Strangely I sent an email to Peter asking a few of those questions...maybe this prompted some of the info to be shared??
The agreement is backdated to 1st January, so we'll be receiving a nice refund for that time period, as if the cash burn is close to what has been stated then we'll be getting it all back :)
This agreement will keep FNT moving forward.
"Frontier have negotiated 3 different earn-in Joint Ventures on 2 ELs, 3 ELs and 1 EL + 1 ELA respectively, in Papua New Guinea, with a total earn in requirement of approx. $80 million (US$24 million, US$36 million and A$20 million, respectively)."
So our 30m MC company now has two big brothers having to spend a minimum of$80m over the next few years, The terms of each are mixed but that's a lot of work we don't have to pay for.
FNT Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
