LNR - Lanthanein Resources

[Pommiegranite]

According to this report....its not FNT that Newcrest want.

I reckon it would have been to early for us FNT holders to get full benefit from a takeover.

 

[mick2006]

interesting to see that the seller took a little while to come in with the sell order and it wasn't as big this time below 500k if only just. Maybe we might just be close to seeing the end of the sell down, capping or whatever the hell is going on.

Like I said before even if it turns out not to be FNT in Newcrests sights, take comfort that they are asking for data sets on the PNG projects, on top of the perceived Chinese interest in the Pacific Region including PNG(from Bloomberg Report).

As a few members have been saying perhaps it is too early for FNT to seek JV's as they don't know exactly what they have yet themselves. And they certainly will be able to present a stronger case when the time comes if they have 500mt + in the resource bank.

I get the feeling that Peter and FNT are not pursuing JV's etc but have been approached from several fronts and are deflecting the interest untill they know more about the projects ( that is my opinion anyway)

Would be interested to hear what the holders think?

Is it too early for a JV or sale of any of the projects?

Should FNT be pursuing their options in regard to ownership of there projects?

 

[surfingman]

I believe that after a resource estimate is established the company could be in a great position to sell a property off if the price is high enough.

FNT said a JV is not is their best interest at present and they are going to put together a data set to send to Newcrest wouldn't this mean purchasing either land or a share of FNT?

 

[Ken]

I think at present we are getting into FNT at rock bottom prices, for the fact that they are just at the beginning.

In my eyes, FNT is at the start of the rainbow.

If you were to draw a timeline for FNT, it begins now.

 

[henry vanderhave]

looks like fiji is the target for ncm.thats the way the cookie has crumbled.man.pmo----still holding and will continue

 

[Pommiegranite]

I believe that after a resource estimate is established the company could be in a great position to sell a property off if the price is high enough.

FNT said a JV is not is their best interest at present and they are going to put together a data set to send to Newcrest wouldn't this mean purchasing either land or a share of FNT?

Regarding FNT's position on JVs, I quote an email from Peter McNeil which I received on Monday:

"We are seeking JV partners, but not rushing to accept any. In many ways it is the reverse of their normal ‘tyre kicking’. This policy is the same as it has been since listing. We have a large tenement portfolio and once the ELAs are finally granted in PNG (very soon I hope now) it may be ultimately fiscally too much for us. We are however planning on keeping what we feel has the best potential to move Frontier forward for short and longer term potential."

 

[Mousie]

looks like fiji is the target for ncm.thats the way the cookie has crumbled.man.pmo----still holding and will continue

LOL henry, bit off topic here but when I first saw your avatar I almost mistook you for snake - he's another ASF member. Was very surprised he'd be interested in small caps like FNT! LOL

 

[PBH]

Just wondering if you have received word of any of your substantial Top 20 shareholders selling down their holdings. There has been some strange activity in the last couple of days regarding large 500,000 plus sell orders being filled and then immediately being replaced. It has happened 3-4 tmes in the last couple of days and as their is only 17 people with holdings of 1 million or over, I was just wondering whether anyone has handed in a change of substantial holdings notice.

I'm guessing some of the big boys have managed to obtain a few details of the upcoming Inferred Resource report, and didn't particularly like what they saw.

Sadly (for us small guys) this kind of thing happens quite frequently and there isn't a hell of a lot the ASX can do about it.

Fingers crossed I'm wrong of course.....

 

[dj_420]

I'm guessing some of the big boys have managed to obtain a few details of the upcoming Inferred Resource report, and didn't particularly like what they saw.

Sadly (for us small guys) this kind of thing happens quite frequently and there isn't a hell of a lot the ASX can do about it.

Fingers crossed I'm wrong of course.....

what you are eluding to is insider trading, and although it does happen if news had leaked and was not good there would be a lot more downside pressure than there currently is.

 

[mick2006]

I'm guessing some of the big boys have managed to obtain a few details of the upcoming Inferred Resource report, and didn't particularly like what they saw.

Sadly (for us small guys) this kind of thing happens quite frequently and there isn't a hell of a lot the ASX can do about it.

Fingers crossed I'm wrong of course.....

Hi PBH,

From all the dealings I have had with Peter he seems very confident that the resource upgrade will be substantial to the point the market will have to sit up and take notice.

So it doesn't seem to fit in with a major holder selling down, and when I quized him he stated that no major holder was selling down, do to the lack of a change of substantial holding notice.

As we fast approach a long weekend our little battler FNT has coped very well in the face of a world wide selloff, and if it wasn't for the constant replacement of large sell orders at 13c would probably be a little higher heading into the weekend.

