This makes no sense to me. Why would RGX make an offer for FNC when RGX is transitioning itself to a Titanium processor, not a miner nor an incubator. I could possibly see RGX buying back the shares that FNC holds, so then FNC also gets some more cash, but then that as well doesn't make as much sense in this capital constrained environment, since cash isn't necessarily easy for RGX to come by and I would consider FNC a 'friendly' holder of those shares.

What would possibly make more sense to me would be a spinoff of the iron ore property from RGX along with perhaps some FNC properties, or something along those lines. Time will tell. It will be interesting to see what happens in that Magie has a high TiO2 content as does RGX properties, so like you say, some synergies there.