• Frontier Resources Limited
• Website: www.frontierresources.com.au

Industry:

Metals & Mining

Fiscal Year-End:

Jun 10

FNT’s assets are in PNG and TAS. The Mt Bini (Kodu) project near Port Moresby is at an advanced stage of exploration. Early stage drilling has started at the Mt Andewa and Mt Likuruanga project areas. Exploration is focussed on expanding resources at the Kodu deposit, leading to scoping studies. FNT holds five ELs in Tasmania and two Retention Licences. PNG prospects are spread across Eastern New Guinea and New Britain. In TAS, FNT controls a 40km length of the prospective Mt Read Volcanics.

FNT holds its PNG assets through two subsidiary companies that combined hold 100% interests in 7,500sqkm. This coverage includes 11 Cu and/or Au prospects. Kodu is the only advanced project, but nearby Bukuam and Elo Hill are large targets progressing to drilling. FNT holds 90%-100% interests in 211sqkm in the highly prospective Mt Read Volcanics in TAS. Drilling in TAS has yielded encouraging Au assays at two prospects. A recent entitlements issue was fully subscribed, raising $5.7M.

FNT operates in the Materials sector, specialising in exploring for gold. The increase in demand for all metals and subsequent increase in metal prices has improved the attractiveness of exploring for these metals.

Primary targets are world-class, major copper-gold, gold, polymetallic (zinc, lead, silver, gold) deposits in three exploration licences in Papua New Guinea, covering 804sqkm, and five exploration licences in Tasmania, covering 211sqkm. The company's land position is first class in democratic, mining friendly, stable, highly prospective regions of the world.

FNT's major customers would include the retail, wholesale and international markets. Its competitors consist of other mining companies such as Mineral Commodities Limited (MRC). The mining industry is a global industry, which is highly competitive. Most oil and metals are sold into the global spot markets, whilst gas, coal and iron ore is typically sold under long term contract arrangements with utilities, large industrial users and steel plants.