RE:RE:Whats Next for FL?I guess I am in the other camp. In order to finance the deposit into a mine, they need proven reserves. They have a large inferred amount, and although we all "know" they are real, the serious money they need will want to get proven reserves. This is especially true if the economy slows and rates go up, the risk premium will widely increase.
Management seems very patient here, and they are confident that the large program they have will move the proven number above 40 million tons, with lots of open zones still left to play with.
Boissenault and Letwin are well respected mining guys who have done this before. I know Trevor Walker learned a lot from watching Nemaska "know " what they had, and screw it up royally. They rushed it, wasted money, and it cost investors dearly.
In addition to ore, Frontier needs to know how to mine this, the slopes that will work for the pit, overburden (almost none so far), the grades they will start with and so much more. The road will be a serious step, and if it can be permitted and the contracts issued without FL paying for it (like the power), that will be a big management achievement.
I do not plan to be here once the mine is financed and construction on it begins, but there is still a lot of work to do before that, and likely ( I hope) more upside as this moves from speculative to real. I do not want a partner until the issues FL can control are finished, and that takes time, permits, assays, and a lot of other stuff that is necessary but always slower than investors want.
This correction seems like a market mess, to be expected after the huge run, and it usually clears out the weak ones and the good companies come out on top. I am glad management is not trying to step in front of this. The market will do what it does, and if we have the asset we all believe, and the right team running it, we will get paid for it.
Best of luck