Ok a quick read through the quarterly anns and nothing particular new or exciting jumped out at me unless i missed something.
BUt these are the things I like:
As usual Peter has done an awesome job putting together the activity ann. A quality ann all the way through, pulling together all the drill results from both Andewa and Tassy. Painting a good picture of the JV and I got the sense he is trying to lean towards this now more than Andewa (anyone else think that?) Good to hear that Big rigs are in place and there are 2 of them and we are saving cash by storing the 400m onces. I am no GEO so i have no idea about the mineralisation talked about in the OTML holes, but I guess its good?!? We have a lot of anns to look forward to re the deeper drilling, a heap of OTML drilling and to a lesser extent for me, Tassie.
What I dont like: is the cash burn. There are a number of things that probably wont be expensed next qtr and thats obviously mobilising the big rigs, bulldozers and the tassie IP survey which is nearly finished. But to the new investors looking at FNT, what everyone agrees we need, a quick glance shows we are out of cash again by the end of the fin year. I am guessing ramping up of putting together a resource in Tassie to sell off is high on the to do list. Not sure what the time frame for that would be but thats not a overnight task. I also dont like that patience thing required for waiting for drill results.
FNT Price at posting:
11.1¢ Sentiment: Hold Disclosure: Held
