first point: Thanks Rago. I forgot Pat ownes 50% Lac Lamalee so 100mil is not as easy to negotiate. Still quite possible, but I'm beginning to accept low expectations as standard for most deals. If we want $5 then expect $2.75 per share. Personally, I won't be satisfied with anything less then $1 per any property. I suspect that for 100mil, we'll have to poke a hole. Well how long will that take? On the other hand, if just Firelake alone yields 1 bil tons ore, and Smith and Sheridan kept Lac Lamalee because they suspected it had greater potential, well there is certainly negotiation leverage there. Has there ever been deals where the prospective buyer pays for hole and the cost is negotiated in with final offer? Or should we just poke a hole in there next week and get it done with, sharing a camp with our CHM friends?

Second point: Smith predicted 1 bil tons by Dec. Champion's NR just doubled current holdings to somewhere between 500 to 600mil tons. Either he knows Fermont property very well or he's got inside info on Champions visuals, or both (which I suspect). If he does know, then Champion is following his prediction. 1 bil or more tons for Champion. And perhaps Champions SP will follow suit. It has doubled. Now will it triple. And will Fancamp's SP triple once folks assess the clues?

But I suspect most retail are like Michael Caine's Sherlock Holmes or the detective in Gosford Park. The clues laid before them are completely overlooked. If Smith's prediction is correct, that CHM will have 1 bil tons of ore on just Firelake Fermont property, then both Champion and Fancamp are a good buy, especially after the last two days of market fear causing an irrational SP downplay.

-sg