Highly prospective exploration company

Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.

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Message: Division #3 – The SP Repair Shop

As a way of thinking of FNC, you could say we have two divisions (albeit, we’re not formally set up that way). First, there’s our geologists and technical people working together with our contractors and laborers in the field who add value to the company through exploration. We’ve made great progress and documented it very well. Nobody’s complaining about what we’ve accomplished here. We have vast mineral resource riches. We could put this under the heading “Division #1 – Exploration.”

Second, there’s the officers of FNC who negotiate agreements with other companies. In terms of properly developing what we have (the fruit of Division #1), we need the participation of the right kind of partner companies. Because our financial resources are far from limitless, and because we’re so overloaded with tonnages of valuable metal ores and tangible stock holdings and NSR future income, the quality of our partner business arrangements makes a big difference. While there’s been much debate on this Message Hub as to how well we’ve set this up, there’s no debate about how important the right kind of deals can be. We could title this work “Division #2 – Corporate Leadership.”

Together with the successes we’ve had in “Division #1 – Exploration” comes an obligation to step up how we exploit those successes, which is our “Division #2 – Corporate Leadership.” There’s been much debate on this Message Hub (as there should be) as to how well we’re doing this. That’s not the main idea behind this message, which is that we should pay more attention to Scale and Relative Importance.

At this stage of our evolution, “Division #1 – Exploration” should be drastically scaled back. As it is now, it’s as though Management does not believe or understand its own documented successes. Well, if the belief and the understanding are not there at the top, how can we communicate that belief and understanding to others outside the company?

Once we have the belief in what we’ve already accomplished, we need to get the most we can for what those accomplishments are. Why else did we spend all those years on exploration reconnaissance and resource proving in the first place?

Nothing we’re presently doing (so far as the company’s overall direction and organization) has higher priority or greater urgency than, without delay, establishing a new “Division #3 – The SP Repair Shop.” Changing the mindset to one that, without reservation or hesitation, fully engages and fully serves and fully benefits shareholders is a priority long neglected and long overdue.

We deserve no less and have every right to demand no less. To be continued.

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