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Appointment of non-executive director

25th Nov 2010 07:00

RNS Number : 7776W
Frontier Mining Ltd
25 November 2010
 



 

 

 

25 November 2010

 

Frontier Mining Ltd

("Frontier" or the "Company")

 

Appointment of non-executive director

 

Frontier Mining Ltd (AIM: FML), the gold and copper exploration and development company focussed on Kazakhstan, announces the appointment of William Durand Randy Eppler as a non-executive director. The appointment will take place with immediate effect.

 

Mr. Eppler has over 30 years' experience in the natural resources industry and serves as a Partner of Sierra Partners, LLC, a private investment and advisory firm he founded in 2004 which has an exclusive focus on mining, oil and gas, and energy resource industries with broad international experience.

 

From June 2005 until August 2008, Mr. Eppler was President and CEO of Coal International plc, an international coal mining and development company.

 

From 1995 to 2004, Mr. Eppler held various positions with Newmont Mining Corporation, the world's second largest gold producer, and its subsidiaries, including Vice President of Newmont Capital, Ltd., Vice President, Corporate Development of Newmont Mining Corporation, President of Newmont Indonesia, and Vice President, Corporate Planning of Newmont Mining Corporation.

 

Prior to joining Newmont, Mr. Eppler served for 10 years as Managing Director of the Metals & Mining division, for Chemical Securities, Inc., a subsidiary of Chemical Bank (now JPMorgan Chase), where he was responsible for relationship management, technical support, corporate finance services, credit marketing and transaction execution for globally traded ferrous, non-ferrous, precious, industrial and energy minerals companies.

 

In addition to his corporate roles Mr. Eppler has spent over 30 years as a member of the Society of Mining Engineers of A.I.M.E. and has served on the Global Leadership Council at the College of Business, Colorado State University, since 2001. He also served as Vice President United States-Ghana Economic Council, 2003 to 2004.

 

Erlan Sagadiev, CEO of Frontier Mining, commented on the appointment: "We have known Randy for quite some time and are delighted to welcome him on to the Board of Frontier Mining. He brings with him a wealth of mining experience and in-depth industry knowledge. We are also confident that Randy's skills, developed during his time at Newmont, will encourage the highest standards of corporate governance and operational excellence at Frontier."

Commenting on his appointment, Randy Eppler said: "I'm delighted to be joining Frontier as the Company looks to fully exploit its considerable resources. With solid foundations in place there is an excellent opportunity to grow the Company and I greatly look forward to contributing to that growth."

 

Mr W. Durand "Randy" Eppler, aged 57, currently holds Board positions with Vista Gold Company (AMEX, TSE), Augusta Resource Corp. (AMEX, TSE) and Golden Minerals Company (AMEX, TSE). Mr Eppler has also held prior Board appointments with Equity Oil Company, LIHIR Gold Corporation, Coal International, NEMI: Northern Energy & Mining Inc., and Allied Nevada Gold Corp.. He does not hold any shares in the Company. There is no further information to be disclosed under schedule 2(g) and Rule 17 of the AIM Rules in respect of Mr Eppler's appointment today as a non-executive director of the Company.

 

 

For further details please contact:

 

Frontier Mining Ltd

George Cole

+44 (0) 20 7898 9019

Libertas Capital

Sandy Jamieson

+44 (0) 20 7569 9695

Walbrook PR

Bob Huxford

+44 (0) 20 7933 8780

 

 

Notes to Editors

 

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.

 

The Company announced on 18 October its intention to re-domicile the holding company of the Group from Delaware, USA to the Cayman Islands (the "Re-domicile") and the proposed acquisition of interests in the Benkala copper deposit in northern Kazakhstan currently under development (the "Benkala Copper Project") and the Maminksaya gold deposit in the southern Ural region of Russia currently under exploration (the "Maminksaya Gold Project") (the "Asset Acquisition"). The Proposals were duly passed by shareholders in a Special Meeting held on 8 November 2010.

 

On the Re-domicile becoming effective, each outstanding ordinary share of the Company will be converted into and represent the right to receive one share in the new Cayman Company ("FML (Cayman)") save that each outstanding ordinary share of the Company whose holder is not an "accredited investor", as such term is defined in Rule 501 of Regulation D promulgated under the United States Securities Act, will be converted into and represent the right to receive a cash payment in U.S. Dollars. The shares of the Company will then be admitted to trading on AIM. Upon the Re-domicile becoming effective, ordinary shares in the Company will be cancelled, resulting in the respective holdings of shareholders in the FML (Cayman) (excluding holders who are not "accredited investors") being the same as the respective holdings of shareholders in the Company immediately prior to the Merger becoming effective.

 

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") valuation report on the oxide section of the Benkala project completed by Wardell Armstrong International ("WAI") in June 2010 has resulted in an NPV of $190 million based on 0.5% diluted copper grade, 63% recovery and 185 000 ton of contained metal and 6,000 USD per tonne copper price. The oxide copper project representsdevelopment of approximately 10% of the total resource at Benkala and Frontier will use the production platform of the SX-EW project to finance further evaluation and technical studies required to advance development of the significant Benkala sulphide resource.

 

Frontier maintains an administrative office in Almaty, the former capital city of Kazakhstan and the main business centre in the southeast. The Company also maintains an office in Semipalatinsk, close to the Naimanjal operations, which is the base for all exploration and development personnel with additional administrative support for exploration. Semipalatinsk is 830 kilometres north of Almaty, connected by regular commercial airline services.

 

Issued Share Capital

Frontier Mining's shares are traded on the AIM market of the London Stock Exchange.

Frontier has 917,336,206 ordinary shares issued.

 

For further information please visit; www.frontiermining.com

 

 

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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