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Forte Energy shares suspended on AIM ahead of Slovak project update

By Giles GwinnettJanuary 27 2015, 10:27amhttp://www.*.co.uk/genera//img/companies/news/europe_map_colour_350_54c7686341541.jpgKuriskova is the more advanced of the two projects and spans around 32 sq kim
Forte Energy (LON:FTE, ASX:FTE) shares have been suspended on AIM today ahead of an announcement concerning its Slovak projects.
Last year the firm acquired 50% of European Uranium’s two projects in Slovakia.
"The suspension is in place in order for the company to finalise its market announcement having received the JORC resource estimate for its Slovak projects," the firm told a brief regulatory statement.
Kuriskova is the more advanced of the two projects and spans around 32 square kilometres.
A pre-feasibility study in 2012, based on a previous resource estimate, indicated a project with a US$276mln net present value and a 30% internal rate of return.
On January 13, the firm voluntarily suspended shares on the Australian stock exchange and last Thursday said that suspension had been extended while the company finalises the announcement.
"As this will be the initial "JORC" compliant resource statement for the Slovakian assets, there is a significant amount of technical information that needs to be compiled and translated for inclusion in the report.
"Our consultants have experienced a delay in receiving some of this information," the firm said.