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LNR - Lanthanein Resources

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The ABC should be gagged for perpetuating the myth that there is already a mine on the Kokoda Track. There is only a proposed mine at a pre-feasibility stage, all FNT wants is an Exploration Licence extended so that they can expend more money on defining how much copper etc there is at Kodu and nearby to see if it can be developed as a profitable operation. Kev is on the hop because FNT have been astute and addressed all the issues in a scoping study which suggests a re-route of a small section of the "extremely sacred" political football that is the Kokoda track, even though this is not the original location of the track nor were there any significant battles on the area of proposed re-routing. Maybe KRUDD could offer compensation to FNT shareholders for giving them a good shafting after they put up the biccies to spend money on defining a world class ore body in this poorly serviced part of the world. All power to the landowners, lets hope they get what they want. If you hold FNT and the licence gets renewed then you can tell Kev where to put his protection proposal. If the licence does not get renewed soon then holders should lobby the KRUDD office to re-consider their ill thought out self serving views.
 
This is very encouraging. When I heard Kevin Rudd talk about stopping land clearing and other associated land clearing I had an awful feeling that he was looking to try and tie up the areas that also include the proposed mine site.
 
kanga2008 said:
I would say a compromise, I mean Rudd backflip

Think this will be one of the few greens in a sea of red today

http://www.news.com.au/couriermail/story/0,23739,23331550-953,00.html
Click to expand...
Don't be too sure. As I read the news on SBS and ABC I got the impression he was going to offer compensation to the land holders and give the PNG Govt "carbon credit" money for them to maintain the trail and forests. The mining approval is not a fact yet.
Looking at the charts, FNT has never peaked like yesterdays peak without being followed by a sharp fall as profit takers move in.
 
If the Australian governments handling of world heritage areas is anything to go on, maybe there is hope yet. In Tasmania, both mining and forestry operations exist very close to world heritage areas. The "Henty Gold Mine", where i have worked as a diamond driller, was only allowed to open following very strict environmental guidelines. Forestry operations here in Tasmania log virtually to the boundaries of world heritage areas.
So this should be fine in PNG too? My faith in politics is at an all time low, however, i am hoping that common sense will prevail. And the government of PNG will decide in the best interests of its people, to move this project forward.
 
I agree. I am in favour of the mine but then I am also not against whaling. Sometimes the anti movements have a lot of political success. I think the mine will go ahead but there is still risk with FNT.
 
I also think that on the balance of probablilties mine will go ahead. PNG people basically want it and its their country after all. Worth a punt IMO
 
Landowner concerns and issues need to be considered here and knowing the PNG government well, it would be hard to ignore landowner concerns for progress and development in the area. The area is like rest of the country (PNG) where the government of PNG has failed to provide for basic and essential services (health, education, roads, etc). It is only the development of mineral resource that has provided for a lot of people in most parts of PNG. Look at the likes of people in Ok Tedi, Lihir, Bougainville, Porgera, Kutubu, Gobe, etc, etc. These areas are some of the most remotest part of the world and the inhabitants of these areas have been able to have access to the outside world because of resource development. It is not because of the government provided services but by resource companies (and by far the largest contribution has been made by the churches).

Having said this, the foreign companies have also ripped off these simple villagers.

A lot of Australian including Kevin Rudd have tracked the Kokoda track and they know the conditions that the villagers along the track live life - very simple with no access to the outside world.

Knowing the flight of the villagers, I would say that the mine will go ahead regardless. If it does not, it will be another Bougainville, yet the mine has not started. Of course this time around a more cautious approach will be taken wrt to all the issues (enviro, socio-economic development, etc, etc.
 
Chances increasing of approva!!

