Thanks for checking on this. unfortunately it appears that no definitive answers will be forthcoming soon. Jeez, I may be out in the ozone on this but we now have to ask the board to do what should have been done around the date of the sale. As I replied to another poster on another board:

You raise a few interesting points here.

5272 - Re: fnc/peter smith

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anyhow,....it would also be nice to receive some info from the company on their magpie claims. as far as the rumor mill is treating that property, it could turn out a real significant property as well, by the way easy and cheap to drill and find out, no helicopters etc needed for that.

another interesting point although rather premature i agree is, what would happen with fnc's claims once they hit. will not take them out? just all food for thought and please feel free to disagree.
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If anyone has a W.A.G. estimate on how long it takes for a company to be listed on the TSXV after application, I'd certainly appreciate it. I would like to keep on top of the possible 1 for 1 share distribution on FNC's sale of the Magpie deposit to Magpie Mines. As it stands now, it looks like this entire deposit is under control of private investors who own Magpie Mines. In that this deal was done about six months ago, I would wonder just what is a reasonable time to expect our shares as FNC's shareholders.

Another thing that is a bit troublesome, is that is or was this deal even legally doable, if there is no definitive quid pro quo for the shareholders? e.g. the deposit was sold, but shares were not received, in fact Magpie Mines wasn't even listed yet. What really has FNC (and the shareholders) actually received regarding this sale? A promise of shares in the future?

The above also could raise a few other questions. Are these shares held in abeyance (or could they be) as a bargaining chip on down the road if FNC hits? In lieu of anything formal from FNC that could be considered a possible legitimate strategy, but it would sure help to receive some clarification. For example if another company takes out FNC, would the Magpie Mines shares be included in that composite package? What I do know is that I have seen nothing formal out of FNC on this, with the exception of two articles from other sources, and just possibly two PR's from FNC regarding first, the staking of the property, and secondly, the sale of property to Magpie Mines.

And what clarification can we realistically expect soon if Peter is out in the field-understandably-supervising the drilling?