This from a guy that got in at an avg $2.00 plus.... So I am not impressed.... I still hold my FNC as I truely believe they have a stratigic property... what they lack is risk managment / vision for market perception. Not taking my advice was a major blunder.... now they have doubled the dilution for 20% of the money.... A year+ ago they were raising money for chump change.... This one isn't much better.
Rule #1.... never turn down money under favourable terms... FNC would not have come off near as bad with the near misses had they got cashed up with $10 million or so...JMHO
Note the date:
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Just a thought.... That FNC may come under pressure from the likes of PNP/ sprott and others if they smell weakness in the share price and a potential financing in the wind....
That was why my suggestion of a $3.00 FT financing with full wts @ $5.00.... for 2 million shares would have set FNC up for success.... with sufficent cash in the bank to complete a substantual round of drilling.... with minimal dilution.
Some support could still achieve this, but a little more weakness and the financing will be in the $1.50 to $2.00 range.
Fact is you can't drill holes without cash..... if you blow all your cash and go hat in hand, the sharkes want more than blood, they want flesh as fell.
JMHO
