Trading halt pending assay results

This morning we saw our rare earths exploration investment FNT enter a trading halt pending some assay results.

In our latest FNT note, we mentioned that after uncovering 12 “priority 1” EM targets, the FNT team was on site conducting some “ground-truthing”. This is basically having the team on-site collecting rock chip samples in and around the target areas, looking at outcroppings, and pinpointing exactly where they intend to drill.

This forms part of the target generation works, whereby a junior explorer pinpoints high priority EM targets, checks if there are interesting outcroppings/high grade rock chips in that area so as to rank them from highest to lowest priority ahead of drilling .

For FNT to enter a trading halt ahead of announcing assays from these rock chips, we suspect the team must have picked up some interesting results.

FNT’s rock chip sampling is another step towards the maiden drilling program expected in the upcoming quarter.

Next week could make for an interesting one for FNT, with the results due. We also note that the share price of next door neighbour Dreadnought Resources moved from ~2.5c to a high of ~6.2c off the back of its rock chip sampling results (adding ~$91M to Dreadnoughts market cap).

One reason that we invested in FNT was to see it drill its rare earths project next door to Hasting's rare earths project, which is due to come into production in 2023.

To see all of the reasons why we invested and what we want to see FNT achieve in 2022, click here to see our 2022 Investment Memo.