I currently hold no FNC shares. But I will wade into this fray with my thoughts. FNC has stated they want to drill their property without raising any funds via the PP route until they get results back from their first couple of holes. The thought here I imagine is to hit some good holes, have the share price go ballistic then raise money via the PP at much higher share prices.

Ok, to raise funds to drill, they need money in their treasury. Best way to do this for insiders would be this. Sell some of their shares on the open market. They got these share from previous option plans for pennies. They have an option plan in place that insiders can buy for $1.50. Sell their shares at market prices which are in the $2.70 range, replace these shares with $1.50 option shares. This way they put money into their treasury to drill.

If this is true, it is a win, win situation for current shareholders. They get to see what the drill finds without a big dilution to their shares. JMHO

Al