The Magpie deposits were acquired by staking, and the property passed through a series of partnerships from 1953 to 1968, and then was controlled by SOQUEM from 1968 to 2007. SOQUEM relinquished title to the property in 2007 and the ground was acquired by map staking by Fancamp Exploration Ltd. and The Sheridan Platinum Group Ltd. in October 2007.

In year 2007, the property was sold to a newly formed private company, The Magpie Mines Inc. in exchange for 27,460,981 common shares of Magpie (50% interest). The original intent was to go public, which option remains; current plans are to raise money privately to add value through comprehensive metallurgical work. A small flowthrough financing in late 2008 (leaving the partners: Fancamp Exploration Ltd. and The Sheridan Platinum Group Ltd. with 48.7% each) enabled the drilling of a part of the deposit and the production of a 43-101 quality report estimate in mid 2009.

http://www.fancampexplorationltd.ca/images/magpie%20assays%20and%20ddh/Final-Magpie-TCB-06July.pdf

Fancamp has the ownership of 48.7% of the Magpie Mines Inc. and, according to the rumour, it is now in negotiation process for sale to POSCO (Pohang Steel - South Korean Company). None of such information was confirmed or verified from the Company. The money involved in this sale is not a trivial amount.

http://agoracom.com/ir/Fancamp/forums/discussion/topics/418532-a-realistic-price-for-magpie/messages/1376301#message

http://agoracom.com/ir/Fancamp/forums/discussion/topics/418532-a-realistic-price-for-magpie/messages/1376004#message