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Message: Value of FNC's CHM Holding (170% of the current market cap)

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Value of FNC's CHM Holding (170% of the current market cap)

posted on Sep 02, 11 12:25AM

TSX CHM:

CAPITALIZATION

87,543,268 Outstanding Shares

vMarket Cap: $117,3 mil (82.5% of ownership)

Share Price: $1.34

TSX-V FNC:

CAPITALIZATION

74,680,000 Outstanding Shares

vMarket Cap: $18 mil

Share Price: $.24

$4.5 mil (1.5% NSR royalty, buyback on .5% for $1.5 M)

$1.37 mil (FNC holds 1,025,000 shares of CHM.)

$24.88 mil ($117.3 mil x 17.5% / 82.5%)

-------------------------------------------------------------------------------
Total -> $30.75 mil

30.75 / 18 = 1.708 (170%)

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