Fani, you and I have discussed many a different discussions regarding Smith's effectiveness as CEO -his choices both good and bad. But instead of crushing this post, allow this one to remain optimistically untainted.

Peter says drilling will proceed to go deep at McFaulds. Given variety of conversations, the target depth has varied between 650 to 1200mtrs. Money availability for more then 3000 mtrs if needed. Mike is up to C-1 this week. Camp is being sorted out, but they have options. Plus Wes offered NOT's camp to Peter as last resort. Other material info to be reported this week or soon referring to gold. Also Magpie committee recently met. Report is taking it's time because it's to be comprehensive (more then just Fouad's metallurgical report) but also to include contributing advice from a new world-respected expert to create the full development tree. I think this was all at the behest of what Smith called and interested party who Peter insists is non-committed. We will see if that was a cover or honestly trying not to get hopes up.

I've told him that many investors are confused about holding dual iron properties. I asked him to explain it for my 101-for-dummies brain. He explained that this party is not interested in Champion's iron as it's a different ore and resource then Magpie. Ultimately their costs and product objectives are related to titanium. An interested party in Champion's iron would consider Magpie's titanium contaminated, adding to costs. But a party interested in Magpie, wouldn't want what Champion is offering. One such interested party might be Rio-Tinto. So when he's talking to interested parties, he doesn't persuade them to want Magpie instead of Lac Lamellee or Champion's properties. Although I like the sound of this explanation, Magpie explanations have varied from year to year, and this has contradicted previous explanations. Get is sold.

I talked to Smith point-blank about the perception that FNC is a hobby for him while other's financial hopes and dreams lay wasted at a low SP. Instead of being defensive, he said he's well aware of our desire for dividends or share-swapping. He sees AGM as an opportunity to communicate FNC's goals for future. I asked him if he feels pressure from Mineral Field's investors to get profit He said, it's his job to make profit. He also knows how upset investors are that he spins off properties to companies like Champion, but at the time they needed the money. He doesn't think they'll be that desperate for money soon. But he wouldn't reveal material info, so I have no idea what that means. When I pushed for detail, he said, he doesn't think investors realize what a compliment it is and the implications that Thompson, Watson, Harvey would ally their name to FNC and wouldn't do that unless they felt FNC was going to do what they think they can do with it. My insertion, on the other hand Harvey and Nemis are on TBM's board which is at .04c.

One way to get into Smith's mind-set and feel less impatient is to question Smith about the process of exploration -slow movement with large consequences that gains momentum -like mold in a bathroom. First it starts pink and ignorable. But slowly it gets darker and ever increases its growth, spreading until you can no longer ignore it. Then you've got to take major steps to take it out. A buy out equates to bleach. Enjoy that one.

OK, I can't help it. Here is the bash. The reason Champion's SP is more then FNC, is CHM is moving at lightning speed spending like crazy, creating their own exploration inertia. When you talk to Smith, he is so enthusiastic about this investment, you'd think he'd apply the same strategy with FNC's own Stoke, Beauce, Magpie, or McFaulds. Create the momentum that investors or buyers can not ignore. Get something sold, and he better darn well spread it out to investors. So utilize the AGM, not to get different directors (as that at this point is futile), but to get major shareholders to insist that any future profit is distributed to shareholders. Although Peter says it, let's make sure it's not lip service. As we've seen from Peter, depending on the day your speak to him, he could feel this pressure or not. He could desire profit distribution genuinely or it could be furthest from his mind. A 25% or greater shareholder would insist in a way more effective then our woeful wishes.

By the way, Peter believes FNC is a steal. I told him to buy more and announce that he's buying more to us. Instill confidence in retail about your own company. I know there are legal complications as assays are in, so make a public NR about your intentions to and then execute. Isn't that what Probe's CEO did? Apparently, he knew something we will soon know about as well. up 300% +

If investing in nuances is a fools game, I'm playing with a deck of jokers. From the nuances I've gathered from multiple CEO's and experts regarding FNC, I think FNC is on it's way up and the bear will hibernate this winter. The one overriding agreement that is not a nuance but a consistent comment is that FNC's properties are have already proven too valuable of ore or have too much blue sky to remain in the .40c range.

I see other's feel the same. SP .52 today.

Thanks for enduring my ramblings.

-stock greed