Hi all - I share your disappointment. Not yet a fait accompli...

Hi all - I share your disappointment. Not yet a fait accompli though.

Despite the binding nature of the terms sheet, there are still a number of conditions that need to be met before July 31st. Not the least of these is SH approval (that’s us ). But for the sale of our EL2531 (that surrounds Tolukuma Mine), and our ELA 2529 (near the old Sinvit gold mine in New Britain) to go through, there are still other conditions that have to be met. These include Lole Mining being granted ML104 (seems likely), plus Lole being successful in listing as an IPO - or their securities being sold to another ASX listed company (my preferred option).

I suspect the BOD know which experienced gold miners Lole mining are, or have been, in discussions with. IMO this must have been in the pipeline since late last year - eg BOD change, REE acquisitions, Tolukuma to bottom of FNT’s list of projects, very late advice re EL renewal (which of course expires in feb next year anyway) etc... Not to mention PM Marape’s espoused (and justified) aim for more of the value of its resources to be retained by PNG and its people rather than go offshore. Just hope that this is what will happen; for the benefit of the Goilala people, not just to fill the pockets of the 6 companies that go to make up LM (predominantly southern highlands ??) ... . Just thinking aloud, looking at all the possibilities and deals that do happen behind closed doors