Hello Bluebird.

You say, “The whole will be greater than the sum of the parts.” You make an interesting point. Can you elaborate on it? Can you cite any companies in either the Mineral Exploration or Mineral Royalty Sectors where synergies come into play?

I realize your statement is not the same as looking at the undervaluation of the parts, even before you add them up. Still, I’m curious as to: What other companies do you know of where #1 the market valuations of the parts are reasonable to start with (as is not the case with Fancamp) and #2 (on top of that) the market valuation of the sum of the parts even exceeds that fair (or better than fair) parts’ valuation?

What do you think of the relationship between the parts of Fancamp? Are there synergies that will work in our favor? Are the synergies of such a kind that they will ever be part of our market valuation? Or, is this more an internal question of one part of Fancamp helping another part of Fancamp within Fancamp (such as, for example, Royalty Receipts paying exploration expenses)?

Of course our greatest opportunity is to profit from our investment in terms of the market starting—at some point in the future—to pay attention to simple fact that we own solid assets that are not about to go away. I like the fact that beyond the straight market profits (at some point), you get that plus a built-in diversification of mineral commodities.

It’s as though you get participation in a whole big basket of companies, all benefiting from our ownership (one way or the other) of different hard mineral assets in the ground. Some of it is World Class (Titanium and Iron). Some of it is less than World Class but unquestionably substantial (Chromium and Vanadium). Plus you get Copper and a little (speculation in) Gold and Uranium. Synergies or no synergies, it’s a potent mix.