Those that have been following my blog for a while know that i’m pretty fond of this share called Frontier Resources.
Noticed it when it was 7.5 and today it closed at 15 cents in less than 3 months! And the news have not really been released yet about a lot of other drilling results......
Wow – might be the darling stock in 2011 – another potential sanfire!!!! Fingers crossed.
Happy investing in 2011!
Tungsten in 2011 metal spotlight TAKE your pick for the resource flyers of 2011 -- but tungsten is shaping up to be one of them.
Tungsten has a range of uses from light bulb filaments to strengthening steel for such things as mining drill bits. Its main attribute is high strength at high temperatures – its melting point is 3420C.
Australia’s -- and the western world’s -- tungsten industry is only just getting back on its feet after being king-hit more than 20 years ago when the Chinese flooded the world market at low prices. Tungsten mines all over the world closed and even today China controls 76 per cent of world production but has recently restricted exports.
Prices keep rising as world demand outstrips supply.
One of the more advanced tungsten plays here is Hazelwood Resources (HAZ) which is planning to produce up to 3 per cent of world needs when its West Australian mine comes into operation.
Several tungsten projects are well advanced in Tasmania and this week Frontier Resources (FNT) completed a soil sampling program at its Cethana-Narrawa project in the north of the island state. A diamond drilling program is planned for the June quarter and will target gold and base metals as well as tungsten. The project area contains at 55 historic workings -- shafts, adits and open pits -- which illustrates the level of mineralisation.
And it seems that tungsten hopeful Icon Resources (III) is about to make some further progress on its Mt Carbine project now that new MD Ian Sheffield-Parker has taken the reins. The company is planning to focus all its attention on getting the
Queensland project into operation and plans to start building a plant to treat the tailings left from historic mining. Construction should begin about the middle of the year. Overall, Icon expects Mt Carbine to have a 15-year mine life.
There are now suspicions that China is about to embark on building a strategic reserve of certain key minerals, tungsten being one. That could add an addition strain on world supplies this year.
Hi Irene,found your blog quite interesting.I went further to check on mining esp FNT then came across this http://www.asx.com.au/asxpdf/20110105/pdf/41w1hc6b59c78p.pdf
ReplyDeleteJust out of curiousity,lets say if FNT found there is a big deposit of tungsten or any mineral?do they immediately announced out or bigplayer will keep on accumulate and congested for a while more before announce it.Hope i wont bother you with my silly qz
ReplyDeletehi lee, well it all depends, company will take a while to evaluate the mining findings...and they will announce to the market in due course....of course people who have so called 'insider news' might accumulate more - but theoretically this is not legal in australia.
ReplyDeleteGreat =)
ReplyDeleteI checked another news on VMS that they had been successfully granted the tender to further explore on Mt Linsay.Just another question,why would you prefer FNT over VMS.From the looks of it,VMS seems to have upper hand considered that they had just been granted exploration rights.
Im a newbie in Australian Mining industry,please be patient with me
Thanks,have a great weekend
well FNT has OK tedi as their partner and financier for mining in PNG......if you look at ok tedi, they make more than $1b per year and is a major contributor to PNG govt revenue. So it is a very good partner. Also in PNG there are quite some major discoveries near where FNT is drilling.
ReplyDeleteHave a look at the map of PNG and you will see what i mean......
VMS is also very promising, that's why i hold both stocks :)
Thanks for the explanation... =)
ReplyDeleteMaybe i should invest in commodities stock as well considered,commodities price will increase on yearly.According to Jim Rogery,10-20 years down the road,it will be the farmers or miner that will get rich bcos of commodities even richer than the ppl work in the financial sector
well think about it, even for myself which i am not a very technological savvy person - i am using so many commodities to produce the things i do everyday - with my macintosh, speakers, tv, phone, car, etc etc etc......the modern consumer wants everything and wants it NOW - especially in asia where the demand is there - unlike older generations who are easily satisfied and willing to wait for good stuff.
ReplyDelete