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Result of AGM

5th Sep 2011 11:26

RNS Number : 6193N
Frontier Mining Ltd
05 September 2011
 



 

5 September 2011

Frontier Mining Ltd

("Frontier" or the "Company")

 

Result of AGM

 

Frontier Mining Ltd (AIM: FML), the AIM quoted Kazakhstan copper and gold exploration and development company, announces that at its Annual General Meeting held today, all resolutions were duly passed.

For further details please contact:

 

Frontier Mining Ltd

 

George Cole

 

+44 (0) 20 7898 9019

 

Libertas Capital (NOMAD)

 

Westhouse Securities Ltd

(Joint Broker)

 

XCap Securities plc

(Joint Broker)

 

Sandy Jamieson

 

Dermot McKechnie

Matthew Johnson

 

John Bellis

John Grant

 

+44 (0) 20 7569 9650

 

+44 (0) 20 7601 6100

 

 

+44 (0) 20 7101 7070

 

Walbrook PR

Walbrook IR

Bob Huxford (Media Enquiries)

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.

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