PYX Resources: Achieving volume and diversification milestones. Watch the video here.
it was more a case of not knowing how to react and in denial tbh
:-)
on why the markets are reacting in this way considering the news went down well initially? atb
only have themselves to blame, why promise if it not going to happen, if there is a delay or teething problems just tell us.
this is disgusting, they say they are days away and weeks pass by and nothing.
damp squid
i'm dreading the same
through on possibility of an rns tomorrow
But what’s next? “The aim is to get into production”, says George, “and then this year to start expansion to
June 19, 2012 Frontier Mining Is Now Just Days Away From First Copper Production At Benkala By Alastair Ford “We haven’t produced our first copper yet”, says George Cole of Frontier Mining, “but we’re talking days. We’re mining and very very close to producing.” The latest official update from the company’s copper project in Kazakhstan was put out to market on 8th May and emphasised the successful ramp up of mining operations to a targeted 8,000 tonnes of ore per day. Mining at that rate will support a plant capable of producing 7,000 tonnes of copper per year, and which is likely to produce between 3,000 and 5,000 tonnes this year. “Obviously we’re hoping for the latter”, says George. Traditionally, a company’s share price will enjoy something of a re-rating when production starts, and although some companies have struggled to gain traction in the current depressed equities market, there’s no reason to suppose that Frontier won’t benefit from a further uptick when the first copper cathodes emerge from the plant in a few days time. Unlike most mining juniors this year, Frontier’s Aim-traded shares have been going up, not down, having risen from 2.6p in January to the current 4.925p, an increase of around 90 per cent. That’s not bad going in a depressed market, and shows that investors believe in the story, and like it. And why wouldn’t they? Copper is the one base metal that analysts are consistently bullish on. And Frontier’s London-listed peer Central Asia Metals has just underlined Kazakhstan’s attractiveness as a jurisdiction in which to produce copper with the successful commissioning of its Kounrad project in the south-west of the country. Benkala is some way away, up in the north west, but the key ingredients remain the same – copper that can be produced at good margin, and a strong local partner to smooth the way. In Central Asia’s case, a local investment consortium is currently converting its interest in Kounrad into equity in Central Asia itself. In Frontier’s case, all the key players, aside from George himself, are Kazakh. As chief financial officer, George runs the accounts. But the chief executive is Erlan Sagadiev, a Kazakh national who brought a cheque book of some considerable size with him when he rescued the company from the parlous state it had been left in by previous, non-Kazakh management a couple of years ago. He currently speaks for 23 per cent of the shares. The major shareholder, Coville Intercorp, with 46 per cent, is also based out of Kazakhstan, and brings considerable mining expertise to the table. “You can’t operate in this part of the world without a good local player”, says George. “And this company is 70 per cent owned by Kazakhs.” So far so good. London is a sophisticated market that likes companies to cut locals in
10,000 tonnes for 2013. As part of the original build a lot of the infrastructure for our expansion was put in place, and we’re fully funded to get the expansion up and running. The 7,000 tonne plant had a total cost of US$51 million, but it will take just US$6 million to go up to 10,000 tonnes. The only thing we really need to buy is the additional cells.” To support the expansion the company has acquired the South Benkala licence, which should proved another three or four years’ worth of oxide production into the Benkala plant, and plenty of sulphide too. Ultimately, says George, the plan is to move the Benkala operation up to a production rate of 20,000 tonnes of copper per year. Meanwhile, over at Baitemir in north-eastern Kazakhstan, the company is beginning to establish the viability of second deposit of note. “We’ve done quite an aggressive drill p
good luck everyone and all the best
we will be rich by the end of the week imo, if we talking days, bearing in mind that was said yesterday, gla dyor
wrong thread
£6,500 buy at end at 0.65