Gold coast bulletin Frontier Resources Limited, majority owned...

Gold coast bulletin

Frontier Resources Limited, majority owned by Forise Investment, announces new gold interests in Papua New Guinea

FAILED Spirit developer Forise has shifted focus from its monumental disaster on the Surfers Paradise Esplanade to mining for gold in Papua New Guinea.The Chinese developers quietly took over obscure ASX-listed mining fund Frontier Resources in June for $6 million.Gold Coast lawyer Tony Hickey became a director of Frontier on June 19, along with Yun Wei “Fenix” Dong, CEO of Forise Investment Australia, the company behind the Spirit development.Mr Hickey’s company Hickey Management was formerly the Chinese developer’s Australian project managers for the $1.3 billion Spirit tower.Frontier Resources, which is also listed on the Frankfurt stock exchange in Germany, paused trading ahead of the announcement this morning that it had been granted a new gold tenement near Port Moresby by the PNG Government.The company said it had also gained two-year renewals for two of its existing tenements.