Dear Posters.... in reading everybody's take on this latest financing it is clear that all the speculating as to who is in and why etc... does not change the history.

at the peak of Noront share price and fnc was at 3 bucks - peter turns down a cool 10Million at higher prices - snubbing the market - thinking he was going to the moon. WRONG.

last 2 years - peter - jumps at too many financings - mainly flow thrus - badly priced - indicative of DESPERATION - and take anything that comes along.

so many financing that he kept going to same fund - mineral fields and allowed them to attain 30% of company - and i don't care what they say - we have no shareholder agreement or standstill agreement and they along with Pat control too much of the company ... that makes me uncomfortable.....

peter does NOT need the money today as Corvette suggests. This financing should not have been done at 75 cents.... again my perception is peter acts out of fear and lack of savvy about markets and definite lack of strategy.

Geotech - subscribed for 4m shares or $2m dollars - to do what - get the 2 m back for a vtem study on virgin property... how much of a waste is that!!!! more targets are nice but in our case won't add value.

rago says we are an exploration company - true - so why do crummy deals and give up fermont to chm and watch their market cap go to 207M argex - look what they are doing and mkt cap of 31M --- where is fnc ???? 43M - this is NOT good business practice.

certainly there is a disconnect with the general market and fnc shareprice - that all stems from poor management of the assets.

nothing wrong with exploring - but you have to PROPERLY develop some of those properties - they will try and do this with Magpie -

DOES ANYBODY KNOW FOR SURE - ONCE MAGPIE IS TAKEN PUBLIC - WILL THOSE SHARES BE GIVEN TO US THE FNC SHAREHOLDERS - OR WILL FANCAMP HOLD THOSE MAGPIE SHARES - AND ALLOW PETER TO SELL THEM AND FINANCE MUCH MORE EXPLORATION AND FIND NOTHING OR DO DUMB DEALS LIKE ARGEX AND CHM????

You better find out - i believe Mineral fields would want the value unlocked and not leave peter in control.... sure give him some money but not sit on the total windfall... if that is the case then - hostile takeover in order.

PS remember - all the interesting properties of fnc came from Sheridan - that is why he owns 1/2 of magpie - chm (although he sold out) and lamalee. - Not sure about Argex although i think that was his - credit where credit due.... but 4 year escrow - so naive!!!

so please - look at the past patterns and facts --- and start to WORRY!

DON'T GET ME WRONG - I TRULY BELIEVE FNC WILL INCREASE IN STOCK PRICE AND GO UP - INSPITE OF PETERS' INEPTITUDE AND BAD NEGOTIATING ABILITIES.... THANK GOD FOR GRANGER...

QUESTION IS CAN WE DO SOOOO MUCH BETTER IF HE WOULD JUST EXPLORE AND MAKE NO DECISIONS ON CORPORATE MATTERS.

upwards and onwards.