Thanks Wax for the post. It reminds us of how silly .40c per share is. It's also a good beginning attempt to figure Magpie. In about two weeks Magpie metallurgical results will come out and you and Fouad can narrow it down with specific insitu numbers.

We've already written how Champ and Argex is a wash for .40c, thus obliterating any risk for buying Fancamp at current SP. Wax pointed out how profitable Magpie can be, even at a reduced fire sale, could deliver 5.00/share dividend. Rumors are they've found new high-grade nickel at McFaulds. But no one knows how much, including Smith and Harvey as they are delving deep now. Drilling continues at Beauce. Cliffs may or may not desire FNC for our chromite. They're certainly willing to spend over 100mil for the percentage SPQ holds. With all this, clearly Fancamp is vulnerable to a hostile offer, even with the poison pill.

We shareholder need to establish a buyout number should Fancamp get an offer. Prior to the current events happening behind the scene and upcoming news releases, I'd desperately say low ball number is $2.00. However, were about to get news releases that will increase my acceptable lowball offer number. Probably $4.00 or 200mil for a hostile takeover for all FNC properties. Please share your thoughts.

All offers become background now that Magpie in the fast lane again. Certainly a Magpie sale changes everything. At the very least it would give investors much more patience to overlook any intolerable lowball offer.

-sg