LNR - Lanthanein Resources

[Pommiegranite]

Oh dear, Oh dear.

1.Capex huge.
2.Production in 2012
3.Then there's the unresolved Political/Environmental issue.

IMO, there only solution is to get a lower capex project online asap (possibly a gold project).


A shame really.

 

[crombo97]

Kodu looks positive to me
2012 is not that far away!!!
4-5 years till production sound like a genuine timeline
Full steam ahaed for here!!!!!!!!!!!!!

 

[Bushman]

Oh dear, Oh dear.

1.Capex huge.
2.Production in 2012
3.Then there's the unresolved Political/Environmental issue.

IMO, there only solution is to get a lower capex project online asap (possibly a gold project).


A shame really.

Its definitely a visionary type project. $600m Capex is large and likely to blow out further given the ultra sensitivity of the works to the location of Kodu. Did you guys note that it was double the cost to run the track from the west to avoid Kokoda. Then there is talk of modern mining techniques to protect the track and the site. Modern usually means expensive. Also 2012 is a fair way off. Who is game to place a long term forecast (4 yrs plus) on copper?

Fighting words from the McNeil's about the right of the landowners to push ahead with the mine. PNG gov't seem to be supportive of the mine.

I agree with the need to get a secondary, smaller and cheaper mine in to place to gather momentum and cashflow. The gold deposit at Andewa is the one that springs to mind. Elo was mentioned again as being a 'copper/gold' provence.

I'll be waiting for the mining licence or some other drilling hits and pay the premium with this one. In the long run there could still be good profits to be made. Tomorrow should be interesting. I dipped in earlier but have a stong aversion to the politicisation of asset decisions. Really is a pity about the political interference from Australia. A nation built on the back of mining trying to deny another nation the same right seems a bit rivh to me.

Anyway my views only. Good luck to the holders though. You have to give it to the FNT board. They are giving s/h and the landowners 100% effort with this one. Love their passion for PNG and PNG mining.

 

[evwatkins]

PNG flood toll reaches 71
By PNG Correspondent Steve Marshall

Posted Sun Nov 18, 2007 7:04pm AEDT
Updated Sun Nov 18, 2007 8:39pm AEDT


More than 70 people are reported to have been killed in Papua New Guinea because of heavy flooding caused by Cyclone Guba.

Seven consecutive days of heavy rain left a trail of destruction in Oro Province, north of Port Moresby.

The death toll has increased dramatically since Friday evening from three to at least 71, with another 55 people missing.

Reports from the provincial capital Popendetta claim the town is like an island with roads and bridges to the airport and main wharf destroyed.

Disaster officials are still assessing the damage and fear more deaths could occur if the thousands of people displaced by the rains are not helped soon.

 

[kgee]

"Kokoda track in its "popular" form, is a post 9/11 Australian nationalistic and commercial creation"
While probably true I wish he'd tone it down a bit ...no point in trying to antagonise them.

 

[barrett]

Oh dear, Oh dear.

1.Capex huge.
2.Production in 2012
3.Then there's the unresolved Political/Environmental issue.

IMO, there only solution is to get a lower capex project online asap (possibly a gold project).


A shame really.

1 The capex estimate is well within expectations. eg MGO Conceptual Mining Study Capex $1.1 Billion.

2 Were you expecting someone to just flip a switch and the concentrate flows onto a waiting barge? With 18-36 month waiting times for large grinding mills, 4 years for feas + build was always a given.

3. As the Australian delegates themselves stated, they have no say!

Why do they have to have a low capex project? Why not a JV, say with FNT free carried 30% as Novagold negotiated with Barrick on Donlin Creek?


The take home message from the Conceptual Mining Study is that even at a copper price less than half what it is today, Kodu is still economically attractive. This may come as a surprise to some in the market since the grade is on the low side.

Further, at today's copper prices the mine pays off the entire capex and is cash flow positive within one year. This CMS is the best outcome FNT could have hoped for. It's a big positive for FNT to move forward with a feasibility study at Kodu.

