Australian (ASX) Stock Market Forum

FNR - Far Northern Resources

27 June 2010
Far Northern Resources was established in September 2017. Since then, the Company has acquired a 100% interest in the Rocks Reef Project (EPM 26743) and a 73.6% controlling interest in the Empire Gold Project (ML20380). On listing the Company will acquire the remaining 26.4% of the Empire Gold Project through the acquisition of the 26.4% of Premier (the Premier Shares) which it currently does not hold. Both of these projects are in North Queensland near Chillagoe.

The Empire Gold Project currently has a JORC 2012 resource of over 820,000 tonnes of ore for 22,503 ounces of gold (Indicated and Inferred @ 0.02 g/t cut off). There is also approximately $850,000 worth of mining equipment associated with the project.

On 8 November 2022 FNR also entered into an agreement to acquire 100% of Bridge Creek Mining Pty Ltd which holds 3 Northern Territory Mining leases (MLN 30807, MLN 1060 and MLN 766). A JORC 2012 resources of some 1.97 million tonnes for 70,560 ounces of gold (Inferred @ 0.5g/t cut off) has been established on the tenements to date. The agreement to acquire Bridge Creek Mining Pty Ltd requires the Company to raise a minimum of $4,000,000 and that its Shares be listed on ASX.

Following completion of its IPO and the acquisition of Bridge Creek Mining and the balance of the Premier Shares the Company will hold 4 Mining Leases in Queensland and the Northern Territory (with established resources of a total of over 93,063 ounces of gold indicated and inferred and an additional 28,110 ounces of gold yet to be classified) and one exploration licence.

It is anticipated that FNR will list on the ASX during September 2023.

Listing date23 October 2023 ; 12:30 PM AEDT ##
Company contact
Ph: 61 405 424 246
Principal ActivitiesMining Exploration
Issue PriceAUD0.20
Issue TypeOrdinary Fully Paid Shares
Security codeFNR
Capital to be Raised$6,000,000
Expected offer close date08 September 2023
UnderwriterNot underwritten, CPS Capital Group Pty Ltd (Lead Manager).