I don't understand how anyone is possibly pinning their hopes on Smith. Have you all not seen the evidence of this man's ability. He is incapable people!!! He should have bowed out a long time ago after he managed to amass a nice slate of properites, but then blew it with his laissez faire approach as this man cannot leap into action and does not feel any desperation to earn his paycheque. He has been conditioned to be self-entitled and has always made sure he gets on the board of other companies, but he doesn't know how to create and drive value for shareholders of his own company.

I will personally be delivering this message to him this weekend and i am willing to start a petition or an attempt to get him out. I hope to appeal to his common sense and go over all the evidence of failed opportunities and ask him to step aside and appoint someone who has a business knowledge and savvy to acutally create value. Enough is enough and we should demand better representation of OUR company, not his.

This includes a plan of arrangement folks with other companies who can help us become more profitable, whether it's Noront, Champion, etc... there are much much better management teams who can do a better job for us. I don't know what people are waiting for - i have seen nothing but shareholder destruction and lost opportunties over the years, but Smith sits back and collects his handsome paycheque..which he is done for 25+years!! You think he wants to give that up??

Recently i shared some hypothetical take out offers and he would not even entertain the idea. He actually became paranoid and thought I was a shark or questioned who i worked for. I had to remind him that i am one of many frustrated shareholders! The offer by the way would have to be something astronomical and completely unrealistic before he even took it to the board or if a company went hostile, otherwise we don't stand a chance to get some value because he his strongly disliked by Bay Street and other mining folks in TO which he conceded to me himself. With so many people rooting against him, it's only going to hurt our chances to get some respect and people to invest in us.

PM if i have your support.

Thanks,
Eudai

Oh and did you see all the options that were issued before the run-up?! Coincidence? Likely not...lol

I have the same thought ducks. The trading and volume would certainly indicate somethings up from what I've seen.

I think there could be a nice fit with Novagold, which Thomas Kaplan runs, and he was also involved in the latest financing with Kaminak. I think it would be easy for them to make an all share deal and focus on developing Kaminak and generating cash flow while there other two monster projects will take a lot of time and money to advance. So Novagold is my guess, but who knows...Kaminak has sweet margins and a ton of upside.

The question is how much does it go for?? Any thoughts there?

Have you looked at the companies website, presentation or just spoken to Peter? We lack serious leadership and business acumen at the top - the BoD are just content collecting their directors fees and options and standby to watch this mediocre leader at best steer the company. I am ashamed of their low standards and expectations for how a company should be run in the 21st century! There's no excuse for Fancamp to be at ridiculous valuation even with the Venture being the way it is - not if they had handled assets properly. It's time for shareholders to stand up and demand more accountability and professionalism. If he can't get the job done, then he should step aside and bring someone in who get actually reward shareholders. I have no idea why you defend him bluebird or Rago or whatever your name is....you clearly wanted him out before and now you have changed your tune... what gives?

Yes, there are great examples of companies already rebounding. Peter and you use that excuse all the time. Funny thing is that even when the Venture was fine, Fancamp always traded below book value. What's your excuse then?

there is obvious proof that Fancamp could hold shares of Franco Nevada and it would still not translate into fair valuation for Fancamp! Peter Smith, I want concrete timelines, i want a vision and a corporate strategy that will convert "value" into real valuation of the company REFLECTED IN THE SHAREPRICE! If you and the board can't get this done, you should all be out on the street as far as I'm concerned. The board is failing miserably at developing this 25 year old company into a real player and they are responsible. Funny, not one of them is ponying up and using their directors fees to reinvest in Fancamp. I only saw one director around Nov/Dec splurge a little and he's already in the red. Peter Smith is a joke of a businessman and he's hurt this company and shareholders tremendously with his laisse faire attitude and lack of drive. He's in for himself and doesn't know how to create a winner. We need to get him out to have any chance. He's going to eff up the Magpie opportunity big time, i just know it. I have no faith him in and have been waiting for a little pop to come along so i can get the hell out.

GLA,
Eudai (a very frustrated long term holder who's annoyed with complaceny of fellow shareholders- we should all demand action and a change!)