Post by
Aallyy on Aug 31, 2023 8:35am
A tarnished jewel
Thanks to Maxmoe for the shadow knows ref, but seriously what has happened to this company is a great loss to the longs at this time. How can anyone see this company as a junior explorer anymore; there is awaited news on drilling on the Eastern Townships Clinton property announced in July, but that seems to be it on the exploration front? The proxy fight of '21 was a disaster for shareholders.
Fancamp's current vision is that of a holding company, mainly investments in OTHER exploration companies! Some directly related to its directors such as Platinex and NeoTerrex,EDM and the grandaddy of them all KWG/CCC.
The lack of interest in its own properties is shocking when measured against its peers.
Maxmoe made the point there is no value assigned to the majority of its land holdings because no work has been performed on them. This doesn't mean there is no future value in them if properly managed. They have the funds to run an exploration project or two or even three.
All hope is not lost but something's gotta give.
Comment by
StockscoutX on Aug 31, 2023 10:56am
Totally agree with you but when there is an announcement of delay in filing annual financial results and issuance of management cease trade order usually something that isn't in favor of shareholders results in the majority of cases. I hope that this one is the exception.
Comment by
dmtc on Aug 31, 2023 11:10am
Great post and agree on all points. As the current management doesn't really care about the company, and can't even report their financials properly, they really should just work out a deal with KWG. Everybody wins if they do. Hopefully personal vendettas aren't in the way. I'd support a vote to sell to kwg for sure.
Comment by
Aallyy on Aug 31, 2023 11:59am
Don't think they really care about personal vendettas, more pathetic than that. They like to keep bashing the guy who put the company together to distract from what they are doing. Just a nasty tool to try to justify themselves. As for KWG, I agree, a takeover at around $1.00 per share would be fine with me but can't see any cash around for that to happen.
Comment by
dmtc on Aug 31, 2023 12:27pm
I don't see what they gain seeing they have control over the company now anyway. I don't see the cash either. Hopefully another smart player in the background. $1 a share seems fair, or possibly a lesser number but also including shares in Magpie, Kwg, or other.
Comment by
Aallyy on Aug 31, 2023 2:04pm
Thanks dmtc, I don't think they gain other than having a convenient smoke screen. The treasury is at their disposal. A big player would be good to get the obstacle out of there... We are an attractive Canadian company once the tarnish is removed. Feeling $1.50 plus eh :)
Comment by
dmtc on Aug 31, 2023 5:13pm
So I guess there real mystery is if a big player is actually interested. Yes! I'd put $1.50 in freezer. Looking for cold hard cash!
Comment by
Dragon23 on Aug 31, 2023 7:51pm
I really do not know the FNC story well. I do know that they hold ...used to at least....significant CIA/Champion shares. I assume that they have a full kitty to extend a $34m loan to KWG?? This is all too much cloak and dagger....someone just needs to provide shareholders with a realistic update. It seems obvious that some entity with money to spend is hanging around. BHP? RIO? Franco-Nevada?
Comment by
Aallyy on Aug 31, 2023 9:23pm
The problem is there is too much cloak and dagger. Getting a straight answer is not highly likely. This story has so many layers but let's hope the bigger fish can see them for what they are and not be deterred to make some magic happen.