Hello Duncan, and thanks for starting this hub.

A newsletter I subscribe to got me into FNR a few weeks back after I started comparing share price to NAV.

As I recall their NAV (calculated at their cost) is about 30% higher than their share price.

If they base their NAV on the fair market value of their assets, I think you're looking at a value north of $6 per share.

Other good things I like :-

1) Experienced and well respected management

2) Shareholder friendly

3) Applied for a TSX listing

4) Plan on paying dividends (maybe as early as 2012)

Their assets/potential are too numerous to list here, but I would encourage everyone to go to their website to do some DD. You will be impressed.

http://www.fnr.ca/html/ab...

the newsletter writer I referred to earlier, recently had a telcon with the CEO, this is an extract :-

......he has disdain for how most vancouver based resource companies play out with dilution and insider dealings. FNR was started as he said to “put an end to all that crap and build some companies”.