Just like others who have expressed their profound frustration with the company to the point that they just throw up their hands and take a walk! Bottom line: Dr. Smith is doing a good drilling job, but he does not know how to promote FNC. Ditto with Bay Street Connect taking care of Investor Relations. The Website looks a bit better, but their is some weird logic about placing/hidding "Properties" under "Links". Most companies would put "Properties" right out in the open on the top banner. The reason I picked on this was because I was trying to have an inventory of what FNC has under its wing

1. CHM (17.5%): approximately 17.5% x $120M = $21M

2. Magpie (almost 50%): The size is large, comparable at least to CHM. According to the FNC it has some 1B t of the stuff (Cr:1.5%, Fe: 43%, TiO2: 10%, ...) The Fe alone looks impressive, so at least one can assign a value of some $21M just for the sake of discussion

3. Lamelee (100%): have not look at the number, but it would be worth some millions

4. McFaults (chromite and perhaps Ni, and CLF transportation access value): Millions

5. The whole host of other properties: Some other millions

6. Argex (some 9M shares): Held in escrow, but the current value would be some $0.45 x 9M = some $4M.

7. Plus some cash in the kitty: A few mils?

If you add them all up then the total sum would be significantly higher than the current FNC market cap of $18M. Perhaps we should have this car chopped up and sell the parts separately.

I have a plan in place: If I won a jackpot of about $40M (got to give long-term investors some good premium like a factor of 2) I would buy up this whole company... and start shaking some trees. Top on the list would be a new CEO, next is some IR group that can put together a proper website. Investors need some good summaries and the economic implication for each property. We don't need a text book on geology. Sometimes, a non-compliant box models would give some curious potential investors to compare with other deposits (e.g. a crude comparison between Magpie and the 17.5% CHM, i.e. Magpie or the 17.5% CHM alone would be worth more than the current market cap).

Totally fed up.

goldhunter