Recursion and the Precursor ----- Usually when posts talk about takeovers they are restless from lack of data. No one knows if the IPO will benefit sharehders.  It is all just guesswork. That's why our Marketcap excludes Magpie.     The 43-101 will give official data to crunch for a metallurgy extraction numbers, accurate PEA, and perspectus. All this gives a proper valuation for the IPO. Until we get any data, one can only pick up clues such as an Offtake buyin.  - The real question which concerns us is this: has Smith taken serious steps that serious money respects.  Larsen and Quesnel took the steps that got serious money to back their respective companies and take the Marketcap to their highs. Are Smith and Granger taking similar steps? ----------- In light of serious money, is a promotion campaign organized in anticipation of excellent numbers (which I assume they already know) necessary? If Smith is waiting for all signatures to be signed and details worked out, is he prepared in advance with an advertising blitz? Our CEO should have BNN lined up, reviews set for publishing, discussions with some our new big investors to hammer out details for publicity letting the world know whose involved with FNC. Does he have visuals lined up ready to go outlining targets explored and targets un-drilledinstilled. Does he have maps showing infrastructure access points.   Serious money might not care about this type of promotion, though it would increase retail damand. But serious money might care if he has pre-arranged agreements for separation and processing that demonstrated feasibility. Perhaps this involves preselling the offtakes. ---------- If Smith is taking these pre-cursory steps, we're in for money to reward our long standing investment in Smith and Fancamp. -sg