Yup, looking at the big picture, this is a paper swap between the 2 companies. Some postive spins would be.

- CHM is now free to do whatever it wants to do with the Fermont property without dragging FNC along. FNC will have 2 directors at CHM board but essentially as observers only? for certain decisions. The arrangement would result in a simpler situation for Fermont

- FNC: Free from obligation to arrange matching finance for its 17.5%. It will be one of major shareholders of CHM that has more than 10% OS of CHM.

- FNC Board will have 2 new faces from CHM (majority shareholder of FNC?) to put in their expertise in other fronts that Peter does not have time nor expertise to tackle. Hope that they will be influential enough to beef up the marketting (e.g. spin-of non-key assets including McFaulds and Magpie) effort.

- It would be no surprise to see McFaulds spun off to be sold to Sir Richard who could end up hitting the Ni elephant, big time, on the east side of Eagle... and that would be something. Perhaps, it time to get in BOL?

goldhunter