From local png paper -

Mr Rudd stressed the officials will look at various aspects of the issue which includes the interests of the landowners.
“They are important to the equation than anybody else,” Mr Rudd said.
Sir Michael said they have to sit down and work out how they could have Kokoda listed on the World Heritage Listing, and still develop part of the area.

http://www.thenational.com.pg/030708/nation1.htm


Transcript of press conference yesterday

JOURNALIST: Prime Minister Kevin Rudd welcome to Papua New Guinea. My name is (Inaudible) from the Australian Broadcasting corporation. What is Australia’s Governments Stance, your Governments stance on the Kokoda track. (Inaudible)

PM: Well I think all Australians have a great emotional and historical attachment to the Kokoda track. So many young Australian men in uniform came here fought and died in defence of our country and our way of life during that great conflict.

When you look at the challenges today they go to conflicting land use needs, they go to how is this area best protected for the future, for our common aspirations, for world heritage protection.
But above all, this is a sovereign state of Papua New Guinea and this sovereign state of Papua New Guinea will be making it’s own decisions about the future. What the Prime Minister and I did today was discuss this at length and there will be further discussions between our officials between and now and the ministerial forum for Foreign ministers which occurs in April and will be held in Medang.

http://www.australia.to/story/0,25197,23040466-823,00,00.html
 
PNG NEWS today:

"The two leaders also discussed the Kokoda Track, with Rudd apparently softening his stance on mining near the track.

He said PNG was a sovereign state and would make its own decision about the future.

Rudd added that further discussions would be held between officials from the two countries between now and the ministerial forum in April.

The Australian PM said historians were debating the actual route of the track, and he confirmed that officials from both countries would resolve the issue in a way which "respects fully the interest of local villagers as well as delivering a good outcome for the best protection of this major historical and natural asset which is the Kokoda Track"."
 

This is a sensible approach for all stake-holders.
At the risk of digressing from the topic, this is why I believe on an international basis we are in far better hands with Rudd and his team, than the previous (Howard) beligerant pacific attitude!(Hope he stays over in the states with his conservative mates).
 

Hear hear! Can't believe they even bother putting Howard on the news - some conservative blah blah and him bagging out Rudd, as if we didn't get enough of that last year!

On the FNT front, it seems much more likely that the mine will get the go ahead and we will see a serious re-rating of the SP given that their current MC is what $16m?
 
Ministers from both (PNG & AUS) are meeting in April in PNG. One of the main topics of discussions will be reaching concensus on developing the mine, ie balanced approached. However the EL is 50% chance of been approved/renewed most likely before this meeting, if not shortly after and it won't go beyond July 2008 (June is the end of reporting year and the new PNG Statutory Authority charged with issuance of ELs and would want done before the new FY).
 
No Mining.

Mining in and around the Kokoda track has been officially vetoed by the PNG Gov't due to the significant environmental impacts. No mining will be allowed and landholders have re-opend the track for tourists.
 
sos said:
No Mining.

Mining in and around the Kokoda track has been officially vetoed by the PNG Gov't due to the significant environmental impacts. No mining will be allowed and landholders have re-opend the track for tourists.
Click to expand...

Can you please validate the source for this sos? Seems a tad dramatic. Especially the part about the environmental impact. Thanks.
 
So do you think we will see a huge sell off tomorrow?
This decision has me suspicious. So I wonder if a quite word was had with the PNG PM. The Australian Government provides over 100 million in aid each year and could they have possibly offered a sweetner to not renew the mining license.
When you think of the 100 million the landowners were to get, the compensation will need to be major.

Should frontier give up. Governments come & go?
 
I followed my post above and sold for 16.5c on Friday. I then put in buy orders for 12c, 12.5c and 13c. which I have now cancelled. When the dust settles I will still get back into FNT as I do think they will eventually win and mine. The news today is not good. DYOR.
 
Gosh, indicative price of 10c ... this one's in for a plunge this morning Glad I sold out months ago at much higher prices
 
You would think/hope thatthe company would have a release this morning for investors, as I'm sure there are many quesions as to whether they will walk away or fight this!?
 
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