Hi Markyb49. Thank you for your in depth posts over time. They demonstrate a lot of research on your part and your efforts are appreciated.
Regarding the company’s current prioritisation it is clear that the Gascoyne REE exploration has replaced our original flagship gold exploration tenement that surrounds the Tolukuma mine. Even FNT’s revamped website has Gascoyne at the very top, and Tolukuma at the bottom of its hierarchy of projects.
I mention this because unfortunately I am less confident than you are regarding EL2531 - not in its prospectivity (definitely not), but because our lease expired a year ago. The longer the delay the more concerned I am that it may not be renewed. .. I have wondered for a long time, or at least since the director’s report in the Sept 2021 annual report, if the company has harboured doubts about its renewal too. …Hence the diversification and change of direction some 5 months or so ago…. Hopefully the long delay is more Covid than politically related, but Lole too has been quiet on its plans for Tolukuma,
Like you we have a not insignificant financial interest in FNTs success, and so are delighted with the new direction and appointment, and of course the SP rally on the back of this.
As we have an apt in St George’s Terrace I had a sticky beak recently at the company’s registered office (#99). It appears to be a virtual office, with level 8 occupied, according to the lobby directory, by Minerva Corporate Mahe Capital - Atkinson corporate lawyers, Vonex Ltd and 12C Architects. Not surprising with the WA border restrictions rendering face to face meetings difficult if Peter Swiridiuk has to travel from Queensland. Not sure where the other 2 directors reside, but suspect it is WA.
If anyone has any information about our PNG mining licence renewal, I would be grateful to hear it. … Apologies for any errors or misinterpretations in the above. Just the end week thoughts of one shareholder.GLAH
FNT Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
(20min delay)