No doubt, FNT has taken a daring and surprising move by signing JV with Solomon island gold mine community. Though millions of dollar infrastructure is there but operational difficulties together with financial challenges are still hovering over FNT.
I would take a cautious approach and watch every step of FNT carefully. It will be the question of survival for FNT if anything goes wrong from here.
In addition to previous history of Gold Mines in Solomon Island, other factors such as future gold price in the short term given the fact US economy is strengthening and will continue to strengthen in the next 6 to 12 months. It would mean weakening of the gold prices in the share market.
Secondly, FNT has about $480,000 in its kitty, which would not be enough to run even a small gold mine. This means 2nd round of capital raising will be inevitable. Current market sentiments would lead to substantial dilution of FNT shares.
Whichever scenario you take, FNT path of revitalisation of gold mining operation and eventually running a gold mine will always be full of challenges.
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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42 | 38095226 | 0.002 |
19 | 85923078 | 0.001 |
0 | 0 | 0.000 |
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Price($) | Vol. | No. |
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0.005 | 16408746 | 14 |
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