LNR - Lanthanein Resources

[nioka]

FNT are to make a share offer of $5000 worth of shares at 8.5c per share to holders at the record date of April 14th.

 

[jeffTH]

FNT are to make a share offer of $5000 worth of shares at 8.5c per share to holders at the record date of April 14th.

Very interesting! Why the hurry? Being a little cynical it appears that FNT may wish to have the share purchase out of the way prior to any bad news on Kodu in which case SP may drop significantly.

40,074,565 max shares provides $3.4M and requires only about one third of shareholders to take up the offer if all went for $5K worth. Why the upper limit of $5k, why don't they go for what you can get?

Author holds stock and will be watching....

 

[questionall_42]

Can anyone explain why all trades in FNT are going through as quantities of ~4000 shares? I cannot understand why each parcel is this miniscule size? SP has risen though since the SPP announcement last week.

Thanks.

 

[rico01]

They announced a couple of days ago a share p, urchase plan whereas if you have a parcel of shares, no matter how small, you are entitled to buy $5000 worth at 8.5c. somepeople might be buying in multiple accounts trying to get an extra allowance. Though this is not really allowed.

 

[questionall_42]

They announced a couple of days ago a share p, urchase plan whereas if you have a parcel of shares, no matter how small, you are entitled to buy $5000 worth at 8.5c. somepeople might be buying in multiple accounts trying to get an extra allowance. Though this is not really allowed.

I thought about that, but the parcels are only about $500 worth. And adding in the transactional costs, the risk implicit in holding til the listing of the shares... it just doesn't add up in my head.

 

[jeffTH]

The $500 worth probably equates to a marketable parcel and small purchase quantities are just to get on the register to qualify. I purchased 20k at 11.5c a short while ago and sold 15k at 12 leaving me 5k and enough money now to buy in at 8.5c with a little extra cash and end up saving about $450.

However with an upper limit of $5k you can only buy about 58k shares. The important aspect IMO is that buying and selling on the ASX does nothing for the funds of the company whereas a SPP means that the company will benefit totally!

 

[nioka]

Well it looks as though FNT is a lame duck. The PNG Government has decided not to allow the mining lease to be granted and has come down in favour of the Kokoda track being completely preserved.

 

[doogie_goes_off]

If the duck hasn't quacked yet, how do you know that it is not going to lay a golden egg? Could there be a compensation case?

 

[quarky]

However with an upper limit of $5k you can only buy about 58k shares. The important aspect IMO is that buying and selling on the ASX does nothing for the funds of the company whereas a SPP means that the company will benefit totally!

i'm thinking of buying $5k worth in this SPP (via BPAY), but i was wondering how would i sell them in a years' time??

(i use Westpac for my brokering & never been into a SPP before)

don't know if this is the right place to ask...

it's just that i bought a heap of FNT shares at $0.185 a while back.
this stock has disappointed me, much like the Aust. govt. in preserving the symbolism of a wartime track.

 

[questionall_42]

i'm thinking of buying $5k worth in this SPP (via BPAY), but i was wondering how would i sell them in a years' time??

(i use Westpac for my brokering & never been into a SPP before)

don't know if this is the right place to ask...

After you buy the shares through Bpay as part of the share purchase plan, you will be issued with them in your trading account and then you can sell them the next day, in one years time or whenever you want. Nothing special about shares received in a SPP - you can trade like them like any other share.

But the question remains, is it still worthwhile to purchase $5K of FNT shares @ 8.5c?

 

[quarky]

But the question remains, is it still worthwhile to purchase $5K of FNT shares @ 8.5c?

thanks for your answer.

also, FNT has been at that support price of $0.08 for so long.
although PNG govt. is reluctant in upsetting Aust. government over symbolism of Kokoda track (even though it's not the original and the land-owners there really want FNT to mine), the Kodu project might be allowed to proceed but in a reduced capacity.

anywho,..time will tell.

(i'm still contemplating the SPP....so, you're not too wrong either...: )

 

[quarky]

attached is the 'Comments on World Hertiage Proposal and Kodu Deposit' PDF from the Frontier Resources' site

 

[Kelpie]

Given that FNT has slipped below support of 8c, I'd be most grateful if someone could provide some technicals or fundamentals on this stick. Many thanks in advance, Kelpie.

