10th Mar 2009 16:17
10 March 2009 AIM: FML
Frontier Mining Ltd
("Frontier" or "the Company")
Mr. Erlan Sagadiev Appointed as Chief Executive Officer
Further to the announcement of 9 February 2009, Frontier is pleased to announce the appointment of Mr. Erlan Kenzhegalievich Sagadiev as Chief Executive Officer and Chairman of the Board of Frontier Mining Ltd.
Mr. Sagadiev is well respected as a capable and responsible developer of Kazakh businesses whose economic advice and insight is sought by both private business and government officials on a regular basis. He has extensive experience in the food, mining, oil & gas and education sectors as well as other entrepreneurial business activities.
Mr Sagadiev, 42, is, or has been within the previous five years, a director of the following companies:
Current Directorships Previous Directorships
University of Internal Business, Almaty, Kazakhstan Zere Group JSC, Kazakhstan
FoodMaster International, USA
Mr Sagadiev has confirmed that there is no further information to be disclosed in accordance with the requirements of Schedule Two (g) of the AIM Rules.
Brian Savage, exiting Chairman and Chief Executive Officer, of Frontier commented; "I am delighted that Erlan has accepted the position of CEO and joined the Board of Frontier as Chairman. Erlan has extensive experience and a thorough understanding of doing business in Kazakhstan, together with a proven ability to successfully manage and grow companies. I am confident that his appointment is a very positive development for Frontier."
Mr. Sagadiev commented "I am excited about the strategic opportunities for Frontier and am very keen to work alongside Coville Intercorp, our joint venture partner to develop the Benkala project."
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Enquiries:
|
Frontier Mining Ltd |
Tom Sinclair |
+44 (0)20 7898 9019 |
|
Parkgreen Communications |
Louise Goodeve |
+44 (0)20 7933 8780 |
|
Libertas Capital |
Sandy Jamieson |
+44 (0)20 7569 9695 |
About Frontier Mining Ltd:
Frontier Mining Ltd. is a mineral exploration and development Company that was incorporated in the state of Delaware, USA, on 5 August 1998 for the purpose of exploring and developing gold and copper deposits in the Republic of Kazakhstan. Through its subsidiaries and affiliates, Frontier locates, evaluates, acquires, explores and develops mineral properties
Frontier currently owns two licenses in Kazakhstan. They are the Naimanjal exploration and mining licence, held by FML Kazakhstan, and, 50% of U.S. Megatech BVI which holds the Benkala licence. FML Kazakhstan is a wholly-owned subsidiary of Frontier Mining Ltd. Frontier has one producing gold mine, Naimanjal; one pre-feasibility stage gold project, Koskuduk; and the recently acquired 50% interest in the Benkala copper mine.
Frontier also has a potential copper porphyry deposit with associated gold and molybdenum, Baitimir; and several copper/gold prospects along a 25-km trend including both VMS and porphyry types. Metallurgical tests on its Beschoku and Yubileiny copper projects confirm the oxide copper ore is amenable to extraction using low cost SX-EW technology.
Frontier owns a 50% interest in KazCopper LLP, the joint venture Company that owns the Benkala copper-molybdenum-gold deposit located in north-western Kazakhstan within the Urals gold/copper ore belt. A Competent Persons Report ("CPR") on the Benkala project completed by Wardell Armstrong International ("WAI") in March 2007 estimates 47.75 Mt at an average grade of 0.36% Cu for the oxide mineralization, and 873.75 Mt at an average grade of 0.30% Cu for the sulphide mineralisation, representing some 2.8 million tonnes of contained copper. A conceptual study team and advisory team have both been appointed to fast track the development of this project forward towards a pre- feasibility study, with a view to beginning production at the end of 2010.
Issued and Fully Diluted Ordinary Shares
Frontier Mining's shares are traded on the AIM market of the London Stock Exchange.
Frontier currently has 218,120,095 issued and 21,812,009 reserved and outstanding options giving 239,932,104 fully diluted ordinary shares.
For further information please visit; www.frontiermining.com
Related Shares:
FML.L