Agoracom: Small Cap Investment - Fancamp Exploration - Re: SEDAR - Notes 4+5+6+7

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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BarbuBeatnik

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Re: SEDAR - Notes 4+5+6+7 - Third Quarter Financials

in response to

SEDAR - Notes 4+5+6+7 - Third Quarter Financials

TeleProbe

posted on Apr 02, 2014 10:12AM

Thanks Luker and Teleprobe.

"On May 19, 2011, Magpie completed a flow-through financing whereby Magpie raised gross proceeds of $3,234,500 by issuing 4,706,428 common shares. As a result of the transaction, the Company’s interest in Magpie was reduced to 46.72% and the Company recorded a dilution gain of $934,199. During the year ended April 30, 2013, Magpie was fairly inactive, and the Company recorded $nil equity loss."

Correct me if I'm wrong but FT investing allows a special tax deduction which could be reverted if the exploration expenses are not made before a certain date (is it 3 years?). We should hear a drilling announcement sooner or later...