Ann: Rare Earth and High Purity Alumina Projects Acquisition, page-66

It’s good too see that FNT has attracted serious investors, as well as more speculative, higher risk profile punters (like me). Not that I’m not serious. But I did buy (like others) into FNT for the PNG gold (plus what looked like conservative management), while at the same time being fully conscious of the sovereign risk… It’s this elephant in the room that concerns me now. … No one seems to be considering the possibility that our PNG EL may not be renewed. It expired (from memory) in February. That’s a long time ago in terms of any contract with defined Ts and Cs (the current French-Australian affair comes to mind). I can’t help but think that it was perhaps renewal uncertainties that prompted management to switch to REE in a safe jurisdiction. .. Of course I am more than happy with the new direction, and with our latest addition to the BOD. I shall though be much happier if and when we can see an updated expiry date on the EL (our original flagship asset), and some/any investment return on that. … Thanks GDoggy for keeping us up to date on the latest news from PNG’s MRA. .. Fingers crossed that we will see the renewal soon.