FNC has enough money to drill several holes in their property and then would need to take down a PP if they plan on drilling any further. So I would imagine they hope to pull some good looking core and then be able to do a PP at much higher prices. Just a guess.

If you go back over FNC's news releases you will see insiders were granted options at $1.50 per share. Does anyone here not see the merit in selling some shares that you bought for pennies and sell them for $2.70 and then turn around and replace them with $1.50 option shares? Buying these option shares puts cash in the treasury to use for the up coming drill program. Money in the treasury affords FNC the opportunity to punch a few holes without doing a PP. Pretty good plan for the shareholders if it works and they end up taking a PP at much higher prices. Sure beats dilution. Sounds like a President of a company pretty damn sure he has the goods.

We can hum and haw all day long but in the end we have to admit Peter Smith runs a tight ship. Proof is in the fact there are only 27 million out standing shares. Its obvious he hasn't frittered away shareholders money with this company.

I don't approve of many things FNC does, but the fact remains, FNC sits on the most prized property in all of McFaulds Lake. JMHO

Al