Hi Bentonstocks,

If the intent of FNC is to prime the mcfaulds lake property for an aquisition, I will be extremely pleased should this turn out to be the case.

As you've mentioned, Fancamp has met necessary regulatory requirements to transfer ownership of the acquired claims, and IMO the breakdown would occur in the event Fancamp would seek to sell ownership of Magpie Mines Inc. while it is still a private company.  I believe accounting allows for this type of ownership to be disclosed through company Financial Records and does not require an independant regulatory filing, which would mean that any regulatory controls in place would be reactive and dependant on detection.  The BOD to some degree controls for this, but the effectiveness of any BOD in these matters really boils down to member objectivity and size. 

I admit I am taken by Peter Smith's alleged old-boy attitude, and over the past few months I've used this to discount various items that could be considered eye-openers if in other exploration companies.  Typically, public companies disassemble themselves into public companies, and I really don't see a reason for Magpie to even enter private domain unless Fancamp needed to segment quickly.  However, if Fancamp desired for it's McFaulds claims to be more attractive takeover targets why couldn't this be mentioned within the press release?  ie. "Fancamp tailors McFaulds Lake Project for possible suitors".  Peter has said he doesn't want to show his hand but he really needs to throw us a bone. 

It's possible the winds could really blow either way, but when I see a CEO shrouded in secrecy I have to say I've no idea what (s)he is doing back there and I'm scared to look...

Regards,

Chris