We now can turn our focus to the upcoming Kodu drilling results due early next week, with Monday a public holiday the news should be out either tuesday or wednesday.

It should give us a better indication of the magnitude of the upcoming resource upgrade.

 

[rico01]

I'm guessing some of the big boys have managed to obtain a few details of the upcoming Inferred Resource report, and didn't particularly like what they saw.

Sadly (for us small guys) this kind of thing happens quite frequently and there isn't a hell of a lot the ASX can do about it.

Fingers crossed I'm wrong of course.....

ACCording to last years annual report the only people with a holding large enough to hold the price down like they have is ANZ ltd with 16 million shares whether that has changed now. However sice the entitlements issue there is bellpotter and clients with 25 mill,& 2 parcels of 4 mill that were allotted on the 20th and 23th of may to take up some of the shortfall so only time will tell how many more shares they have to unload on us.

 

[deftfear]

I think we should all stop stressing so much about the short term capping, if it is even capping. FNT has been ranging in a tight range of late, and someone could quite easily make some money by buying at 12.5 and selling at 13 cents. This strategy could make over $2k by doing this, not bad for a couple of hours/ days work. There is a couple of weeks to go to get some more drilling results, till then everyone should sit tight.

 

[Pommiegranite]

Its downside is 12c 11.5c at most



$13m Mkt Cap vs $500m+ NPV don't add up


Some more info about the other projects from FNT's web site see http://www.frontierresources.com.au/


Mt Likuruanga

The Bukuam Prospect is located in a 5.5km long x 1km wide copper in stream sediment anomaly located adjacent to the eastern margin of the Esis-Sai intrusive granitoid complex. The prospect contains significant exploration potential that is now being assessed.
Recent soil sampling by Frontier has defined major gold and copper anomalies (+ jarosite alteration) to the north and east of trenches containing high surface gold values in silicate-sulphide skarns.

Limited trenching almost 20 years ago returned 205m (non contiguous channel chips) of 1.9 g/t gold (incl. 55m of 5.8 g/t gold, incl. 5m of 13.1 g/t gold), 10m of 5.1 g/t gold and 70m of 1.7 g/t gold in different zones. In addition, grab and float samples in a separate area assay to 6.55 g/t gold + 230 g/t silver and remain to be evaluated.

Only 3 holes were drilled with results such as 6m of 2.2 g/t gold + 9.5 g/t silver + 1.2% zinc, 2m of 3.5 g/t gold + 9.5 g/t silver and 10m of 1.7 g/t gold + 2.7 g/t silver + 4.8% zinc (the 205m interval remains untested by drilling).

According to the Rio Tintogeologists who drilled it, “the gold grade in the skarn could increase towards the shear zone with a possible bonanza at the contact”.

The Esis porphyry copper deposit is situated on a NNW trending ridgeline, on the western flanks of the ~20km long x 6km wide Esis-Sai granitoid complex (opposite side to Bukuam). Mineralisation is in quartz-diorite and magnetite breccias. A resource has not been estimated, but a realistic exploration target is 150 to 300M tonnes grading 0.6% to 1.0% copper equivalent or better, from surface.

The mineralised zone is >1,300m long and ~700m wide, with a weighted copper average of 0.18% (and possibly leached, therefore with lower copper values near surface). A body 1,000m long and 100 to 150m wide was noted by BHP grading ~0.4% copper from 15 very shallow drill holes (average depth of 25m) and hand trenches. The holes were averaged over their entire length and included 21.6m of 0.50% copper and 30.3m of 0.41%, at opposite ends of the ridge, leaving the mineralized zone open to the north and south. One of the best results from the costeans was 90m of 0.40% copper with 20ppm molybdenum, within a magnetite breccia.

Four diamond holes (~152.6m each) were drilled to test the supergene, with best results of 152.6m grading 0.39% copper + 24ppm molybdenum and 152.4m of 0.28% copper + 12ppm molybdenum, with highest grades of 1.62% copper and 124 ppm molybdenum.

This target obviously requires significantly more exploration to evaluate its ultimate potential.


A priority exploration target is an undrilled gold zone in soil at the Pele Prospect, located ~750m north of the northern end of Esis.


Sudest
The approximately 469km² ELA covers the first known hard rock gold mine in PNG, is proximal to the now closed, but highly successful >4Moz Misima Deposit / Mine,

Less than 10% of the gold in stream geochemistry strike length has even been cursorily evaluated by soil geochemistry or trenching, yet contains results to 151.2 g/t gold in outcrop, 2m of 104.5 g/t gold in trench, 260.0 g/t gold in float rock, 2,540 ppb gold in BLEG, 1.49 g/t gold in stream sediment and 387.0 g/t gold in pan-concentrate. Variably altered intrusive suites (similar to mineralised porphyry systems) and high-grade mesothermal veins offer attractive targets.



