after talking to Smith...
posted on
Nov 12, 2010 07:20PM
In discussing dividend distribution, he mentioned Magpie out of the blue. That was unusual. It indicates out of the myriad of phone calls it's on the surface. Usually Magpie is there, and Magpie subject feels forced on my part. Something is on the move there and I will welcome the surprise while were focused on 4 to 5 per share from champion. Smith says Champion is moving fast and we went through multiple scenarios of buy-out vs hostile takeover vs, negotiation for individual fermont properties. vs negotiations for package deal to include Lac
Lamalee. He was hesitant to speculate on a date, but it could begin soon early next year. He says begin because a multi-bi d is likely. either way he talks to Champion regularly and will be involved in any deals and will keeps shareholdres appraised. He is well aware of our concerns that he distribute as much profits to shareholders while still keeping enough to not be cash desperate to explore with no dillution. by the way he volunteered that while he and I are talking 4 to 5, it could easily be more. we've only explored a handful of the fermont properties. Mitel, wisco, thompson, swiss parties (xstrata, ex xstrata and ex Glencore) and others are well aware of huge deposits he stumbled on so many years ago. Even Champion is surprised at the largess and interested parties they are emmeshed with and surrounded by. all this on top of the fact that he is very positive on massive sulphides at McFaulds. two properties that have the ore and a myriad of grass roots puts FNC back to my A list of good buys. Smith pointed out that he told me CHM was going to launch and now he's telling me FNC is next. I'm now very bullish on FNC again. I plan not to be looking back on FNC at .50c thinking why didn't I buy more the way I do with CHM right now. _-sorry no spaces. phone writing. didn't get ahold of Wes today. try again Mon.-sg