this is relayed from a non-poster investor's conversation relayed to me. He did not think Smith would mind me posting it. - - - - - McFaulds: drilling starts tomorrow. Mike is onsight. someone send hims some coffee it's minus 40 right now. For starters target to dpth of 800mtrs. - - - - - - spinoffs concerning either Magpie or Lac Lamalee or both combined is imminent. Pat is on board. so all obstacles removed anf Grangers will fast track. consideration combining the two. I suspect Granger is working hard to see if this is possible. - - - - - - Motivation for Spinoff: "strong possibility" of a takeout. Kept hinting at Chinese eager to make money following Wisco's profit from Consolidated Thompson. Arcelor won't let Chinese in on Fermont but they may try. All more reason to spin off now so we keep those shares if FNC enters a hostile or firndly takeover. - - - - - When he mentioned a takeover, Smith added Mineralfields didn't enter at .50 to .60 only to sell at .75. they want a strong position to make a lot more. - - - - - several here feel Sprott will take FNC into multiples. Smith will use part of 4 mil to drill Lac Lamalee, but I got the impression that if CHM gave Pat an offer to good to refuse, CHM would drill. If I had been on the phone I would have insisted on a phone call to Pat right away. - - - outside of Smith's legally resposibility: those in know are aware the FNC is about to be lifted, on purpose, to a higher average for the "possible" takeout offer. so goes the rumor. - - - - - excuse lack of spacing-phone typing won't allow it. -sg