Fnc would give it's 17.5% interest in Fermont to Chm

in exchange Chm would issue millions of it's own shares.

then Fnc would be the largest shareholder of chm and MOST likely agree with Larsen and the board to vote it's shares for Management in ALL cases - including a hostile bid.

Fnc would then not have any further obligation to fund the exploration of these properties.

going forward fnc would be diluted along with everybody else as $$$ are raised

FNC should keep it's 1.5% NSR out of the deal.

Question is what is chm willing to issue for that JV interest --- 10-20% of outstanding shares is what is rumoured.... Devil in details.

PS - somebody does NOT want to make money and let the stock price rise... there is a big effort to hold the price down.