13th Apr 2011 07:00
13 April 2011
Change of Broker
Frontier Mining Ltd (AIM: FML), the AIM quoted gold and copper exploration and development company focused on Kazakhstan, announces that it has today appointed Westhouse Securities Ltd and XCAP Securities plc as its joint brokers with immediate effect.
For further details please contact:
Frontier Mining Ltd
George Cole +44 (0) 20 7898 9019
Libertas Capital (Nomad)
Sandy Jamieson +44 (0) 20 7569 9650
Westhouse Securities Ltd (Joint Broker)
Dermot McKechnie +44 (0) 20 7601 6100
Matthew Johnson
XCAP Securities Plc (Joint Broker) +44 (0) 20 7101 7070
Jon Bellis
John Grant
David Newton
Walbrook PR
Bob Huxford (Media Enquiries) +44 (0) 20 7933 8783
Paul Cornelius (Investor Enquiries) +44 (0) 20 7933 8794
Notes to Editors
About Frontier Mining Ltd:
Frontier Mining Ltd. is a mineral exploration and development Company that is incorporated in the Cayman Islands 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 U.S. Megatech BVI which holds the Benkala licence, via KazCopper LLP. FML Kazakhstan is a wholly-owned subsidiary of Frontier Mining Ltd. Frontier also owns the Maminskoye gold deposit in the southern Ural region of Russia currently under exploration.
In Kazakhstan, Frontier has one producing gold mine, Koskuduk; and the Benkala copper mine, currently under development with initial production planned in 2011.
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 represents development 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 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 maintains an administrative and technical office in Almaty, the former capital city of Kazakhstan and the main business centre in the southeast. The Company also maintains offices in Semipalatinsk and Aktyubinsk, close to the Naimanjal and Benkala operations respectively.
Issued Share Capital
Frontier Mining's shares are traded on the AIM market of the London Stock Exchange.
Frontier has 1,860,913,973 ordinary shares issued.
For further information please visit: www.frontiermining.com.
Related Shares:
FML.L