What you are missing is that McFAulds is only one FNC property

1.. They are drilling for gold in the Beuce adjacent to GNH The area has seen a staking frenzy recently

2 They have substantial iron ore properties Magpie (50% owned) 1B tons? and properties on which CHM has option CHM has gone from .25 to .80 recently

3 Uranium property (very high grade)

And the market cap ratio NOT to FNC is 15 to !