Argument for FNC McFaulds property offer by Noront

Smith is likely correct that the Fancamp property at McFaulds will be sold in order for Noront to produce. The physical space likely requires it, considering they needed to go onto FNC's side for geo physics.

Hoov wrote on NOT site, "I do know that Fancamp was contacted for permission (not a legal requirement, but it's the gentlemanly thing to do) to lay geophysical coils across onto FNC claims. You need to go out beyond the area you're hoping to get data for, because the edges are unclear and subject to artifacts. But it does indicate that they're looking once more at the area where the drills have previously failed to explain the geophysical anomalies. There have always been a lot of drill targets around Eagle's Nest."-Hoov

I'm sure Peter Smith is curious what Noront discovered. He always maintained nickel forms in plume clusters. From Noront's last NR, Mr. Hanson adds: "The Company continues to operate two drills, both of which are testing anomalies identified by an ongoing, ground based, geophysical survey that is underway at the Eagle's Nest Complex. Company geologists believe these anomalies may represent buried nickel sulphide mineralization that airborne surveys failed to highlight".

Now one assumes they are revisiting the locations that got Harvey fired for not discovering nickel- next to Fancamp's border. Coils on FNC is part of the "ongoing ground based geophysical survey." One could assume they are drilling holes to get new geophysics down there. But why not use a previously drilled hole? Perhaps to scan in a different location, that would require stepping onto Fancamp property.

But what renewed their interest?

I think Wes' words "testing anomalies" is curious. Does testing mean drilling holes into anomalies to see what it holds because they already know where to drill or drilling exploratory holes to do geophysics in order to determine where to drill.

Obviously the SP jump biases the a ground crew leak that they found nickel from some recently drilled hole. It's not from an old assay just reexamined, because onsite XRF scans would let them known what's there immediately.

So what brought them back to drilling a new hole on FNC border?

Perhaps the airborne indicated an anolmoly that didn't add up to the results of drills that didn't yield fruit. So they dropped downhole geophysics, this would be the "ongoing" aspect. They redrilled, this would be the "testing" aspect. They hit nickel, this would be the SP jump. If they hit chromite, the SP would have decreased.

Now they are placing coils on FNC side to further scan the nickel find. Unless the nickel is 150 meters down and 30 steps from the border, the nickel is likely deep.

And this gets back to Smith's original idea, Noront is going to need to buy out Fancamp. If nickel is deep and close to a border, the physical space to mine would require FNC land.

But considering how diluted Noront is, that next step of consolidating will require someone to buy the offtakes to afford production and buying FNC land. That makes an offer for offtakes that much sooner than waiting for Noront to produce in order to buy FNC.

A cash infusion for offtakes likely involves chromite as well as nickel. FNC may have more chromite than Noront.

Depending on who makes the offer, how attractive would possessing FNC's chromite be? It is even more attractive if nickel runs across borders, which Smith says explains the meters of massive sulphides /nickel on FNC land.

FNC's McFaulds property is for sale. Does Baosteel or Cliffs want FNC, for Noront offtakes?

As mentioned in other posts, there are large institutions lurking tryign to buy large positions in both FNC and CHM. Ths may be provoked by either a desire to own Fermont or Magpie. it is unknown whether the motive to capture votes for a takeover or simply profit with the rest of us. As someone who represents a chunk of FNC, my desire for several dividends from a collection of properties is strong. Should a takeover occur, let us profit before hand from dividends, then during an offer for the whole company or for the trophy properties.

-StockGreed