StoneBridge Snapshot – Forte Energy NL

StoneBridge Snapshot – Forte Energy NL (FTE $0.145) – Releases maiden resource for Firawa Project

• FTE is a uranium exploration company focused on its two 100% owned projects in West Africa.
• The Firawa project in the Republic of Guinea has a JORC compliant resource containing 11.6Mlbs and remains open at depth and along strike.
• A 6,000m drilling program at the Bin En Nar project in Mauritania is set to commence this month. Previous drilling at Bin En Nar has returned grades of over 3,000ppm eU₃O₈.
• FTE has indicated it aims to define a JORC compliant resource of 15-20Mlbs at the Bin En Nar project.
• The company is well funded having completed a $10M capital raising in June 2009 at $0.10/share.
• FTE is currently trading on an EV/Resource multiple of A$6.30/lb, which is in line with its peer group and accounts only for the Firawa project and does not factor in any upside for the highly prospective Bin En Nar project.

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