Research ASX200: Forte Energy NL (FTE)

StoneBridge Snapshot – Forte Energy NL (FTE $0.11) – Excellent high grade U3O8 potential in Mauritania

• FTE is focused on exploring for uranium mineralisation at its two West African projects in Mauritania and Guinea.
• Areva NC, the world’s leading nuclear fuel cycle company, backed FTE with a $2.7M placement @ $0.135/share. Areva now has a 14.4% stake in FTE.
• The Bir En Nar project in Mauritania is the most prospective, where drilling in late 2007 returned a number of high grade intersections.
• FTE is set to commence a second round of drilling at Bin En Nar project in Mauritania in July 2009.
• Results of the second drilling program at the Firawa project in Guinea are being assessed and FTE expects to release an initial resource in the next few weeks.

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