LNR - Lanthanein Resources
- Thread starter Sean K
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i traded FNT a few times and thought the story was reasonable, i feel for the people sitting on their large losses. i recently went through the same thing and it rammed home the importance of money management, stops and cutting your losses. sitting on a lot of money for a long time relying on HOPE that things will turn around is financial suicide.
quarky i feel really bad for you and hope things turn out ok, but seriously man, take this opportunity to learn the painful lesson and change the way you do things. i'm only saying because i recently had the same experience as you and i used it to turn around how i play the market. consolidate, make a new plan then come back and try again, this time armed with risk management. best of luck
quarky i feel really bad for you and hope things turn out ok, but seriously man, take this opportunity to learn the painful lesson and change the way you do things. i'm only saying because i recently had the same experience as you and i used it to turn around how i play the market. consolidate, make a new plan then come back and try again, this time armed with risk management. best of luck
First AGY (Burundi fiasco) and now this. Indicates not to invest in 3rd world projects no matter how rosy they paint the picture.
Fortunately, not too many $$$'s committed to them both.Hi
I fairly certain that it did say UPDATE SOON in that announcement so we wait and see but i wouldn't hold my breath.
To be fair i think we all had opportunity to get out recently as it climbed back but then went back down and the announcement that all were waiting for drove the nails in the coffin.
cheers
SG
I fairly certain that it did say UPDATE SOON in that announcement so we wait and see but i wouldn't hold my breath.
To be fair i think we all had opportunity to get out recently as it climbed back but then went back down and the announcement that all were waiting for drove the nails in the coffin.
cheers
SG
First AGY (Burundi fiasco) and now this. Indicates not to invest in 3rd world projects no matter how rosy they paint the picture.
Yes, it's a common theme. MHLs east-europe projects were it's undoing as well. I've learnt my lesson (dang this has been a year for learning lessons - spec plays in 3rd world countries, high leveraged infrastructure funds, insurance companies ... ).
thanks for sympathising with me Kelpie & disarray.
share price for FNT jumped over 10% today, 0.038 -> 0.042
FNT is looking at ways to proceed with the mining at Kodu.
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Frontier Resources, Awaiting Renewal Of Kodu License, Launches Spin-Off Firm
By Tereni Kens in Port Moresby
Sunday: June 29, 2008
Frontier Resources Ltd has announced plans to list a spin-off company on the Toronto Stock Exchange (TSX) in order to progress its controversial Kodu project in Papua New Guinea.
This copper-gold-molybdenum deposit is located in the Owen Stanley Range and is 55 km north-east of Port Moresby.
The inferred resource is estimated at 945,000 tonnes of copper equivalent grading 0.47 percent, within 203 million tonnes grading 0.28 percent copper, 0.32g/t gold, 73 ppm molybdenum, and 1.8g/t silver. It is estimated to contain 570,000 tonnes of copper, 65 tonnes of gold, 15,000 tonnes of molybdenum and 365 tonnes of silver (or 1.25 billion pounds of copper, 2.1 million ounces of gold, 33 million pounds of molybdenum and 12 million ounces of silver).
The Kodu copper-gold-molybdenum project requires approximately K39 million (US$15 million) for a bankable/definitive feasibility study, with the new company likely to list on the TSX and raise funds from North American investors.
Frontier expects to retain or obtain a major equity in the new company, to be named Koiari Copper, as well as retaining a majority of the board of directors and a cash reimbursement of some costs to date.
The name Koiari copper is in honor of the landowners’ and district’s ethnicity.
According to Frontier, the new corporate strategy has been determined to accomplish the continued exploration and possible development of the Kodu deposit. This strategy will also allow Frontier to further progress and benefit from exploration and drilling success on its Tasmanian and prospective PNG tenements.
Frontier has also reported that it continues to await the renewal of Kodu exploration licence EL-1348. No official written or verbal correspondence has been received in relation to this issue for several months, the company said in a statement.
According to Frontier, it has complied with all licence renewal conditions and expended more than K8 million (US$3.1 million) on the licence, which vastly exceeds the statutory expenditure commitment.
Landowners state that mining at Kodu and tourism at Kokoda Track should proceed harmoniously together for the benefit of all stakeholders and they are becoming increasingly frustrated and agitated by the lack of the exploration licence renewal.
