In my opinion the deal with CHM has changd the companies propsects dramatically As long as FNC faced cash calls for Fermont there was the need to rsise more money and more dilution. Also now the infrastruccture for F ermont have improved rail line slurry pipe etc

Raymond James wrote the fairness opinion for FNC including the .30 financing I thinkthety will recommed both CHM and FNC They are the largest retail brokerage house in Canada I anticipate other buyers starting Tuesday as well I was told by MF that they are not sellers in size before .40 FNC has been getting inquiries fro other institutions as well We will see Magpie should move forward now I was told by Secutor and IAI that they were not allowed ot buy because they knew about the detwils oif the deal with Fermont

More drilling in lac lamalee Desolation lake (Which could be a major long term find) and the Beauce

I thnk in the end FNC future is as a royalty company more than as an expolration company