I've been thinking lately about this option agreement that FNC has with Bold...who later optioned that off to KWG.

"Under the original Earn-In Option Agreement announced May 7, 2012, Bold can earn its initial 50% interest in the Project by making option payments totalling $1,500,000 and expending $8,000,000 on exploration of the Property over 3 years after which a 50/50 joint venture would be formed between Bold and Fancamp."

The latest news with regards to this option agreement is this:

"KWG and Bold Ventures Inc. (“Bold”) have extended to December 30, 2014, the deadline by which KWG must provide that it intends to make the $700,000 option payment due February 7, 2015 under the KWG/Bold Option Agreement and expend an aggregate of $8,000,000 on the property by March 31, 2015. KWG has to date incurred $5.8 million of the $8.0 million required expenditure and is proceeding with a prospectus offering of securities to fund the additional work. If the notice is not delivered within the extended time, the Option will be terminated."

Since then....

"(“KWG”) announces that it has withdrawn its amended and restated preliminary short form prospectus"

Now, if this option agreement is terminated; FNC will have gained a few bucks along the way in addition to $5.8 million of free exploration....in addition to a few shares....and will be in a position to move forward with this property themselves....or option it off to someone else with some cash. The timing of the Probe buyout by Goldcorp and the spin off of the new Probe; with $19 million in cash could create such an opportunity.

Some media reports lately have created some optimism with respect to Noront's Eagle's nest project (that's the one right beside FNC's property). In the past week alone, Noront has went from a low of $.255 to a high of $.39 today. In addition, Probe's share price has been gaining a premium over and above the intitial offer price, which appears to be indicating that either their ROF propery (the new Probe) might be increasing in value OR a higher offer is forthcoming.

Regardless; my expectation at this time...moving forward, is this....

Bold/KWG will not meet the requirements of the option agreement and the property will revert back to FNC.

FNC will then option the property to Probe; perhaps with larger upfront payments due to the $5.8 million recently spent...or better yet....a three way deal with FNC/Probe/Noront to consolidate the chrome interest of each

Noront will get their environmental assessment approval

Construction will begin on an E/W all season road with the backing of all interested parties (natives/province/feds)

...hopefully within the next few months