 

[refined silver]

Given that FNT has slipped below support of 8c, I'd be most grateful if someone could provide some technicals or fundamentals on this stick. Many thanks in advance, Kelpie.

TA - under 8c = bad! (new lows, no support)
FA - if govt refuses mine license = not too hot either.

They have other props, but it sets them back a long way.

I finally sold at 9c on the day of the last bad announcement re govt approval. Had held since the IPO 5 yrs ago!!! (Had actually bought more at 9cents in Aug 07 then sold at 19c a couple of weeks later, basically meaning the whole thing was a wash, just 5yrs with money parked, that could have been so much more profitable elsewhere.

 

[Max_ob]

i think if you look back in time a bit, FNT does have some support in the 7.1 to 7.3 cent range. . .


i also hold and took advantage (disadv ) of the 8.5 cent offer and had made a decision at that stage to be a longer term holder if need be. . . . hopefully not 5 year long though for no profit. . . .


FNT does explain in one of its desperate to relieve concerns announcements that there is hope for positive outcomes. . . .

the biggest killer here is that they have not made any other updates to the situation and holders may be pulling the plug for tax or other reasons. . .


hey. . . .btw . . . i am very new at this and don't really know much. . . shame someone like YT doesn't have an interest in this share to provide more informed comments/discussion. . .

 

[doogie_goes_off]

Projects not within the licence under dispute:

Andewa epithermal gold Project (High grade, moderate size target)
Bukuam copper +/- gold/moly porphyry system (Large Target)

SMRV zinc-lead–silver-gold Project in the highly prospective Mt Read volcanics of Tasmania, Australia (High Grade target)

2 Retention Licenses covering two existing bodies of gold mineralisation that previously had Inferred Resources estimated. (pre-JORC) (Moderate grade/Moderate target size)

AND

Method of exploration

Frontier ‘owns’ and operates all the major required means of exploration including a long term and very competent human resources team, drilling, earth moving and transport equipment and magnetic survey equipment to maximise exploration success, while minimising costs in a very competitive environment.

The Frontier Directors and management team have more than 200 years combined experience in mineral exploration, project development and financing in Papua New Guinea and Tasmania, to ensure the Company has the best possible opportunity to achieve success.

*Paraphrased from the website*

So fundamentally there's plenty of other reasons it wont go below 7.1-7.3c

Note - I hold

 

[Kelpie]

Thanks to Max_og and doggie_goes_off for the info.

I now see the longer term support at the 7.3c level - from which it bounced (from an intraday low) a couple of days ago.

Sounds like there's still hope yet for this one.....

Thanks again, Kelpie.

 

[quarky]

well, this 0.070 price is making me nervous. i hope it doesn't collapse as i got a stackload of shares which i bought at 0.185 a year ago....that would be devastating and i got burnt with One.Tel about 8 years ago too.

anyway, Max_ob makes a good point of how there's been no information out of the company (well, officially) about the status of their prospects, whether it's Kodu or anything else. in fact, the Aust. Govt. is really driving the World Heritage Listing initiative (pumping money, influence over key people, etc.)...so, this could be bad news for FNT and its shareholders, i.e US

 

[nioka]

in fact, the Aust. Govt. is really driving the World Heritage Listing initiative (pumping money, influence over key people, etc.)...so, this could be bad news for FNT and its shareholders, i.e US

My tip is that the PNG govt will bleed the Aussie govt for all they can on the Heritage listing etc then allow mining anyway after pressure from the local landowners. I took up my $5k offer, which was funded by profit from trading in FNT anyway, and they are now a bottom drawer proposition with a 70% chance of being a great winner. My family has a long association with PNG and that is the opinion of some of the family members who spent many years there. but DYOR.

 

[payshense]

i gotta laugh(this thread has been pretty quiet for a while) I was just sitting on the front veranda, wondering what to do with the money when Frontier eventually comes through... came inside n sat down, logged in here... I've been holding my share of FNT for some time now too. Why? I'm not real sure now if politics could keep its nose out of the whole affair, we would surely be on a winner now Could be that patience is the key with Frontier. Maybe I am missing something here. Can a potential multi billion dollar resource, be left laying in the ground indefinately? While the people who own that resource continue to live in poverty. And tourists from the country that stopped their mine, walk through their land. Rant had.
On a final note, i find the steps Frontier are taking, to use and improve technology for the processing of waste, rather encouraging. Not to mention their other prospects potential.