3rd Aug 2011 10:35
Frontier Mining Ltd
("Frontier" or "the Company")
Director Shareholding
The Company was notified on 1 August 2011 of the following transactions.
That Randy Eppler, a Director of the Company, purchased 500,000 shares in Frontier on 29 July 2011 at a price of 4.49p. Mr Eppler is now interested in 1,000,000 ordinary shares representing 0.05 per cent of the Company's issued share capital.
That Greg Vojack a Director of the Company, acquired an indirect beneficial interest in 3,637,956 shares in Frontier on 29 July 2011. The shares were issued as consideration for services rendered to a third party entity. Mr Vojack is now interested in 28,000,000 ordinary shares representing 1.5 per cent of the Company's issued share capital.
That George Cole, a Director of the Company, acquired a direct beneficial interest in 1,500,000 shares in Frontier on 29 July 2011. The shares were issued to Mr Cole as consideration for services rendered to a separate third party entity. Mr Cole is now interested in 2,300,000 ordinary shares representing 0.12 per cent of the Company's issued share capital.
For further details please contact:
Frontier Mining Ltd |
George Cole |
+44 (0) 20 7898 9019
|
Libertas Capital (Nominated adviser)
Westhouse Securities Ltd (Joint Broker)
XCAP Securities plc (Joint Broker)
| Sandy Jamieson
Dermot McKechnie Matthew Johnson
John Bellis John Grant David Newton
| +44 (0) 20 7569 9650
+44 (0) 20 7601 6100
+44 (0) 20 7101 7070
|
Walbrook PR | Louise Mason | +44 (0) 20 7933 8792 |
Walbrook PR Walbrook IR | Bob Huxford Paul Cornelius (Investor Enquiries) | +44 (0) 20 7933 8783 +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.
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") completed by Wardell Armstrong International ("WAI") in June 2010, estimated the oxide section of the Benkala project, which represents development of only ~10% of the total resource at Benkala, to have a NPV of $190 million, based on 0.5% diluted copper grade, 63% recovery and 185,000 tons of contained metal at a 6,000 USD per tonne copper price. 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