Frontier Energy Limited

We're pleased to welcome Regal Funds Management as a new substantial holder in Frontier Energy. Read more here: https://loom.ly/yq318Og

We're pleased to provide an update on the funding strategy for the Stage One development of our Waroona Renewable Energy Project. The company, having identified a range of financing options, has commenced discussions with counterparties. The project has all necessary approvals in place and we remain in a strong position to quickly advance the debt process once the DFS has been updated. An updated Definitive Feasibility Study, which is expected to demonstrate several key capital cost reductions compared to the original DFS, is on track for delivery in Q4 CY2024 and is key to progressing discussions. Read more: https://loom.ly/HyKWQJ0

Frontier Energy is hosting an investor webinar/conference call to provide an update on our Waroona Renewable Energy Project in Western Australia. Our CEO Adam Kiley will discuss today's update, before providing an opportunity for investors to ask questions. Register to join the call here: https://loom.ly/LH1jMlY

We have commenced environmental surveys focused on vegetation and flora and fauna with high conservation value over 565 hectares of our Waroona Renewable Energy Project. This work is critical for the future expansion of the Project, with an internal assessment on the most appropriate size and configuration for a Stage Two expansion expected to commence shortly. Our CEO Adam Kiley commented: “As a renewable energy company, ensuring the development of our Project is undertaken in accordance with the highest environmental standards is critically important. "Given the majority of the Expansion Area has been largely cleared for farming, it is highly suitable for renewable energy development and expansion of the Project. There are however a limited number of small pockets of vegetation that we intend to exclude from any clearing activities and expand for conservation purposes. "The Company will shortly commence an internal assessment of the most appropriate size and configuration for the Stage Two expansion. The results of this environmental work however will support the process to identify the most suitable location." Read more: https://loom.ly/wZYZdb4

Via Stockhead – Frontier Energy secures assigned Certified Reserve Capacity for Waroona Renewable Energy Project:

Frontier Energy and our Waroona Renewable Energy Project are discussed in The Pick Magazine. "In our view, FHE is one of the key ASX points of leverage to play decarbonisation and we see significant catalysts near term," Unified Capital Partners (UCPS)'s Jonathon Higgins says. "We see significant tailwinds towards the company getting the project off the ground with Stage 1, expanding to Stage 2 and delivering significant returns to shareholders. He continues: "The Australian Energy Market Operator (AEMO) has flagged that the WA economy needs projects such as Frontier's, and with significant Reserve Capacity Requirement shortfalls flagged within [the timeframe of] the project coming online, we see the likelihood of a highly attractive earnings profile." Read the full article below:

Frontier has paid the Reserve Capacity Security to the Australian Energy Market Operator (AEMO), a key step in the process to apply for Reserve Capacity Credits for our Waroona Renewable Energy Project. Having been assigned Certified Reserve Capacity and lodged the required Reserve Capacity Security, we now look forward to AEMO’s determination of Capacity Credits and Reserve Capacity Price, both of which will be released in late September. Wholesale electricity prices in Western Australia continue to increase, compared to both 2023 and the prices assumed in the Definitive Feasibility Study. Read more: https://loom.ly/CRRNgPQ

Firm commitments have been received for a $40m two-tranche institutional placement at $0.25 per New Share: https://loom.ly/ociFcQo Frontier Executive Director Grant Davey has committed to subscribe for 16m New Shares to raise $4m, the issue of which is subject to shareholder approval to be sought at the General Meeting. Our CEO Adam Kiley commented: “The timing and quantum of this capital raising was essential for the Company to ensure the development timeline towards first production remains on track for late 2026. "The Company aims to finalise the remaining funding solution in the coming months. The Company’s preference is for this to be a combination of debt financing, strategic partnering as well as other innovative solutions away from equity markets. All of these initiatives are progressed and the Company will provide updates in due course. "We would again like to thank both new and existing shareholders for their support through this Placement. The Company also intends to release details regarding an SPP in the coming days, to ensure all shareholders have the opportunity to participate on the same terms as the Placement."

Coverage of Frontier Energy and our appointment of former WA Premier Mark McGowan as Non-Executive Chairman in today's print edition of The West Australian 📰

Via Business News Australia Pty Ltd — Former WA Premier Mark McGowan to chair renewables developer Frontier Energy: https://loom.ly/KEbEJCE