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49 North Resources Inc V.FNR

Alternate Symbol(s):  FNINF

49 North Resources Inc. is a resource investment, financial, and managerial advisory company. The Company’s principal businesses include investing in a diversified portfolio of common shares and other securities of resource issuers including, without limitation, resource issuers engaged in mineral or oil and gas exploration and development, with a view to achieving capital appreciation of the portfolio. It invests in all sectors of mineral exploration as well as oil and gas exploration and production around the globe. The Company’s portfolio is comprised of investments that are predominantly Saskatchewan focused on private and public resource issues at various stages of development. Individual projects range from grass roots exploration to near feasibility in the minerals sector and early-stage production of hydrocarbons.


TSXV:FNR - Post by User

Bullboard Posts
Post by denisonodon Jan 05, 2012 10:14am
400 Views
Post# 19372157

MW, where are you?

MW, where are you?

MW,  We miss you on the board.  With the Kimpar liquidity event on Jan 3, FNR's NAV increased by ~C$6.2 million and the Kimpar project should now be able to proceed.  Even better, FNR's total cost for the Kimpar (now CPK) interest was C$1.2-2.0 million.  This is hard to figure FNR's shares of Kimpar went from ~45.2 million to ~50 million and I do not see the cost, if any, and I'm not sure where the C$500,000 cash paid for 5 million CPK shares came from.  For now, I'll assume it was from FNR.  Max cost to FNR was most likely less than C$2 million.  Market value of the 22.15 million CPK shares at yesterday's close was C$8.86 million.  That is at least a C$6.86 million (344%) profit in less than 13 months.  Note: FNR aquired the Kimpar interest in mid-Dec 2010.  Granted, the CPK share price will fluctuate; however, the key is not the next 6 months but rather what happens over the next 2-5 years.  Tom has stated all along that the oil cash flow is not the end point but rather a foundation for both a growing dividend and to fund the mining projects...which are more long lived.

Bullboard Posts