Frontier has also announced that it is now offering a seven percent equity interest in total to PNG stakeholders in the Kodu project, including the Kokoda Track Authority (KTA), if the Kodu deposit is mined.
Kodu landowners have stated they will give 1 percent of their previously promised 5 percent equity to all other Kokoda Track/nearby landowners, proving the wealth would be equitably distributed in the region.
Frontier Resources said it wanted to recognize this generous gift of 1 percent by the Kodu deposit landowners with an allocation of a further 2 percent equity interest in the Kodu deposit to be administered by the KTA or successor and/or Koiari Local Level Government (KLLG), half for funding to preserve, operate and improve the Kokoda Trail and half for the creation of an educational fund for all Trail and nearby landowners.
The KTA and KLLG continue to express support for the renewal of the exploration license that contains Kodu and the responsible development of the deposit for the benefit of all stakeholders.
According to Frontier, the proposed equity distribution will rightly provide most fiscal benefits to the affected landowners, significant economic and educational benefits to all Kokoda Trail and nearby landowners and also sufficient funds to preserve the historical significance of the Kokoda Track and improve facilities along it for tourists/trekkers.
According to KLLG, the Koiari people provide their strong support to Frontier’s push for a mine to be established at Kodu. It would be unfair if the Koiari people were prevented from improving their livelihoods.
share price for FNT jumped over 10% today, 0.038 -> 0.042
FNT is looking at ways to proceed with the mining at Kodu.
----------------------------------------------
Frontier Resources, Awaiting Renewal Of Kodu License, Launches Spin-Off Firm
By Tereni Kens in Port Moresby
Sunday: June 29, 2008
Frontier Resources Ltd has announced plans to list a spin-off company on the Toronto Stock Exchange (TSX) in order to progress its controversial Kodu project in Papua New Guinea.
This copper-gold-molybdenum deposit is located in the Owen Stanley Range and is 55 km north-east of Port Moresby.
The inferred resource is estimated at 945,000 tonnes of copper equivalent grading 0.47 percent, within 203 million tonnes grading 0.28 percent copper, 0.32g/t gold, 73 ppm molybdenum, and 1.8g/t silver. It is estimated to contain 570,000 tonnes of copper, 65 tonnes of gold, 15,000 tonnes of molybdenum and 365 tonnes of silver (or 1.25 billion pounds of copper, 2.1 million ounces of gold, 33 million pounds of molybdenum and 12 million ounces of silver).
The Kodu copper-gold-molybdenum project requires approximately K39 million (US$15 million) for a bankable/definitive feasibility study, with the new company likely to list on the TSX and raise funds from North American investors.
Frontier expects to retain or obtain a major equity in the new company, to be named Koiari Copper, as well as retaining a majority of the board of directors and a cash reimbursement of some costs to date.
The name Koiari copper is in honor of the landowners’ and district’s ethnicity.
According to Frontier, the new corporate strategy has been determined to accomplish the continued exploration and possible development of the Kodu deposit. This strategy will also allow Frontier to further progress and benefit from exploration and drilling success on its Tasmanian and prospective PNG tenements.
Frontier has also reported that it continues to await the renewal of Kodu exploration licence EL-1348. No official written or verbal correspondence has been received in relation to this issue for several months, the company said in a statement.
According to Frontier, it has complied with all licence renewal conditions and expended more than K8 million (US$3.1 million) on the licence, which vastly exceeds the statutory expenditure commitment.
Landowners state that mining at Kodu and tourism at Kokoda Track should proceed harmoniously together for the benefit of all stakeholders and they are becoming increasingly frustrated and agitated by the lack of the exploration licence renewal.
Frontier has also announced that it is now offering a seven percent equity interest in total to PNG stakeholders in the Kodu project, including the Kokoda Track Authority (KTA), if the Kodu deposit is mined.
Kodu landowners have stated they will give 1 percent of their previously promised 5 percent equity to all other Kokoda Track/nearby landowners, proving the wealth would be equitably distributed in the region.
Frontier Resources said it wanted to recognize this generous gift of 1 percent by the Kodu deposit landowners with an allocation of a further 2 percent equity interest in the Kodu deposit to be administered by the KTA or successor and/or Koiari Local Level Government (KLLG), half for funding to preserve, operate and improve the Kokoda Trail and half for the creation of an educational fund for all Trail and nearby landowners.
