I have to agree with Goldie here. Peter has received a lot of shares in the last two years. Although he took a huge pay cut after the melt down it seems he has made up for it. My concern here now is the future of FNT. What has changed. Peter has leftmthe company and Paige has remained. Paul who is the new chief geologist remains and has been number one on the ground for years. Paul is PNG and is the chief negotiator on the ELA’s and also the man on the ground in PNG. We will have a new board who are saying nothing will change at this point and we will have $6M to pay our depts, on going commitments, ELA’s, leases and further exploration. The Independant report states that the dilution will not effect the SP at this level. We still have Bugalo and Muller will be resigned soon. The independant report has been made without consideration for Muller. We know we have good gold at Swift Kia with the average grating at 25g/t at the rich zone within the top 15m x 1500mt x around 10m. This strike length is open to an increase with the seam identified but not tested on the pathway into swit kai. We also have several other Highly magnetic Skarns which imply zone rich in copper and gold. The Anglo America application for the 750SKm surrounding Bugalo at Hela is still awaiting approval which I believe is our best chance at this stage for a JV (IMO). We have a program for testing the newly identified skarns at Muller which appears to be a request to quantify mineralization. Hopefully by another major. To top things off we also have Tolukuma waiting for approval and Are still second inline for Sinivit but will now have the funds to mine. Hopefully the Minister has been made aware of this (although I am tempted to contact him to make sure, cant hurt). To top it off Peters shares are being put on hold so they cannot be sold for 6mths which implies that nothing is going to change for at least 6 months. If Forise is going to flip us into real estate it appently wont happen for 6 mths which will give us time to finish this years testing and pump it the SP again.
Anyway that’s just where I see we are at the moment. Please feel free to add or subtract here. I’m still in hope this all for the better and from what I have read so far it looks above board.
Cheers and good luck all
GD
FNT Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held