Good points Chris... Great to have a forum where we can hash out things like this without being called bashers or pumpers.

I agree with your Sheridan concerns...

However, are such deals not subject to regulatory approval? Your point is taken about the possibility of a sale by FNC of its Magpie holdings for neglible value, but there has to be some sort of regulation in place to govern or prevent this... Otherwise, public companies would start doing this with many of their properties to for te benefit of business associates/partners. At any rate, I honestly do not think this was Smith's intent or purpose.

Rather, I see it as him moving the Magpie interest out of FNC possibly in anticipation that FNC will eventually get bought for its Mc Fauld's properties. As Old Joe mentioned on the NOT forum, this gives FNC managment and directors an new raison d'etre when this happens.

Regards,

B.