Not that long ago we were around 5c, who would have thought in 12 months we would be drilling a deposit with the same resource footprint (2.5km x 2.5km Approx) as the 45> Million ounce Lihir resource that the MD has drilled himself and knows very well.
Who, 12 months ago could have imagined we would have 5 JV's with Ok Tedi, the country's biggest export earner hungry for a new mine ready to drill in the coming weeks?
Here we are today, cashed up ( $8- $10M after next week ) ready to drill a massive target that the company has clearly demonstrated both geochemically and geophysically that a massive World Class Deposit is likely to lurk underneath. With brand new rigs on way capable of drilling over 1200M FNT certainly mean business.
"If" Ok Tedi manage to prove up *1* big resource out of 5 that is anything like their own mine FNT could be looking at around $100 -$150 Million Profit PA after tax. Getting the mine to Production would be pushed hard.
Onwards and Upwards from here!!
Well done FNT mangement!!!
Cheers, Ubid
Ps. Don't forget about Tassie!!
FNT Price at posting:
24.6¢ Sentiment: Buy Disclosure: Held
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