LNR - Lanthanein Resources

[Nyden]

I think Kgee hit it on the head. When has any gov ever made any decision in 2 days?

They wont care about FNTs oppies. In fact thy will probably try to hold it up to screw them over as a power play to say "we're the boss".

I still hope it all happens quick, & painless

I'm rather worried to be honest; McNeil's wording has me rather scared - calling the Aus gov bullies...doesn't sound as if he was brimming with optimism. More like the government were applying pressure, I just hope PNG don't give in.

Why couldn't more have been said dammit, stock's already in halt - not like there's going to be insider trading! Surely someone got a feel for the direction the government were leaning towards.

I'm especially surprised that none of this has been announced on the ASX? As far as a lot of traders might be concerned..this might just be the CMS!

A lot of people still may not know that this is potentially incredibly damaging to the SP if it doesn't work out, obviously a refusal of the lease to the exploration would cause huge problems.

I guess I can understand FNT not wanting to panic the market leading up to the options expiry...I wonder if government officials still decide on things over the weekend

 

[kgee]

not just that but the govt can do a lot of "under hand dealings" ie they could get the PNG government to reject FNT's claim and maybe give concessions in other areas to score brownie points
although maybe because its election time I'm ultra cynical
I hold FNT and was hoping somebody might hold my hand and tell me I'm being too cynical

 

[Nyden]

not just that but the govt can do a lot of "under hand dealings" ie they could get the PNG government to reject FNT's claim and maybe give concessions in other areas to score brownie points
although maybe because its election time I'm ultra cynical
I hold FNT and was hoping somebody might hold my hand and tell me I'm being too cynical

Here I was hoping for the same thing :
I really am nervous about the wording, the word bully...

One way or another - is this thing 'locked in' ? If the PNG gov give it the go ahead, does this mean in 3-4 years time AUS can attempt to cause problems again? Or; if it's rejected - will this be it?

They keep using the term 'satisfactory for all parties involved', now surely FNT is a major party here! I'm thinking; worst case scenario - a compromise is made where FNT avoid the area closer to the track. This had better be resolved come Monday. I'm getting rather stressed at it all

Edit:

I'm being rather pessimistic here though! If this works out OK, the price could very well go north ; if the cloud has finally parted from the mine!

And to Prawn, come now - a month seems a little long, even for government officials : Let's face it; the PNG gov made their stance on this situation quite clear long ago; this was just a formal discussion for a hopeful compromise to be made

 

[prawn_86]

Knowing the gov, it wont be resolved and the shares will be removed from listing until the beauracrats decide in say... a months time?

Im sure the gov doesnt care how long the process takes...

 

[kgee]

Hold my hand again prawn and tell me governments of 1/3 rd world countries do things by the book...please...no really...mind you if FNT were worth there salt they would have had this sewn up long ago...mind you the deal of 5% equity with land owners could pass the swinging vote....so cynical of governments its not funny ( I might make that my footer)

 

[birdmanz]

I e-mailed the company yesterday:

Q.
Hello,

Can you please advise if the CMS announcement, along with the PNG gov decision will be out today?


A.
Dear Mr B

The CMS is planned for Monday.

We do not know when the PNG Govt decision will be made, however the Managing Director is working on a release now to inform the market of the discussions that were held yesterday in Port Moresby.

FNT will remain on a trading halt until the CMS is released.

Kind regards
Paige McNeil
Admin Manager
Frontier Resources Ltd

 

[zander]

I have been to the Kalgoorlie Super Pit Look Out.
That look out is only a few meters from the edge of the pit.

So, how does a mine interfere with the track when it comes to 400 meters to the track at it's closest piont ?

Could the reasons for the objections be purely emotive (ie noise and view) ?
(Peter McNeil mentions the noise factor in the June '07 AMEC presentation pg. 28.)

Couldn't be ! Could it ?

COULDN'T BE !!!

 

[Warpspeed]

One possibility is that FNT could leave the shares halted for a while, and notify option holders of an extension in the option expiry date. That would take the heat off.

 

[Nyden]

One possibility is that FNT could leave the shares halted for a while, and notify option holders of an extension in the option expiry date. That would take the heat off.

The options aren't really my concern at the moment, but rather the heads themselves! : If the lease is denied, you can forget about the options

However, if the market takes the CMS positively, and the lease is granted - those options could actually be worth something!

And, I'm sorry but - I'm quite sure they can't extend the expiry date (could be wrong though)

 

[spottygoose]

With the CMS out tomorrow and also the update from Peter re the meeting on Friday we will have a better idea of where we stand. Not long to go now and hopefully the future will be a lot clearer (and brighter) tomorrow.

