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Additional information
Additional Information
Market: ASX / AIM
Sector: General Mining
Epic: FTE
News: Latest news
Web Site: Forte Energy
Other Articles: 21-06-201021-06-201025-05-2010
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Thursday July 29, 09:30Specialist Energy Group Lays Out a Compelling Blueprint for Growth

After a difficult start to life as a stock market listed company, the company now stands at the threshold of a much brighter future. Legacy issues have been dealt with and the turnaround programme initiated by CEO Ewan Lloyd-Baker is gaining traction.

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Wednesday July 28, 11:30Silver Lake Resources boosts high grade gold resource by 70% to 2.5m ounces

Silver Lake Resources has added over 1 million ounces of gold to its resource inventory during the year after mining 66,700 ounces and expects further encouraging results at its  Mount Monger and Murchison projects.

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Thursday July 15, 02:10Henan Yuguang Lead & Gold investment in Kimberley Metals receives all clear from FIRB

Kimberley Metals (ASX: KBL) has reported that on 12 July the Australian Government Foreign Investment Review Board (FIRB) had no objections to Henan Yuguang Lead & Gold Co. Ltd's [...]

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Forte Energy

Forte Energy

Forte Energy NL is an Australian-based minerals company focused on the exploration, evaluation and development of uranium and energy-related projects worldwide.

The Company changed its name from Murchison United NL on 25 November 2008.

Forte Energy has secured an extensive portfolio of uranium projects in the Republics of Guinea and Mauritania in West Africa, where it is pursuing intensive exploration programs. The Company also holds copper and cobalt interests in Queensland and Western Australia, Australia.

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Wednesday, March 17, 2010

Forte Energy H1 saw busy exploration programme, cash up year-on-year

Forte Energy (AIM, ASX: FTE) has had a busy first half in which it undertook extensive exploration. During the period to end-December 2009, the company completed the second tranche of a US$12 million capital raising to help fund its accelerated exploration activities in West Africa. The company had cash of US$5.9 million at the end of the period compared to US$4.2 million a year earlier and US$6.6 million at 30 June 2009.

Pretax loss widened to US$1.7 million from US$984,516 in equivalent period of the previous year, mainly on significantly higher administration expenses, while revenues were down from US$199,079 in the previous first half at US$163,384.

Forte Energy is currently focused on its uranium exploration licences in West Africa in the Republic of Guinea and the Islamic Republic of Mauritania. In June 2008 the company entered into an extensive cooperation agreement with Areva NC to expedite exploration and development of its Mauritanian assets.

The exploration programme undertaken during the period included diamond core resource drilling at the Bir En Nar uranium project, with estimation of a maiden JORC code compliant resource expected in Q1 2010. Results from geophysical ground surveys have been used to help guide a reverse circulation (RC) core drilling program of up to 6,000m covering 11 of these anomalies that is currently underway.

The company announced a JORC code compliant initial inferred resource of 17.7Mt (million tonnes) grading 296 ppm (parts per million) of U3O8 (uranium) for 11.6 Mlbs (million pounds) of contained U3O8 at its Firawa Prospect in Guinea, while also reporting the potential for economic recovery from leaching indicated by initial metallurgical testing with further optimisation studies currently underway at the project.

In Australia, the company entered into an option agreement with Element Minerals Australia Pty Ltd, a wholly owned subsidiary of Orocobre Ltd (ASX: ORE) in August to sell its Millenium leases. In December the company entered into an agreement to sell its interest in the Maroochydore JV project to the JV exploration manager and JV partner Birla Maroochydore Pty Ltd a wholly owned subsidiary of Aditya Birla Minerals Ltd (ASX: ABY) for US$2 million, which was received in February.

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