Forte Energy

Full Forte Energy profile here

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.

Forte Energy takes first step in divestment of Millenium Copper Project

Tuesday, August 18, 2009
company news image

Uranium focused exploration and development junior, Forte Energy (ASX & AIM: FTE) took the first step in divesting of its Millenium Copper Project, Queensland, Australia.

Forte has stated repeatedly that it was looking at its options for the project, after the company’s focus shifted towards uranium exploration in West Africa – a strategy that has paid off, with an initial resource defined at the Firawa Project in Guinea last month, and a joint venture with Areva in Mauritania signed last year.

Element Minerals Australia will pay A$20,000 to Forte Energy for a six month option to acquire the project, with an option to extend the agreement by a further six months for an additional A$20,000.  If Element Minerals decides to exercise the option, it will either issues shares (subject to ASX listing) to the value of A$160,000, or Element’s parent company, Orocobre Limited (ASX: ORE) will issue shares or make a cash payment.

“This agreement reinforces Forte Energy's strategy of concentrating on exploration of its uranium prospects in Guinea and Mauritania, West Africa,” Forte stated.

Orocobre is focused on completing a Bankable Feasibility Study on the Olaroz Lithium-Potash project in Argentina.  Orocobre recently raised approximately A$5 million. As part of the fund raising, the company said its intention was to spin out its copper and gold interests into a separate company (Element Minerals Australia) that would list on the ASX before the end of 2009.


Register here to be notified of future Forte Energy articles.

Additional Information

Market:AIM / ASX
Sector:General Mining - Uranium & Lithium
EPIC:FTE
Latest Price: 4.34p  (0.00%)
52-week High:12.25p
52-week Low:4.34p
Market Cap:25.20M

1 year chart

digital-look imported chart image

1 day chart

digital-look imported chart image

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.