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Frontier Resources Limited ( (AU:FUN) ) has shared an announcement.
Fortuna Metals has significantly expanded its footprint in Malawi’s emerging rutile province by acquiring 100% of the Mkanda and Kampini projects, which span 658km² and sit immediately south of Sovereign Metals’ giant Kasiya rutile and graphite deposit on the same prospective Lilongwe Plain. Early exploration at Mkanda has confirmed a substantial rutile discovery, with high-grade hand-auger drill results up to 2.21% rutile over a broad area and 675 shallow holes completed, all ending in mineralisation and remaining open at depth; graphite assays are being run in parallel to support a dual-commodity strategy. Backed by a A$3.5 million capital raising with board participation, the company expects a steady flow of assays through the March quarter of 2026, which could further define rutile and graphite mineralisation and enhance the economic and strategic value of these projects within the critical minerals supply chain.
More about Frontier Resources Limited
Fortuna Metals Limited, formerly Lanthanein Resources Ltd, is an ASX-listed exploration company focused on rutile and graphite projects. Its key assets now include the Mkanda and Kampini projects in Malawi, strategically located near Sovereign Metals’ world-class Kasiya deposit in an emerging major rutile province, with strong access to transport, power and water infrastructure to support future development.
YTD Price Performance: 28.05%
Average Trading Volume: 507,403
Technical Sentiment Signal: Sell
Current Market Cap: A$31.18M
For an in-depth examination of FUN stock, go to TipRanks’ Overview page.