McLoud,

I must be forgetting points as I am not recalling a 43-101, yet you note an upgrade to one. Seems like PRB has had a 43-101 on their McFaulds chromite deposit but this has not attracted much attention or at least attention that is public other then a price half of what FWR received. Despite record spending on iron properties and possibly billions of tonnes of iron mineralization being outlined by many companies there still has to be someone that needs the resource. FNC's success in the iron play depends on a major wanting the tonnage at a price they will set. IMO there is hardly a line of buyers out there. This coupled with a shakey economic picture and the flip side of your rosy outlook on iron prices and a double of titanium prices might not be so bright.

Back in march the story line at the PDAC was that the metaluragical process for the titanium rich iron was complete and process was priority. Despite this it seems like they are still working on it and with little info floating down to the SH's.

Unpleasent financing is behind us??? Could be but Mcfaulds drilling is expesive, so to will any drill program at Desolation Lake.

I would love to see a positive run on the FNC SP but am not seeing anything positive, just more of the same.

mh