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Fancamp Exploration Ltd V.FNC

Alternate Symbol(s):  FNCJF

Fancamp Exploration Ltd. is a Canadian mineral exploration company. The Company is focused on strategic interests in its high potential mineral projects, royalty portfolio and mineral properties. The Company is focused on an advanced asset play with a portfolio of mineral claims across Ontario and Quebec, Canada, including copper, gold, zinc, titanium, chromium, strategic rare-earth metals, and others. It has investments in an existing iron ore operation in the Quebec-Labrador Trough, a rare earth elements company, NeoTerrex Minerals Inc., in addition to an investment in a zinc mine in Nova Scotia. It is developing an energy reduction and titanium waste recycling technology with its advanced titanium extraction strategy. Its properties include Clinton Property, Stoke Property, DiLeo Property, Grasset Property, Riley Brook property, Gaspe Bay Group Property (including Boisbuisson and St. Marguerite), and other properties. The Clinton Property is located in the Appalachian region.


TSXV:FNC - Post by User

Comment by Aallyyon Aug 16, 2023 8:25pm
111 Views
Post# 35592067

RE:What's the hold up here?

RE:What's the hold up here?Big question Scout, anybody's guess.  The problems with Fancamp relate to who is running it.

They opined there would be a huge increase in share price after the really nasty proxy in 2021 and that has not happened but the salary, bonuses, options and directors fees etc  are now spread thickly. I think, but not sure there is still a huge hunk of cash in the kitty, which was the main reason, imo, why they pushed Smith out in the most egregious way. 

It is a shame in how the proxy was one; in particular, a coincidental deal whereby a single director bought 22M Fancamp shares ( nobody knows how much they were bought for it seems) from Champion Iron Mines. At the same time the non- recourse royalty of 1.5% held by Fancamp with respect to many Champion properties was cancelled!!

So the 22M shares are a solid block for the money shirts...not helpful for the exploration minded shareholder supporters and may be hard to beat when you add in all the options the money shirts have at an AGM.

A  white knight would help by buying up at least 22M shares!


So there could be a nice or hostile takeover bid, another proxy or something else, seen or unseen...anybody's guess.

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