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LNR - Lanthanein Resources

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PNG News (thanks Jemster):

Kokoda Track to be rerouted

By FRANK ASAELI
PART of the Kokoda Track will have to be rerouted when landowners begin mining the Kodu hill and surrounding areas on Mount Bini at Koiari in Central province.
They told an exploration company, Frontier Resources, that they would close down the section of the track if the authorities try to stop them.

Frontier Resources managing director Peter McNeil said about 10% of the track passed through the area and the landowners maintain it was their right to improve the lives of the people through mining.

Mining Vice-Minister Ano Pala and Central Governor Alphonse Moroi have given assurance that the Government understood the landowners’ aspirations and would not stop their plans. “This track does not serve the people of Koiari and does not serve the interest of the province and Papua New Guinea for that matter,” Mr Moroi said. “Our people have been disadvantage for many years because of the track. “It serves the interests of tour operators and other people who have interests on this track.”

Mr Moroi had earlier accompanied Mr Pala and the ministry’s first secretary, Veari Maha, to Kodu. He said the Government would support Frontier exploration’s application to renew the exploration licence and other applications. Mr Pala said the ministry also wanted the exploration work to be fast-tracked.

He was told by Frontier Resources that mining was targeted to start by 2015 but if its applications were processed faster, it could begin earlier. “The possible future development of Kodu is an issue for the sovereign nation of Papua New Guinea to determine with all stakeholders’ legal rights, commercial aspirations and moral outcomes or desires taken into consideration,” Mr McNeil said. “Frontier’s exploration has not and will not damage the Kokoda Track in any way. However, it is yet to be determined what impact mining of the huge deposit could have, which is likely to be less than 3%.”

The Kodu deposit is located about 400m east of the 96km-long Kokoda Track at its closest point.
 
The quarterly activities are nothing new but it is pretty amazing how many results/programs have been reported/completed this quarter. Hats off to the busy png explorers.
 

Unless your are in CVI and get 4c options possibly opening at 20c+...................at least my 1.8 million FNTO will pay for my 230,000 CVIO In the latest offering of 1/5...................although, when dealing with people of the calibre of the McNeils, expect the unexpected
 
McNeil has planned it well with the release of so much news to coincide with the expiry of the options. Whether or not he gets the share price over the line is yet to be seen. Even if he doesn't, it wont be for lack of trying and there are many other companies that could take a leaf out of his book. I still hold some opies and will give him the benefit of the doubt for the moment.

That said, it is no certainty to get the price over the line and I expect he is busy with Plan B in the background which may be to find an underwriter for the opies in case the SP gets close, but not quite there. If he can get the SP to 19 or 20c that may be enough for someone to underwrite. That wont help those holding opies, but that's the risk you take.

At least he is out there putting in the hards yards and if you are going to take some risk, it may as well be with someone who will give it every chance.
 

Well said Dubiousinfo ..... I entirely agree with your comments about the McNeils and FNT. We can be sure that every effort will be made to look after share and option holders. I only hold shares myself but you really are made to feel a part of the FNT family with the McNeils at the helm
 
Yes, but - I think the market needs quality over quantity. We can have a thousand announcements, & the market may hardly budge.

We need something unexpected, an ace up the sleeve; I hope he's got one
 
the problem with informing the market of all upcoming announcements is that it gives holders and day traders an exact timeline of when to SELL

the element of surprise is gone and i think this is why the sp has been dangling around the 16c mark as opposed to the 18c mark for most of last week

alot of buyers have left since they know theres only 1 or 2 announcements to come and most of the sellers have already sold knowing that the most exciting part is behind them

i'm holding the heads and will continue to hold
 
Anyone hear Peter McNeill on AM this morning? He's now saying that part of the Kokoda Track might need to have a "diversion" - but that this has been done before and that no significant battles took place in the bit concerned.

Of course the local tour operator they interviewed disagreed. And the Australian government is now pushing for heritage listing.

Also mentioned the agreement with the local landowners.

Looking messy to me, I'm not holding out much hope for my options!

Hope they can sort it out long-term though...

Maz
 
Mr Rudd has weighed in on the issue:

OPPOSITION Leader Kevin Rudd will contact Papua New Guinea Prime Minister Michael Somare to express his concern at reported plans to divert a section of the Kokoda Track for a copper mine.

Australian mining company Frontier Resources has reportedly said a part of the track would have to be re-routed by the time its copper mine hits full-scale production in several years time.

