Mtl_gold and Cinema

Mtl_g: you said "Take a look at RGX..." I did, again (I have been tracking all these companies) and AGX is at $0.83, a gain of 100% during the first 3 months of 2012, and FNC? A drop of 33% during the same period.

Now, we/FNC owns 9M shares of RGX, 9M x 0.83 = $7.5M. we/FNC also has 17.5% of CHM, 17.5% of $160M = $28M.

7.5 + 28 + Magpie + McFaulds + Lac Lamelee + Desolation + etc...= $35.5 M + the rest.

Also FNC has some $10M cash? But this is minor detail when FNC value is compared with the Market Cap of $18M. There something seriously wrong with this picture.

In view of the two current events at two neighbouring companies:

- RCF declared itself as a majority shareholder (got over 10%) of NOT;

- Mcquarries just made known that it now has 10.0% of PRB

It would not be a surprise to see similar thing for FNC: Scooping the whole thing is no big deal for some deep-pocket (the pocket does not need to be too deep) since CHM and RGX holdings + cash is more than adequate for $18M + some premium. Even 2x of $18M is still quite profitable for an acquirer. Let's consider 10% only: 10% of 2x18M = $3.6M. But, this 10% may cost only $1.8M if purchased on the market. $1.8M is chump change in this business. Just wondering if our JV partner for McFaulds, BOL, has been salivating on this potential opportunity.

goldhunter (unfortunately, not having enough cash in the back pocket for that 10% of FNC. Can we form a group of 6 small investors for $300k each?)