 

[lazyfish]

Govt, mining company wrangle over Kokoda Track

By PNG correspondent Steve Marshall

Posted Sat Nov 17, 2007 12:29pm AEDT
Updated Sat Nov 17, 2007 12:43pm AEDT
The Owen Stanley Ranges

Frontier Resources currently has an exploration licence near the Kokoda Track (File photo). (AAP: Lloyd Jones)

* Audio: Aust Govt, company at odds over Kokoda mining plan (AM)

Papua New Guinea's Kokoda Track is the site of a new battle. This time, it's a struggle between mining and military heritage.

Brisbane-based company Frontier Resources wants to dig up part of the track to mine gold and copper. But the Australian Government maintains that it is sacred ground for our war veterans.

Frontier Resources currently has an exploration licence near the track and the company's managing director Peter McNeil is fighting for it to be renewed by the PNG Government.

"We currently have a valid exploration licence. We have met all the terms required for it, and I believe that it will be renewed," he said.

Frontier aims to be mining near the southern end of the track by 2012 but Mr McNeil says he feels like the company is being bullied by the Australian Government.

Production will force the track to be diverted for a couple of kilometres, upsetting many in Australia.

The 96-kilometre path is already a designated reserve area, but in PNG that does not count for much.

Consultant Ross Hopkins recently carried out a sustainable development scoping study along the track for the Australian Government.

"That level of protection is not necessarily effective in certain areas," he said.

"There's local communities ... within that reserve area at a small-scale level, and the track itself sometimes changes slightly one way or another.

"So that limited protection does provide some protection, but it's not sufficient in terms of longer-term sustainability."

Plans for world heritage listing

Australia has promised $16 million to help the track gain world heritage listing. That might involve protecting large areas of land on either side of it.

Mr McNeil says that will affect more than just his company.

"It also covers logging, agriculture," he said. "I don't know what level it goes down to, but it could even come down to what the landowners can actually do on their own land."

Trekkers are divided on the potential disruption to the track caused by any mining.

"I'm here because of... what occurred in 1942, what our boys did and I'd be very disappointed just to see the trail suffer for the mining," one said.

Another trekker says people take various routes when they visit the Kokoda track.

"We have maps and people told us where it used to go, like this is where it went to Myola, and this one you used to go through Kagi or not, and we went another way. People just seem to take different tracks," she said.

"Maybe it's a matter of making it a bit of a political football."

The referee that decides this match is the PNG Government: it alone decides who mines where.

It has now heard from all the stakeholders and will make a decision soon as to whether mining or tourism will be the winner.

 

[kgee]

Govt,

It has now heard from all the stakeholders and will make a decision soon as to whether mining or tourism will be the winner.

Surely a compromise can be made...a 2-3 km re-routing of the track isn't going to stop tourism is it?

 

[mobcat]

One possibility is that FNT could leave the shares halted for a while, and notify option holders of an extension in the option expiry date. That would take the heat off.

Stuff that BYR did my head in it was out for a month in july i hated it ...............i need to free up some fold ATM bring it on FNT lets make some money

 

[golfmos123]

10.20 ann
Suspension from quotation pending announcement.

If the ann was the CMS, why would this happen?? Surely they would just release the CMS, trading halt disappears and we all get on with our lives.

Am I being too suspicious here??? Thoughts??

 

[mobcat]

Every hour less of oppies ex my call smart play big Macs use all the tools avaliable buy time etc etc This could be huge this CMS Ann they are sure playing it up ......combo release with a sure up from PNG gov my call happy days indeed

 

[prawn_86]

Knowing the gov, it wont be resolved and the shares will be removed from listing until the beauracrats decide in say... a months time?

Im sure the gov doesnt care how long the process takes...

Well i got the removed from listing bit right...

now lets see if the second half plays out...

I hope for holders sake it doesnt take too long

 

[alankew]

Ann out,havent really read it but headline looks positive,congrats to all holders-not me http://www.asx.com.au/asxpdf/20071119/pdf/315xc2rkbxfhf8.pdf

 

[Kremmen]

Also, this Clarification of Issues Relating to Renewal of EL1348 Kodu:
http://www.asx.com.au/asxpdf/20071119/pdf/315xcdrsvvlv91.pdf

 

[Warpspeed]

Wooo Hooo full steam ahead then.

I guess we shall see what the market thinks about all this tomorrow.

 

[UPKA]

is it me, or the CAPEX seems rather expensive. MGO's project is larger than this, and is only costing them $300m (if i remembered correctly). Kodu's cost is almost twice as much...

I dunno how the SP will react in short term...