Sean K
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- 21 April 2006
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They're still picking up rocks in PNG too aren't they?
Not too sure about this REE thing. Inferred 725ppm TREO in % terms is 0.0725% I think. Is that good for TREO?
Frontier Resources on the hunt for Rare Earth Elements in the Murray Basin.
158 million shares to be issued at 1.3c to fund the acquisition and working capital.
The FNT share price is holding up OK this morning, up 12.5% to 1.8c. The market clearly thinks there is potential here, but it's early days at the moment. REE is a hot sector, but invoking nearology isn't enough to pump up the share share too far.
They're still picking up rocks in PNG too aren't they?
Not too sure about this REE thing. Inferred 725ppm TREO in % terms is 0.0725% I think. Is that good for TREO?
Yes, I've enjoyed watching this. Mostly based on an old colleague of mine who ramped the hell out of this when they had some sort of geo tech outerspacial anomaly thingy in PNG that was going to be the next Lihir. He claimed to have bought a crap load of it and kept on buying as it went down, and down, and down. I think he lost his house. Ref my posts here from about 10 years ago. I'm sure there's a hydrogen project they'll buy into next.Yeah.
No idea. FNT appears to be a company that likes to get its fingers into a number of pies in the hope that at least one of them turns out. Chasing hot metals or sectors is great when you get it right, but there is no magic formula and things can go very wrong.
I wish FNT holders luck, but the approach from management seems to be too scattershot for me to take a real interest, other than to watch with interest from the sidelines.
Frontier Resources on the hunt for Rare Earth Elements in the Murray Basin.
the Performance shares aren't exactly Olympian in the hurdle.The FNT share price is holding up OK this morning, up 12.5% to 1.8c. The market clearly thinks there is potential here, but it's early days at the moment. REE is a hot sector, but invoking nearology isn't enough to pump up the share share too far.
Whenever stockswami is tweeting on a company I find it best to stay far far away. Lots of FNT tweets this week...
Recent rare earths project acquisition has pushed the price up. Recent gap up on low volume has me expecting it will fill the gap once the (fairly thin) excitement wears off.Is this a tweeter? I better follow him to set up some shorts. Tks.
REE mineralisation in the Murray Basin at Australian Rare Earths (ASX:AR3) Koppamurra Project is hosted by clay material interpreted to have been deposited onto a limestone base (Gambier Limestone) and accumulated in an interdunal, lagoonal or estuarine environment. The mineralogy of the clay is indicative of formation under mildly alkaline conditions in a marine or coastal environment from fine grained sediments either river transported or windblown thereby supporting this interpretation.
Mineralogical test work conducted on a clay sample from the Koppamurra Project area established that the dominant clay minerals are smectite and kaolin, and the few REE rich minerals detected during the SEM investigation are not considered inconsistent with the suggestion that a significant proportion of REE are distributed in the sample as adsorbed elements on clay and iron oxide surfaces.
Work to date suggests that the source of the REE at Koppamurra is most likely basalt associated alkali volcanics of the Newer Volcanics Province in south eastern Australia, with the wider Koppamurra project area being considered prospective for rare earth mineralisation. However, whilst Koppamurra clays display ionic character, and the deposit shares a number of similarities with both ion adsorption clay deposits and volcanic ash fall placer deposits, there are also a number of differences, with further work required before a genetic model for REE mineralisation at Koppamurra and the broader Murray Basin can be conclusively defined. In addition, further work is required to better define metallurgical recoveries, process flow sheets, effective mining methods, and project economics.
Chairman Alec Pismiris commented “Completion of the acquisition of Dalkeith complements the recent acquisition of the Murraydium REE Project and allows the Company to progress with planned exploration for critical metals .”
The two recently acquired Dalkeith exploration licences are either end of HAS, Yangibana high grade, high value REE deposit. The area is historically under explored and geologically under shallow cover. FNT have a large land holding in the eastern Gascoyne province.
“The discovery of additional ironstones at the Company’s Gascoyne rare earth project is an exciting development. These ironstones have never been sampled for rare earths and are identical to the ironstones that host the major rare earth mine at Hastings, less than 3km away. The close proximity to Yangibana, combined with the recent successes of our neighbouring tenement holder Dreadnought Resources (ASX : DRE) discovering high grade ironstones and REE bearing carbonatites, highlights the fertile nature of the area. This validates the Company’s conviction to be an early mover in the region to explore for rare earths. We are eagerly awaiting the assay results and planning the first drill program for Q2 this year to test these new discoveries.”
Don’t think I will be holding for years, I have no idea how much cash, debt, mine life or total resources they have, the buy is purely on the chartYeah, so shares quoted are up 25x in 8 years since 2013 and being acquainted with FNT for 2 decades when it was under the stewardship of the McNeils, I am certain a share consolidation happened before 2013. Go for it and end up with a tiny fraction of your equity per share left after holding for years.
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