First Nickel Inc. FNKLF

RE: the numbers - "disconnect"

[victor75]

Yes, I have also done very well with FNI (from $0.30 up). I believe that the right investment strategy here is probably a "steady as you go" approach, with further accumulation on weakness (e.g. today), assuming you can that is. They say that "patience is a virtue", and I am confident that all of us FNI "longs" will no doubt be further rewarded as the year progresses! I see that under company details, this SH site shows about 138 million o/s shares on FNI. This # should include the recent 15 million Desjardins PP shares, and the Sept/06 PP share warrants that have been exercised to date. If this # is correct it would appear, from my approx math, that most of the warrants had in fact been exercised now, and only about 6 million ($144 - $138 million) still remain to be exercised before Sept/07. Some of the "downdraft" that we have recently seen in pps from the $2.00 level to $1.50 could well be these $0.50/share exercised warrants being sold into the market to take profits. Victor