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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 Henmystirsiron Jun 04, 2012 2:37pm
237 Views
Post# 19978312

Dividend should be annouced soon

Dividend should be annouced soon

The last dividend announcement was March 1 so I am thinking near the first week in June would be the next one. I know it is only 2 cents but there are not many juniors paying anything out there. I still am waiting for the company to resume buying back shares at these prices. The share price is too low in my opinion and the company should be buying and cancelling shares NOW... Lend me the money at prime and I will keep a floor on the share price. I don't think there is any material news on Shore holdings since it is too small of a holding. The few holdings that could make a material effect would be Allstar or CVG or Rallyemont. I am hoping that it is Allstar getting a joint venture to drill 30 wells or so. Say the joint venture pays 100% to get 70% of production. Allstar would get the 30% of say 1500 barrels or 450 net barrels with no cost and since Allstar has 100 to 150 drill locations then there is still many targets to drill on their own. If that could happen then Allstar would be near the 1000 barrels a day near the year end. I would think Allstar at that time would be valued at $60 million or about $4.00 net to FNR. That price would be 60% higher than the current trading price and it is on the books for about 30 cents. That to me gives such a big upside on the valuation of FNR that buyers/holders should be very well on the scenario. All in my opinion.

Bullboard Posts