The KTA and KLLG continue to express support for the renewal of the exploration license that contains Kodu and the responsible development of the deposit for the benefit of all stakeholders.
According to Frontier, the proposed equity distribution will rightly provide most fiscal benefits to the affected landowners, significant economic and educational benefits to all Kokoda Trail and nearby landowners and also sufficient funds to preserve the historical significance of the Kokoda Track and improve facilities along it for tourists/trekkers.
According to KLLG, the Koiari people provide their strong support to Frontier’s push for a mine to be established at Kodu. It would be unfair if the Koiari people were prevented from improving their livelihoods.
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Quarky, I'm afraid that is old news from a few months ago - before the decision was made to refuse the licence. However, it appears that Chief Somarie of PNG is currently in court defending tax fraud charges. If he is found guilty, it's likely he will be ousted, leading the way for the decision to refuse the licence to be overturned. That's good news for FNT, and there have been some recent large buys on the ASX, and some very large buys in Germany where FNT is also listed. I don't know who the buyer(s) are. Fingers crossed ........
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Blair Price
Friday, 4 July 2008
FRONTIER Resources says it will look at an out-of-court settlement with the PNG Government for not renewing its exploration licence over the Kodu deposit, but the company has appealed to the Australian Government for help over the issue of compensation.
Also, Kodu and Elo landowners have lodged an exploration licence application for a similar area.
Becoming very interesting ..........
Friday, 4 July 2008
FRONTIER Resources says it will look at an out-of-court settlement with the PNG Government for not renewing its exploration licence over the Kodu deposit, but the company has appealed to the Australian Government for help over the issue of compensation.
Also, Kodu and Elo landowners have lodged an exploration licence application for a similar area.
Becoming very interesting ..........
Update Announcement out......the last bullet point has me intrigued:
"Frontier owns 4 drilling rigs and is now successfully undertaking commercial drilling with 2 rigs to generate cash flow"
does anyone know where the commercial drilling is taking place????......somehow missed it
"Frontier owns 4 drilling rigs and is now successfully undertaking commercial drilling with 2 rigs to generate cash flow"
does anyone know where the commercial drilling is taking place????......somehow missed it
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Birdmanz, that reads to me that they are renting out there services to other companies not drilling their own tenements.
Basically they are selling an hourly rate due to not having anything to drill themselves at the moment.
Basically they are selling an hourly rate due to not having anything to drill themselves at the moment.
doogie_goes_off
disbelieve if you can
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Actually probably a bit short on cash, so they'll be making sure they can afford to go back to Andewa etc. Should stop them from needing to raise capital for a while. It means exploration is slower but ensures the best targets are recognised before a dedicated drilling campaign, i'd say it's quite positive.
Definitely positive. Hiring out two rigs it may bring in enough income to keep the others operating on FNT prospects. Another capital raising now would be at a very low price and cause a lot of dilution in the existing shares. I haven't given up hope of some change of heart by the PNG Govt. FNT is a bottom drawer job for me as the ones I hold are free carried and they can stay there.
Great announcement today........does anyone know the value of 30,850 ounces of gold equivalent...is it simply calculated by multiply by $798/oz = $24,618,300...thanks in advance for any replies
If this is so I'd expect some attention returning to FNT pretty soon
If this is so I'd expect some attention returning to FNT pretty soon
doogie_goes_off
disbelieve if you can
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More good results from Komsen (Andewa Project), looks like a big vein system with good gold grades. May bring value back into FNT shares eventually.
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More good results from Komsen (Andewa Project), looks like a big vein system with good gold grades. May bring value back into FNT shares eventually.
.....indeed, that with an increasing price of gold as well will hopefuly see an improvement in the SP!
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Miner Frontier Resources loses bid to explore Kokoda Track
in PNG
From correspondents in Port Moresby, PNG
AAP
October 31, 2008 04:48pm
AN Australian mining company has failed in its legal challenge to a decision that blocked its exploration plans along the historic Kokoda Track.
Perth-based Frontier Resources took Papua New Guinea's Mining Department to court after Mining Minister Puka Temu refused to renew its exploration licence.
Planned work at the Mt Kodu site would have threatened part of the Kokoda Track, where 600 Australian soldiers died fighting the Japanese during World War II.