An arrangement to JV Kodu would probably be ideal, with FNT then moving on with its core expertise of exploring its many gold prospects in PNG.

As an FNT shareholder I will be writing to congratulate the team on their efforts over the past 6 months which have paid off in spades.

We are in a long-term commodities bull market. In the coming decade we can expect the industrialisation of Asia and few new discoveries to keep the price of copper well supported.

FNT is a chance to buy an economic deposit with A$7 billion in ground metal value, for about A$20 million - about 1/3rd of 1 percent of its in ground value. This is simply because a political issue is being blown out of proportion. The fundamentals are 1. PNG is mining-friendly, and 2. The traditional owners have a right to make a living off their own land.

 

[nioka]

Certainly some jumpy FNT holders this morning. in the pre open bidding the indicative price has gone from 19c to 21c and back down to 18.5c. now 19.5c. Where will it end up. Is it up and down rampers or just those wanting to cash in a profit with those wanting a piece of the action on open following the good news.

 

[Nyden]

1 The capex estimate is well within expectations. eg MGO Conceptual Mining Study Capex $1.1 Billion.

2 Were you expecting someone to just flip a switch and the concentrate flows onto a waiting barge? With 18-36 month waiting times for large grinding mills, 4 years for feas + build was always a given.

3. As the Australian delegates themselves stated, they have no say!

Why do they have to have a low capex project? Why not a JV, say with FNT free carried 30% as Novagold negotiated with Barrick on Donlin Creek?


The take home message from the Conceptual Mining Study is that even at a copper price less than half what it is today, Kodu is still economically attractive. This may come as a surprise to some in the market since the grade is on the low side.

Further, at today's copper prices the mine pays off the entire capex and is cash flow positive within one year. This CMS is the best outcome FNT could have hoped for. It's a big positive for FNT to move forward with a feasibility study at Kodu.

An arrangement to JV Kodu would probably be ideal, with FNT then moving on with its core expertise of exploring its many gold prospects in PNG.

As an FNT shareholder I will be writing to congratulate the team on their efforts over the past 6 months which have paid off in spades.

We are in a long-term commodities bull market. In the coming decade we can expect the industrialisation of Asia and few new discoveries to keep the price of copper well supported.

FNT is a chance to buy an economic deposit with A$7 billion in ground metal value, for about A$20 million - about 1/3rd of 1 percent of its in ground value. This is simply because a political issue is being blown out of proportion. The fundamentals are 1. PNG is mining-friendly, and 2. The traditional owners have a right to make a living off their own land.

Yes, I agree - the CMS looks to be very positive? Don't know why the negative attitude Pommie : I definitely appreciate that it's a lot to raise, but we may yet find partners - and it was mentioned a while ago something of an open-pit gold source which would be used with regards to aiding fund-raising (in one of their anns from a while back - don't recall which one though).

Well, FNT might be my diamond amongst the rough today, certainly doesn't look as if any of my other stocks are going to take its lead

Well, the unfortunate thing is - politics are going to be tainting this stock for quite a few years; thus keeping it at a value which might not properly represent current prices, & economic standing

 

[dutchie]

Being a cynic from way back I put forth the following as a scenerio:

Any announcement by FNT may be to encourage the price to rise above 20c so that the FNTO options are worth exercising.

The question FNTO holders should ask themselves is what will the price do after the FNTO exercising period is finished?

Hope I am wrong for all you FNT & FNTO holders.

Cheers

Dutchie

 

[Nyden]

Being a cynic from way back I put forth the following as a scenerio:

Any announcement by FNT may be to encourage the price to rise above 20c so that the FNTO options are worth exercising.

The question FNTO holders should ask themselves is what will the price do after the FNTO exercising period is finished?

Hope I am wrong for all you FNT & FNTO holders.

