Gentlemen of the Board.

we all agree that fnc owns great properties and that fnc is undervalued.

smith has done absolutely nothing to convince the markets of this... and hence is not the man for the job.... i keep saying this - trying to get some support.

bottom line - share price is down - dilution over the last year and half has been useless.... peter is hand to mouth with his financings and the only reason he was successful was a "hot market" with people looking for flow thru.

frankly peter wasted a lot of money he did not do what Chm and RGX have done - establish a following...

that geotech deal for the beauce ??? where is the results of that - where is bang for buck?

argue all we want about what the value should be ... what is could have been under a sharper market CEO would make us all drool... but we settle for less than mediocricy.

if FNC cannot even trade at the value of the fermont equity interest then we "houston we have a problem" and history repeats itself and so Peter is the only person to blame since the buck stop there.

chm is up 30 cents in last couple of weeks - hence our rise should have been 6 cents or more.... and ????

enuf said.... we need a revolt - peter has to be demoted to chief geologist - we need nu blood ---

otherwise - just make a hostile bid somebody - please and put us out of our misery.