Quote:
"Only drilling will establish what Fancamp's anomaly does actually represent. But if you were to ask where Noront's Richard Nemis would likely find the tonnage to justify his "bigger than Voisey's Bay" prediction based on this geophysical data, one would have to answer "on Fancamp's property". Although Nemis apparently made no effort during the first few weeks after Noront's "visually significant" core was pulled in late August to contact Fancamp and option this ground, he apparently has now been on Peter Smith's case to do a deal. No deal, however, is likely to happen until Fancamp interprets the 100 metre spaced airborne survey data and pokes a few holes into the ground, for Pat Sheridan Sr owns 20% of Fancamp's stock. Fancamp has 27,560,981 shares fully diluted, about $1 million working capital, and a 100% interest in its McFauld's Lake property. The implied project value at $1.85 is only $51 million, which is very cheap compared to the $825 million IPV of Noront's discovery next door. Fancamp should be in a position to drill its targets by early 2008. There is a good chance Fancamp will find something similar to Noront's discovery, and if this were achieved, pricing parity between Noront and Fancamp at Noront's current valuation would put Fancamp into the $20-$30 range. Fancamp is a very high risk speculation, but the reward potential offered by its geophysical data supported closeology is also very high. Fancamp also represents a good long position hedge for those inclined to go short Noront, because if that Noront short goes bad in a big way, it will most likely be because the discovery is part of a much larger system associated with the EM/MAG anomaly on Fancamp's ground. Another strategy would be for a Noront shareholder to switch out of Noront into Fancamp, for if Noront delivers news that drives a doubling of its price, the impact on Fancamp will be more than a double."