Basilaki

soil sampling (to 1.25 g/t gold), whacker ‘bedrock sampling' (to 21.0 g/t gold), rock chip (to 28.1 g/t gold in outcrop) and channel sampling (to 1.75 metres of 17.8 g/t gold plus 0.9% copper).



East New Britain
The ELA covers about 2,055km² and limited bulldozer trenching at Doilene Prospect included 10.9m of 26.9 g/t gold (incl. 40cm of 136.4 g/t gold and 1.0m of 147.8 g/t gold), 2m of 16.9 g/t gold, 4m of 9.84 g/t gold, 3.5m of 5.14 g/t gold and 3m of 4.65 g/t gold. These trench anomalies have never been drilled. Visible gold and anomalous pan concentrate gold values are noted associated with an altered intrusive dyke and previous soil sampling was relatively limited. Scout drill testing is warranted.

A toxic element anomaly at Mali was defined over an 80 km² area associated with the Sikut caldera. The LK1 Breccia Prospect returned outcrop sampling up to 2.5m of 9.6 g/t gold with grab samples to 17.8 g/t gold. The Palang Hill Prospect is a 500m by 100m brecciated and veined zone with trenches to 12m of 2.64 g/t gold in the central part of the prospect and 15m of 2.13 g/t gold in the northern section of the area. A 2.5 m channel returned 9.66 g/t gold + 0.20% copper + 12 g/t silver. Alluvial platinoids (Pt, Pd) and gold occur in two adjacent tributaries [pan concentrates to 29.44 g/t gold (385ug), 22.7 g/t Pt (282ug) and 0.45 g/t Pd (5.5ug)] and there has been no follow-up in the 3 km² target area.



Central New Britain
The Uasilau / Yau Yau porphyry copper molybdenum Prospect is an elongate ~9,000 x 2,500m zone of anomalous copper in region with variable ash cover and gold anomalism. There is a large associated area of advanced argillic alteration possibly representing unevaluated epithermal gold mineralisation potential. Gold analyses are limited, but where they exist, significant anomalous areas in soils and rock chips warrant follow up, in addition to the porphyry copper potential.

Located ~14km south of Uasilau, the Pelepuna Prospect is a zinc +/- gold skarn and un-drilled porphyry. Neither Uasilau nor Pelepuna have had ANY exploration conducted for about 25 years



AWARI

Miocene intrusive related porphyry copper-gold systems (approximately 101 km² ELA) at Awari are thought to be prospective for intrusive related [Porgera type(25Moz)] high-grade gold and bulk mineable deposits.

Five prospects were defined by using pan concentrates to 3,408 ug gold and BLEGs to 113 ppb gold, but only 1 has been followed up. Soils assayed up to 569 g/t gold, rocks to 7,100 g/t gold, channel chips to 7.75m of 15.7 g/t gold and from limited drilling, intercepts to 7.8m of 15.7 g/t gold.

The project has untested exploration potential requiring evaluation.



LEONARD SCHULTZ

This approximatly 1,186km² ELA is located on the northern edge of the central cordillera of PNG, straddling the Leonard Schultz Thrust Zone, proximal to the Frieda River porphyry copper and epithermal Prospects (>9M oz gold + 3 Mt copper) and covers a diverse suite of copper +/- gold rich intrusives, ultramafics and metamorphics.

The undrilled Kru Prospect is defined by gold in soils (to 51.1 g/t gold) over about 2,500 x up to 500m. Limited trenching include results include up to 5m of 12.33 g/t gold , 20m of 3.52 g/t gold, 15m of 3.70 g/t gold and 20m of 2.4 g/t gold.

Lateritic nickel has been documented in 2 auger holes located about 2km apart. Only 6 auger holes were drilled in the region in total and included 10.3m of 1.28% Ni and 9.6m of 1.30% Ni + 0.13%Co.



BULAGO

The Bulago ELA is about 365 km² contains very high gold grades associated with intrusives in narrow to moderate width structures.

Rock samples include: 197 g/t gold +363 g/t silver, 142 g/t gold + 108 g/t silver, 73 g/t gold, 108 g/t gold, 145 g/t gold . Outcrop samples include : 15m of 57.4 g/t gold, 6m of 72.2 g/t gold, 0.85m of 754 g/t gold, 2m of 188 g/t gold (re-assay of 220 g/t gold), 1.4m of 55 g/t gold +34 g/t silver.



