RE:RE:RE:RE:RE:Cash Flow and Income Tax LiabilityThe way I see it dragon23 is KWG took the opportunity to get to 100% ownership of the Koper Lake claims which it had started to do under Smith's tenure. Smith worked to move the project forward. The fact that kwg are well situated in the ROF region and have been for a very long time makes sense that they would be able to consolidate and capitalize on the highest grade chromite discovery in Canada, thanks to Mike Flanagan who was the VP of Exploration for Fancamp while working with CEO Peter Smith (who is the co-founder of Fancamp and as most know, was and still is brutally treated,as written in continual MD&A' s, by his unmentionable replacement and management in general.)
I think if Smith had not been treated so badly there would have been a natural coming to terms at some point. Enter the Magpie as an extension of KWG's plans to enhance and derisk its operations further. This agreement to get control of the Magpie board by KWG is another step toward making something positive happen for both fancamp and kwg shareholders. (For those unaware, The Magpie Mines was setup as a private company in 2007 and was created through the 50/50 merger of Pat Sheridan's SPG group and Fancamp's interest in claims covering the well known world class titaniferous magnetite deposit with an Ni 43-101 inferred and historic of nearly 1B Tonnes!)
So, I think Kwg has been doing something to be of benefit to its shareholders on a large scale. The fact that fancamp has balked at the announcement of kwg to get control of Magpie speaks to where things are at.
Fancamp, through its many inabilities is probably not too happy to merge or be taken over by kwg.
Based on the proxy fight of 2021 where there were questionable happenings,imo, such as the 22M FNC share sale from Champion Iron Mines to fancamp director Ashwath Mehra's private company in Switzerland, at the same time as the canceling of the non recourse Champion Iron royalties held by FNC, this provides an example of how things might play out in the next AGM.
In order to replace the current fancamp board, the mostly older shareholder base of FNC would need to agree to get together with a higher count of shares, obviously.
Current operators are a formidable force and not in a chivalrous way. If Kwg can somehow come to merger/buyout terms with Fnc to benefit shareholders in both companies then it would bring KWG to a much higher level.
My thoughts for the moment.