28th Oct 2014 09:15
LONDON (Alliance News) - Frontier Resources International PLC shares rose in early trade on Tuesday after the company said it is in active discussions with potential joint venture partners on its projects and said it was seeing encouraging interest in the industry.
Frontier said it was actively engaged in seeking industry partners for its Oman, Namibia and Zambia operations and has created online data rooms for the two African prospects, while providing data on Oman from its Houston, Texas office.
The company said more than 15 companies have so far signed the Oman confidentiality agreement, with several coming to its data room in Houston.
"Following our successful work programs to date, we are now actively looking for suitably qualified co-venturers to join Frontier in the next phase of exploration on each of our projects. The level of interest shown by industry has been very encouraging and we will update shareholders in due course," said Frontier Chief Executive Officer Jack Keyes.
Frontier shares were up 17% on the news to 1.46 pence, making it one of the best performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
FRI.L