Has anyone talked to Smith today. Did drilling start today or were there any delays?

Delays are understandable -so long as they don't stretch on too long.

First C-2 for "massive sulphides" (not sure how they know that), then C-1 closer to NOT border for deep target, then depending on where they are at, C-6.

No other data to report.

In talking to Smith, I never realized how entrenched his history is with the Fermont territory. It is no wonder he is so focused on the cash cow that will be Champion. FNC holds over 1 mil shares of CHM, plus 17.5% of the territories, plus 3% NSR (though will end up 2%), plus 100% Lac Lamelee (which he and Sheridan kept because they suspect it to be richer then Champion's properties).

Several here and Smith continued to reroute topics to include Champion, but I was always so focused on the immidiacy of Magpie and McFaulds, because those are something we can do about. Now that Champion is cooking, I see how important Champion can become. 4 to 5 bucks per share easy from Champion selling their current three properties' ore before the other 12 have been explored. Plus FNC holdes shares CHM shares which should take care of Smith's need for cash to explore other companies, to leave the 17.5% for FNC dividends.

Perhaps someone can crunch the actual numbers for me, as I'm away from those notes. I've got a number of different number scenarios, I'll justifying rich profits. My hope is some of these come before next years April 15th. I'm hoping to pay much more taxes (but with out changing percentages:)

But all this leaves one very basic question that needs an answer. I understand why we are drilling McFaulds. Nickel is the tail that wags this dog. But why hasn't it been Iron? I don't understand why we haven't drilled LaLamelle. Some have debated or spewed frustration about Smith spreading FNC thin drilling Beauce, Stoke, inaction on Magpie, and purchasing more properties. However, if Champion has always been , in Smith's mind the head that wags the dog, why hasn't he gone after Lac Lamalee? If Champion is prime for an offer next year, shouldn't we be prepared for an offer by having some holes in the ground that says our 100% property have what our 17.5% holdings in CHM's 15 properties have? And since CHM has first right of refusal, certainly we want to be in a position to offer a package deal to a bidder that is more favorable once we've proven Iron is there. And what if by poking holes in the ground we prove higher grade then CHM?

If we make the right moves, we could be seeing 4 to 5 bucks per share for just Lac Lamalee/2, let alone 4 to 5 bucks per share for the 17.5% CHM properties.

So, yes pick on Smith for his faults, but if he half-way plays Fermont right, as he's been doing, were talking 4 to 5 bucks. If he plays Fermont 100% correctly, were talking $6 to $8/share by possibly early next year.

Guide to understanding the values. Go to and open Fermont Property PDF

http://www.championminerals.com/projects/fermont/

Once your there check out the clusters. Observe the mines that exist. Then observe the Majors that own them. Then speculate the competition that could exist for CHM and FNC's Fermont properties. Then speculate on Wisco's desire for double what Consolidated Thompson can provide. Where will they get it? Fermont perhaps? Since you arer there take a look at the criss crossing geophysics of the fronts that cross. One over the other. Both of which Smith observed with his two feet on soil many years ago. He knows this territory intimately, more so then McFaulds.

Then ask yourself, why hasn't he drilled LacLamalee? I don't have the answer. Again, there is a time to take the passive approach and a time to act boldly. If we hit at C-2 or C-1 McFaulds, then we can act aggressively. Or if we find gold -by the way what's happening with our gold properties anyway.

-sg