Acting Chief Justice Salamo Injia today rejected Frontier's case as "misconceived and not arguable''.
From his Perth home, a disappointed Frontier boss Peter McNeil said his lawyers were now examining the result.
"We just get stomped on. The decision shows that the minster can just do as he pleases,'' he said.
"If there are grounds for appeal we will,'' he said.
"If there are grounds to sue for lost revenue and damages, we will,'' he said.
Frontier spent more than $3.5m and complied with all of PNG's laws and the Australian Government pressured PNG to block their licence, he said.
An Australia-PNG taskforce is developing eco-tourism and infrastructure projects for the locals while keeping mining companies out.
It is also looking at World Heritage listing for the area.
in PNG
From correspondents in Port Moresby, PNG
AAP
October 31, 2008 04:48pm
AN Australian mining company has failed in its legal challenge to a decision that blocked its exploration plans along the historic Kokoda Track.
Perth-based Frontier Resources took Papua New Guinea's Mining Department to court after Mining Minister Puka Temu refused to renew its exploration licence.
Planned work at the Mt Kodu site would have threatened part of the Kokoda Track, where 600 Australian soldiers died fighting the Japanese during World War II.
Acting Chief Justice Salamo Injia today rejected Frontier's case as "misconceived and not arguable''.
From his Perth home, a disappointed Frontier boss Peter McNeil said his lawyers were now examining the result.
"We just get stomped on. The decision shows that the minster can just do as he pleases,'' he said.
"If there are grounds for appeal we will,'' he said.
"If there are grounds to sue for lost revenue and damages, we will,'' he said.
Frontier spent more than $3.5m and complied with all of PNG's laws and the Australian Government pressured PNG to block their licence, he said.
An Australia-PNG taskforce is developing eco-tourism and infrastructure projects for the locals while keeping mining companies out.
It is also looking at World Heritage listing for the area.
doogie_goes_off
disbelieve if you can
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High grade gold and Bismuth results from Stormont Deposit - Tasmania:
o Assay results from the first 5 diamond core holes drilled included:
4.6m grading 23.9 g/t gold equivalent (includ. 1m 52.8 g/t gold) in SFD 005
5.0m grading 7.8 g/t gold equivalent in SFD 004
5.0m grading 4.8 g/t gold equivalent in SFD 003
2.0m grading 2.3 g/t gold equivalent in SFD 002 and
11.2m grading 2.4 g/t gold equivalent in SFD 001.
Looks pretty good for a near surface set of medium grade hits. Approx 11 holes still to be reported, should be interesting.
o Assay results from the first 5 diamond core holes drilled included:
4.6m grading 23.9 g/t gold equivalent (includ. 1m 52.8 g/t gold) in SFD 005
5.0m grading 7.8 g/t gold equivalent in SFD 004
5.0m grading 4.8 g/t gold equivalent in SFD 003
2.0m grading 2.3 g/t gold equivalent in SFD 002 and
11.2m grading 2.4 g/t gold equivalent in SFD 001.
Looks pretty good for a near surface set of medium grade hits. Approx 11 holes still to be reported, should be interesting.
anyone else receive the "RIGHTS ISSUE ENTITLEMENT AND ACCEPTANCE FORM"?
Something about 'entitlement to new shares on the basis of one New Share for three Ordinary Share held' @ AU$0.035 per Share
the offer closes at 03 December 2008.
the company is at it's lowest (ever?), trading at AU$0.018 today!
(i bought a heap at $0.185 over 1.5 years ago, i think....devastated by how much money/faith i had invested in this company , and how they got short-changed massively by Aussie/PNG Govt. for preserving the symbolism of war)
boo!
it'll take more than 5 years now for it to go back to the levels that i had seen, 2 years ago.
Something about 'entitlement to new shares on the basis of one New Share for three Ordinary Share held' @ AU$0.035 per Share
the offer closes at 03 December 2008.
the company is at it's lowest (ever?), trading at AU$0.018 today!
(i bought a heap at $0.185 over 1.5 years ago, i think....devastated by how much money/faith i had invested in this company
, and how they got short-changed massively by Aussie/PNG Govt. for preserving the symbolism of war)boo!
it'll take more than 5 years now for it to go back to the levels that i had seen, 2 years ago.
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