I support the Smith/Granger team.

However, as much as I try to focus on the positives of Smith, I’d be in denial if I ignored Fani's criticism that reflects the voice of several large shareholders.

The Desolation Lake NR reflects a fear that Smith is regressing back to hobby decisions that fail to prove up properties. He's good at finding properties, but inept at the Larsen-like knack for moving forward with properties.

However, fear not. The perception of FNC has changed dramatically. Smith and Pat sat on Magpie for how many years? Whether it was Pat or Smith’s fault, there is no denying that things began to move once Granger came on board.

Accordingly, one could expect three to five upcoming news releases in the next week or two that will flesh out value of FNC properties. These news releases should add more meat to the Magpie Intent for IPO NR with: metallurgical results, an estimate evaluation for Magpie, a record on date deadline, and I hope a mention of one of the interested parties. I also anticipate the NR's to cover Lac Lamalee and McFaulds.

Additional NR’s could come from CHM.With their new cash infusion, they may be tempted to increase their number of drills to rapidly increase their total tonnage. They intend to sell in this hot market, not produce.

The heavy hitters still are trying to convince Smith for private placements, so we haven't gotten that large volume yet. But they will eventually enter. Once they do, Rago1 may be correct hat it does bode well for +.80c.

Even at .80c, FNC is woefully undervalued.I'm going out on a limb here, but I'd like to have some fun here to show why large shareholders are trying to throw money at Smith, who is wisely saying no.

A few, whom I suspect have knowledge of the metallurgical results, estimate the Magpie Inc IPO shares to be between .80c to $1.50 per every one FNC share. Let’s play with the low estimate: 0.80c x 60mil= 48mil. 48mil x 2 (Pats half) = 96mil. Add the extra percentage not owned by Pat or FNC and you get around 100mil for Magpie property.

When you consider FNC already said no to an offer for Magpie a year ago, prior to metallurgical work, and prior to Granger’s involvement, and there are currently several interested parties, 100 million seems easily a minimum estimate. Obviously, many of the longs would prefer more.

But this exercise shows why FNC is woefully undervalued, and I think the investing world is waking up to this.The current share price doesn’t reflect 17.5% of CHM, plus 1.5 mil shares, plus NSR, which should be valued at .80c to $1.00.Nor does it reflect our RGX shares, which if distributed brings a dime to every shareholder. Nor does it reflect our grassroots properties: Lac Lamalee, C-1 at McFaulds, Eastern Township properties, Desolation Lake, and others.

If there is reluctance by large shareholders, the next few weeks are critical to proving that FNC knows how to prove up its properties.

-StockGreed