sept. Now imagine the slew of NR's Smith will be releasing until then. Peter likes to let the facts speak for them selves.

If all he wants to include in news releases are facts, then he'll have plenty of subtative facts between now and the fall. I would encourage him to release as many as possible. Deb, you better budget in several thousand for NR expenditures. Here is a rundown:

1) Lac Lamalee drill begins, 20 Lac Lamalee visuals, 3) Lac Lamalee assay results, 4) Lac Lamalee NPV, 5) Lac Lamalee intent to IPO, 6) Lac Lamalee IPO, 7) Lac Lamalee negotiations with CHM or Major for shareswaps or cash deals, 8) Magpie drill results, 9) Magpie metallurgical results, 10) Magpie 2nd tranche, 11) Magpie evaluation, 12) Magpie IPO details, 13) Magpie IPO deadline, 14) Magpie IPO closing, 15) Magpie direct ownership details, 16) Magpie direct ownership deadline and execution, 17) Desolation Lake drilling beginning, 18) Champion deal struck plus shareholder direct ownership, 19) Beauce drill results and scans on website, 20) McFaulds drill results, 21) McFaulds deal with Cliffs or Baosteel for chromite, 22) new FNC website, 23) FNC management does not approve of hostile offer by Cliffs, Arcelor, Wisco, Baosteel, Consolidated Thompson. 24) FNC management approves of a friendly offer by Cliffs, Arcelor, Wisco, Baosteel, or Consolidated Thompson.

-sg