Fancamp Exploration Ltd V.FNC

Income

[FromSudbury]

Dividends from 3.1 million shares of CIA; semi annual @ $0.10/share = $620,000/year
Interest on $33,000,000 loan to KWG @ 6% = $1,980,000/year

That's over $2.5 million/year for a company with a market cap of only $15,000,000

[Maxmoe]

Nit pick but.... no longer 3.1 million, it's 2.75 million as at jan 31,2023 which is from the quarterly financials filed in March. There has been NOTHING filed since then. The 10 cent semi annual dividend would = $550,000 per year.  That's a big assumption they haven't sold anything since then. The interest on the notes is payable in cash or kwg shares at kwg's option. Have

[miner540]

To date, KWG has paid the 6% interest by issuing additional shares to FNC.  Maybe income, but no related cash flow.

[FromSudbury]

In the same way we don't know if FNC sold any more CIA shares, we also don't know if they sold any KWG shares.  With the dividends from CIA, I doubt they are short of cash.  Correct me if I'm wrong, but FNC is getting KWG shares regularly, and I didn't see anything about a holding period.  So, although it's not cash, it's easily convertible to cash. I also

[Maxmoe]

Minus the bizarre $1.5 million.