Highlights: from someone a bit more optimistic

"sincere gratitude and thanks to the Fancamp shareholders and stakeholders for their support in 2012"

"two essential elements for success in the mineral exploration industry -a pipeline of key projects, royalties and company interests, and the people"

"commend the work of our strategic partners, Champion Iron Mines in the Fermont Iron Camp, Argex Titanium with their titanium extraction technology and Bold Ventures in the Ring-of-Fire"

"Two factors have likely contributed to these prices - the general downward slide of the junior market, a trend that started in 2008, and the uncertainty brought about by the dissident shareholder actions"

" There may be circumstances where we will finance under adverse conditions or to increase and strengthen key shareholder positions."

"As an alternative to equity financing we will focus on our "pipeline" of liquid assets, as well as cash received from advanced projects, future royalties, and early-stage and new project deals."

In summary, I'd just like to state the following:

I too am pleased with the support of the shareholders

I believe the elements for success are in place...in properties and in people

I believe we have great strategic partners

I believe our share price is primarily the result of general market conditions with respect to the venture exchange

I believe that the costs associated with the actions of the dissident shareholders and the uncertainty that created was a negative factor in our share price

I believe the financing was a positive step in moving us forward

I believe management is committed to creating value for it's shareholders

I believe 2013 will be a better year for Fancamp