waxweasel:

I totally support an initiative to stir up the pot and maximize shareholder value in FNC. However, I think resignation of Smith is not the way. He is not going to agree with becoming just the company geologist, IMO when we would make him resign he leaves the company. That would mean, despite the numerous things he does wrong, we would lose an tremendous asset to FNC.

I doubt whether Sheridan would vote against SMith also. They have been prospecting and doing deals for years and years together, I don't think Sheridan would stab Smith's back by demanding him to leave.

And think of what will happen if we will get new management. We lose the Smith-Sheridan block with their % ownership that now protects us from being stolen by Noront or Cliff's. We will be a sitting duck once that's over. Next to the fact that Smith and other Directors will dump their shares on the market possibly, now that won't help our SP either.

rose2010:

mr. smith doesn't need to leave the company or better said the bod first of all. but he definitely should step aside as the one and only ceo.

over the years smith has proven to be real good at property picking. but right now we have enough of these properties and solid money should been made out of those. smith has no clue what so ever to do so. very i'm repeating very dangerous, having somebody with that limited capacity running an entire company like fnc.

sheridan has proven many times only to be loyal to his own money, nothing more nothing less; which in my mind is a good thing for a shareholder. makes it understandable what his behavior and rationale will be. specially in a matter like this.

if he wants to keep the current status quo, (which i'm told he is not) i also would love to know why, wouldn't you?

sheridan was close to pushing smith aside during last agm. a good source told me that smith pulled together just enough proxies at the last minute to retain his control.

by now sheridan must be aware smith is costing him serious money at this stage of the game and seems willing to change his policy on smith. efforts are being made as we speak to talk to the man directly in order to find out his current position and opinion on the matter.

apparently mr. sheridon snr unfortunately recently had a stroke and productive access isn't just a call away at this point in time. work in progress. t.b.c.

smith and directors dumping their shares on the market...

no fear what so ever they will do that one way or the other. also these people have a lot of their money locked in on this play. why just waste it by selling low, if you don't get it your way. i mean there are some nasty guys in that board right now, with a very unfriendly shareholder history, but that doesn't make them that stupid. but obviously not only smith doesn't function, also this board needs to be shaken up good. time to wake up gentlemen!

so waxweasel, based on the above, i'm kindly inviting you to reconsider, asking to step aboard and join us in our mutual, simple and clear attempt to have mr. smith moved aside as the one and only ceo of this company. just plain clear and simple. we need some hard core hands on business experience into that boardroom asap, and if not, trust me on this one, we all will regret rather sooner than later. and time is certainly an important issue here.

please let's not dilute this message by adding too much detail and nuance, but instead let's all unite in keeping our path and by doing so making a strong mutual supported effort that cannot be neglected by the currewnt BOD or all other FNC shareholders any longer.

please help spreading the message.

thanks in advance, rose2010