thanks to all for their opinions.At the end of the day, that's...

thanks to all for their opinions.

At the end of the day, that's all we have - opinions. We dont have access to the data FNT management or Lole have, nor their thoughts.

I suspect, and respect, that the new management board has collectively considered (at least) the following:

- prospectivity of AUS projects vs PNG
- the markets for the respective resources located in AUS and PNG projects
- the soveriegn risk, govt backing and tech demand for each resource and region
- the long term potental of the issuance of EL that took some 8-10? mths to reissue, coupled with Lole jumping in next door to save the day to create value for the stakeholders
- the reality that value add of Tolukuma relies entirely (in my summation) on Lole using our reseource as feed (it ain't being sent elsewhere!)
- the reality that achieving an initial JORC resource gives the first skerric of value to the project over and above 'potential' but the next phase involves many millions of $ and a vast amount of time to achieve, and for what guarantee?
- nothing to date reflects a bonanza resource on our EL, (albeit we dont know what lies beneath, but no one does) and it will cost a heap of time and $$$ to find out
- limited budget and time is of the essence.
- if (and it's an if) FNT acquires shares in Lole, our stake will in some way, shape or form return value to FNT shareholders once the future hard work is done.

Truth be known, i bought originally for FNT's PNG prospects. After years of hoping, i am so appreciative of management's entering into the REE space in Australia. For the last 6 mths, i've hoped they bail on FNT. For all it's potential, there has always been a sad story to tell in the end. I feel most for the landowners. But now, assuming all goes through, we can focus our cash and efforts on the brilliant potential of the Aus REE and Alumina projects whilst (hopefully) banking a passive investment in PNG gold. I honestly feel we could of spent 2 more years and millions of dollars driling the crud out of Saki et al, colminating in an inferred resource that only Lole was interested in taking.

To me, right or wrong, management can only make decisions based on what's in front of them. Pie in the sky 'potential' is only worth so much, and when you have multiple options on where to take the company next you have to make a call. i agree with them based on all i can know.