FNT with its access to $6M cash,could see the PNG Mining Minister view of FNT’s application to take control and operate the US$250M Inferred resource Sinivit mine favourably. Actually this funding opens up a host of scenarios involving JVs re:Muller and Bugalo.
As for our corporate structure post placement...it sort of puts us back at a level in 2015 where we consolidated with a 20:1 with approximately 600M shares on market.
Plenty of scope for FNT to grow now. Pretty exciting really.
As for potential control issues...Peter and the board would have spent quality time looking at the implications going forward. FNT need to keep the locals and the Minister on board through all of FNT’s activities here on in.
Potential for FNT to find the next mother lode is certainly present. The helicopter operator/s have a significant holding to consider, our own drilling rigs are in the area and identified high yield targets are mapped out with reported work having been done on access to these targets earlier in the year.
FNT Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
