IMO, it was a good deal for FNC shareholders. This deal will eliminate the need for financing to share the costs of further CHM exploration in Fermont properties but also the costs of building the mine on pro-rata bisis while securing NSR (1.5%). FNC cannot afford to pay the costs or it may become a stumbling-block on CHM projects. One of the major concerns of this company has been continuous PP to dilute shares faster than yielding the results.

Again, NSR doesn't include deductions such as the costs of building the mine and infrastructure, the cost of exploring to find the deposit, the cost of repaying the loans needed for construction, and so on. Once the mine is in operation, it starts generating income immediately for FNC. Also the option agreement with Bold Ventures Inc. let FNC avoid expensive drilling costs in McFauld's property. Magpie project is self-financed.

Sorry for those guys expecting cheap PP's, agent's commissioned shares will be no longer sold in the public market at least for awhile.

Now, it's time to focus on Magpie IPO and encourage analyst reports on future prospects of the company.