Frontier Resources, which has the backing of the PNG Government and landowners for the project to go ahead, says the area it plans to mine is about one per cent of the 96-kilometre track and holds no significant historic value.

But some historians and trekking operators disagree.

"If the report is accurate, the plan stinks, it absolutely stinks," Mr Rudd said.

"I've made arrangements with my office to get in contact with Michael Somare, the Prime Minister of PNG, and we will talk it through."

Mr Rudd said the Kokoda Track, which he has walked, was "part and parcel of the Australian soul".
"If any of you have walked the track, been up there and seen the sacrifice of all those Australians, who pushed back the Japanese invasion which was heading towards Australia, we should honour them by preserving the track as it is."
 
Mr Rudd once walked the track, presumably he has now decided the people who own it owe him something for his tourism patronage and can now determine the future use of their land.
 
If that fool is going to play the "diggers" card, I wonder; what would they themselves want? Propserity for many of the people of the region, or a tourist hole for Australians trying to 'connect' with nature, & history?

Heck, that isn't even the issue. It's 1%! The Australian government has no say in this; when will we find out if it's "locked in" more or less? I just want this rubbish behind us.
 

This is crazy but politics is a numbers game and what better way to stack up the numbers than to defend the Kokoda trail. Dirty, dirty politics. What do Rudd and Howard care about the Kodu landowners.

Lots of press coverage on this story today. Could well be fatal for this latest share price push. There is likely to be substantial political willpower exerted over this in Australia. The question is will PNG stand up for itself?

Remember the furore over Gallipoli and the proposal by the Turkish government to widen the roads leading in to Anzac cove. The Turks paid no heed to the political posturing over here. But Turkey is a stronger proposition than PNG.

Personally I have held a parcel of FNT for awhile now. Putting my self interest aside, I would support the mine as it is ridiculous for Australia to try and protect a 94km stretch of land in PNG in the interest of nationhood. Protect the key battle sites and cemeteries by all means and protect the integrity of the 'track'. I think a small diversion to allow a mine half a km from the track would definitely not detract from the integrity of a jungle track.

Interesting issue this. Colonialism is still alive and well when it comes to our nearest neighbour.
 
Sorry for the rant but one more thing sprang to mind about this. Libs just approved Woodside's Pluto LNG plant in the Burrup Peninsula in WA. To quote a recent Get Up campaign about the cultural heritage value of the site:

'Imagine the oldest and largest art gallery in the world. A collection of a million rock carvings just off the North-West Shelf of Australia - some six times the age of the Pyramids, including images of the now-extinct Tasmanian Tiger and perhaps the world’s earliest engravings of a human face.'

Yet this was strangely ignored by Today Tonight.

One rule for 'our' cultural heritage, another for 'their' cultural heritage.
 
Why couldn't it be a case of 'all publicity is good publicity' !
Well, maybe we'll get a new lot of 'gamblers' coming on board, looking to defy the government

Gosh, options are at half a cent again.


Hypothetically; let's say the Aus gov manage to influence this...

Would it be that great a catastrophe? I mean, surely they'd be allowed to dig in the rest of Kodu? How much of their resource would they lose? I keep hearing 1% this, & 1% that... Just how much of the mine is sitting in this 'sacred' land?

What I think will really save the SP right now, is some non Koduo-related news...Kodu is tainted by the media right now, give us an update on something else!
 
zander said:
FNT up in Frankfurt (Price 0.124; Change 0.026; Change % 26.531)

And is this the rabbit they would have to pull out of the hat:

http://www.bloomberg.com/apps/news?pid=conews&tkr=tg5:gr
Click to expand...

Thanks Zander ..... that does make interesting reading. The thought of a chinese company/s investing in Frontier would certainly give the SP a boost i think. Even though there was no definite news in the article there is obviously things happening behind the scenes. Peter McNeil may just have his hands on that rabbit in his hat! FNT up by 26% in Frankfurt is certainly a good sign and will be interesting to see what happens on Monday on the ASX.
 
That article is dated 15 of Feb 2007 though

But that rise overseas is interesting

Hopefully all this political stuff can be sorted post elections and we get some decent drilling results
 
Even though the news is a bit stale, it is very interesting for those of us who hold FNT.

Anyone have any clues on how info might be obtained regarding which companies are mining / exploring for Gold and Copper in Papua New Guinea.

The Chinese would no doubt be privvy to that info.

Thanks for the posting
 
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