Cheers

Dutchie

I agree. I don't believe the price will hold much over 20; if at all for too long. There's nothing keeping holders there; that's the problem. Everyone knows, & likes to exploit the fact that FNT usually drops a couple of days after an ann as well - which is obviously very detrimental. Can't really blame folk for that though ; the markets are just awful lately. (Awful, from my perspective that is! I'm sure you day-traders love it )

Edit: So far, the diamond doesn't appear to be so lustrous, a very low carat apparently

 

[Pommiegranite]

Yes, I agree - the CMS looks to be very positive? Don't know why the negative attitude Pommie : I definitely appreciate that it's a lot to raise, but we may yet find partners - and it was mentioned a while ago something of an open-pit gold source which would be used with regards to aiding fund-raising (in one of their anns from a while back - don't recall which one though).

Well, FNT might be my diamond amongst the rough today, certainly doesn't look as if any of my other stocks are going to take its lead

Well, the unfortunate thing is - politics are going to be tainting this stock for quite a few years; thus keeping it at a value which might not properly represent current prices, & economic standing

Crikey...I was only expressing my opinion.

Why do some people get so worked up when a negative view is posted.

It is a public discussion board afterall. Anyways, it seems as though the market has the same viewpoint.

 

[Nyden]

Crikey...I was only expressing my opinion.

Why do some people get so worked up when a negative view is posted.

It is a public discussion board afterall. Anyways, it seems as though the market has the same viewpoint.

Mate, I was joking - as reflected by the :! Of course you can express any view point you want - it's good to hear from both sides! And yes, yours certainly so far has been proven correct - kind of put a rain on my hopeful profit-taking parade of today though

 

[UPKA]

Gold will hit $1000 AUD this week and the market will be charging for explorers ready to produce

hmm just to correct u that FNT is nowhere near ready to produce, its still very much a explorer, and will take at least 3 yrs to start up production... and no one can guarantee the POG then...

 

[kanga2008]

agreed cant guarantee commodity prices-

however IF/sholld pruction start in 2012 they will prudce over $600 million of metal, they have stated payback of cap ex - 800 million in two years, that leaves minimum 8 years of $600 million a year

I would pay 20 million (current market cap) for a few billion over 15 years!!

A lot of ifs and buts, but the discount mkt cap is laughable

 

[UPKA]

agreed cant guarantee commodity prices-

however IF/sholld pruction start in 2012 they will prudce over $600 million of metal, they have stated payback of cap ex - 800 million in two years, that leaves minimum 8 years of $600 million a year

I would pay 20 million (current market cap) for a few billion over 15 years!!

A lot of ifs and buts, but the discount mkt cap is laughable

mind u that the capex would be the barrier, the company prob has $2-3m in cash at bank. it would be extremely difficult to acquire these sort of funding, the company has yet to generate interests from other parties/investors to help to fund the project... so FNT still have a long way to go.

 

[j4mesa]

Hi all

Just a quick one, I just called Peter McNeil on 08 9295 0388 ,reach his PA and she mentioned he at the meeting with senior minister @ Port Moresby.

She did not mention anything but hopefullly it will be good result.
He's back from there late Friday this week.

 

[lienad]

hi, anyone read the tech report and have any views???: thoughts? Be interesting what if anything people make of this.

 

[nioka]

hi, anyone read the tech report and have any views???: thoughts? Be interesting what if anything people make of this.

I'm surprised there hasn't been more postings on this thread following the second Quarter report from FNT. The news released yesterday was the news that was anticipated to come before the options expiry date and had it been available then I guess the options would have had some value. It should see an increase in the SP but with the current market conditions the spec stocks are suffering the most. Maybe FNT is one for the bottom drawer. I will not sell mine as I believe they have upside long term.

 

[lienad]

maybe some positive news this week regarding the meeting with McNeil and the PNG officials, might get a clearer idea on Kodu...wait to see...

 

[j4mesa]

See my latest post in this thread....
I am not sure whether they have got any good results yet...
If they have, Peter would have let us know as he came back from PNG.