New Investor for Tolukuma Mine, page-7

First 7 Last

Share
Profile

Follow
MarkyBoy49

9,951 Posts.

3715

11/08/21

01:51

Post #: 55187664
Share

Originally posted by MarkyBoy49: ↑

IMHO, this story is only just beginning to unfold. I continue to maintain that FNT are in a very good position, regardless of how things play out.

From today's news, it is obvious that the PNG Government/MRA are becoming increasingly impatient and want the Tolukuma ML104 mine and mill back in operation asap. This will be good for the PNG Government/MRA, but most importantly, very good for the PNG economy.

In this regard, I can imagine the PNG Government/MRA offering Lole Mining Limited ML104 without the payment of a major amount of money (originally around A$25 million). Under such an arrangement, the PNG Government/MRA would lease ML104 to Lole Mining Limited as a "complete mine and mill operation package". Having Thomas Lole taking over the operations of ML104 would be a good move i.e. he is well known to the PNG Government/MRA and thus can be trusted to do the right thing.

Under the above arrangement, the taking over of the running of operations at ML104 would be relatively easy for Thomas Lole and his company Lole Mining Limited. It would also now be highly attractive. Why now? A lot has changed since FNT commenced their exploration of EL2531 (which adjoins ML104) i.e. through FNT's exploration efforts, the total amount of gold contained within EL2531 and ML104 is now probably in the vicinity of 1.5 million ounces. Without EL2531, ML104 probably contains less than 500,000 ounces. Therefore, with a mill production capacity of ca. 80,000 ozs of gold p.a., we are now talking about a mine and mill life of around 20 years.

As you can see, the taking over of ML104 is now a far more attractive proposition than it was only a couple of years ago. I would suggest that the PNG Government/MRA and Thomas Lole see things similarly.

Cheers.

Expand

Just to add, it is likely that the Investment Promotion Authority will assist to get Tolukuma ML104 back up and running again:

https://www.ipa.gov.pg/agriculture/mining/

FNT Price at posting: 2.3¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

SGR

Thousands eye Star on HotCopper, SkyCity in strife – are ASX casino stocks safe anymore?

NSM

North Stawell Minerals set to raise $1.3M in capital raising for exploration in Victoria

CRI

Critica unveils fresh REE hits near Jupiter play in WA – and 5 new prospects

THB

Thunderbird picks up plethora of uranium targets based on EM survey in Canada

There are more pages in this discussion • 21 more messages in this thread...

First 7 Last

Add LNR (ASX) to my watchlist

(20min delay)
Last 0.3¢		Change 0.000(0.00%)		Mkt cap ! $7.330M

Open	High	Low	Value	Volume
0.3¢	0.3¢	0.3¢	$59	19.5K

Buyers (Bids)

No.	Vol.	Price($)
19	18860035	0.3¢

Sellers (Offers)

Price($)	Vol.	No.
0.4¢	18879575	25

View Market Depth

No.	Vol.	Price($)
19	18860035	0.003
40	37145226	0.002
20	86173078	0.001
0	0	0.000
0	0	0.000

Price($)	Vol.	No.
0.004	18879575	25
0.005	16408746	14
0.006	16321373	16
0.007	29057830	11
0.008	4743701	10

Last trade - 10.04am 17/10/2024 (20 minute delay)

LNR (ASX) Chart

New Investor for Tolukuma Mine, page-7

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Thousands eye Star on HotCopper, SkyCity in strife – are ASX casino stocks safe anymore?

North Stawell Minerals set to raise $1.3M in capital raising for exploration in Victoria

Critica unveils fresh REE hits near Jupiter play in WA – and 5 new prospects

Thunderbird picks up plethora of uranium targets based on EM survey in Canada

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

New Investor for Tolukuma Mine, page-7

Top Stories

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Thousands eye Star on HotCopper, SkyCity in strife – are ASX casino stocks safe anymore?

North Stawell Minerals set to raise $1.3M in capital raising for exploration in Victoria

Critica unveils fresh REE hits near Jupiter play in WA – and 5 new prospects

Thunderbird picks up plethora of uranium targets based on EM survey in Canada

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News