JIMI VALLEY

The ELA has more than 18 named prospects. At Mul Mul, surface geochemical anomalies were never closed off and are 850m and 200m long respectively. Trenching revealed 16m of 0.8 g/t gold + 70 g/t silver + 2.5% copper + 2.2% lead + 6.4% zinc and 8m of 0.9 g/t gold + 126 g/t silver + 3.7% copper + 6.3% zinc. A soil sample near another trench with 6% copper + 16% zinc + 7 g/t silver ran 2.3 g/t gold.

Channel sampling of 5m of 13.2 g/t gold at Kolum-Togo Prospect with float samples to 2.9% copper. Several 2 to 5m zones at Weitah Ridge assay up to 7.3 g/t gold. Channel sampling resulted in 17m of 1.2 g/t gold. Mineralised brecciated rock with a clay matrix occurs in fault zones with rock chips assay to 0.5% zinc, 0.1% copper and 2 -3 oz silver/tonne at Kanska. The prospect has not been tested for gold. Shear hosted pyrite veins assay up to 3m of 2.7 g/t gold, and 20m of 2.4 g/t gold at Lower Rioron.


And they have more projects in Tasmania!!!!!!!!!!

Does anyone know as to when these licenses lapse?

I can't seem to find this info on the FNT website.

Thanks

 

[petervan]

Are these the same McNeil,s that are involved with Macmin.If they are it would be interesting to see how long between discovery and mine up and running.

 

[Pommiegranite]

Are these the same McNeil,s that are involved with Macmin.If they are it would be interesting to see how long between discovery and mine up and running.

Yes it is the same Bob McNeil. Why? Have you got any dirt on him?

http://investing.businessweek.com/b...CapId=4484215&previousTitle=Macmin Silver Ltd.

 

[petervan]

Haven,t got any dirt but just seemed to take forever to get macmin up and running.I am still not sure if there got silver coming out the ground now ,but this goes back 10 years ago.

 

[mick2006]

you have to remember the main driving force behind FNT is not when they are going to mine anything out of the ground, it is defining exactly what they are sitting on. It will be at least 2011 before they can get such a large tonnage mining operation up and running.

There will be alot of money to be made holding FNT shares based on the newsflow regarding drilling and resource upgrades, not just waiting around for them to start digging copper out of the ground.

The McNeils have a very good record in finding and defining large resource bases. I remember reading that they were responsible for some huge Gold deposits in WA (will try and track down the details).

What you will find is that FNT will spend the next couple of years defining exactly what they are sitting on and then decide what is in the best interests of the company going forward (eg. selling off individual projects, JV's, or development by FNT).

The most important thing to remember is the resource drilling is the shareprice driver not the timeframe till mining. The shareprice will move with the drill results and how GOOD/BAD they are!!!

 

[mick2006]

the following is taken from the Frontier website


Peter A. McNeil – Managing Director

Mr Peter McNeil, B.Sc. (1982) and M.Sc. (Geochemistry-1985) - University of Houston, has over 24 years professional corporate, managerial and exploration industry experience in Papua New Guinea, Australia, U.S.A. and Canada. He is a member of the Australian Institute of Geoscientists, the Society of Economic Geologists, the Society for Geology Applied to Mineral Deposits, the Society of Resource Geology and the Australian Institute of Company Directors.

Mr McNeil has extensive exploration and program management experience in Papua New Guinea (including the Lihir gold deposit), Tasmania and has worked in Western Australia's NE Goldfields where he was consultant site geologist on the ‘discovery' holes of both the Nimary (Eagle Mining) and Sunrise Dam (Delta Gold) gold ore bodies, that became the largest and second largest pure gold discoveries in Australia during the 1990's

 

[Pommiegranite]

Mick,

I'm trying to get an idea of the capex involved in contructing a mine at Kodu. I'm aware that a lot of the resource is close to ground level, but are we talking 1 billion AUD, like the numbers being put forward on the MGO thread.

MGO have an estimated 600 million tonne + CU resource and its still up in the air whether a mine would be feasible even at this resource size.

With Kodu having anywhere between 100-200 million tonnes, as you can see the capex will be crucial in determining as to whether FNT can attract investors.

I'm aware that FNT have other projects, but this is irrelevent as each would require its own mine.

Please put me straight

 

[Ruprect]

I think that we dont know how much it will cost to develop a mine. The money that is being talked about on MGO thread is just speculation. We dont know what it will cost until they do the study.

The real question is whether there will be a long term demand for copper/gold/moly etc, and i think the answer there has to be yes.

Its quite probable that FNT will define a greater resource, and that will then prove attractive for a takeover/JV.

The chinese will certainly be interested in major resources where they can secure a long term supply. MGO and FNT both fit this category.

I think we are getting slightly ahead of the game to be looking at mine development. The value in FNT and MGO in the immediate future lies in the resource. With the market cap of both of them so low, its hard not to see a good buying opportunity.