Frontier Energy (ASX:FHE) has wound up Q1 of CY2024 with $10.3M in cash and a new Definitive Feasibility Study (DFS) under its belt for its flagship project.
That flagship is the Waroona solar project set for installation in WA’s southwest, reflecting one of the state’s largest renewable energy plays.
The company has moved closer towards financing decisions with key banking partners, and, Frontier flagged through Q1 that WA’s power prices hit new records – both a boon for the company’s revenues, and, a problem for customers the stock should be able to help mitigate.
Frontier is ultimately looking for debt financing of some $225M, per the projections contained in the DFS.
FHE last traded at 36cps.
Haranga Resources
Haranga Resources (ASX:HAR) has also released its quarterly on Tuesday, summarising the last three months of activity on-site in Senegal.
The uranium explorer wound up the quarter with around $2M in cash and over 2,000 samples under its belt for geochemical analysis. Auger drilling through Q1 clocked 410 holes sunk on-site Haranga’s landholding, as well as over 1,500 termite mound samples.
(The presence of termite mounds on-site the company’s acreage, it says, offer it a unique chance to test for anomalies without needing to do the hard work of getting samples from underground.)
Assays off the back of a 3,721m RC drill campaign are expected in late April, with rigs sniffing out leads at the Saraya deposit, which in turn boasts an inferred resource of 16.1Mlb of uranium. Some drilling was also done at Sanela and Mandankoly.
HAR last traded at 10.5cps.
