5th Sep 2011 11:26
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.
Related Shares:
FML.L