Substantial Progress Achieved2 Feb 2011 08:39
DJ Frontier Mining: Substantial Progress Achieved On All Projects
LONDON (Dow Jones)--Frontier Mining Ltd (FML.LN), a gold and copper exploration and development company focused on Kazakhstan, said Wednesday that substantial progress was achieved on all the Company's projects with Benkala in particular having accomplished several key milestones during the year.
MAIN FACTS:
-Ensuring initial production occurs on schedule at Benkala in 2011 remains the Company's primary focus.
-Confident Baitemir substantial asset with over 500,000 tons of copper at economic grades
-Initial JORC statement on Benkala issued
-Frontier remains on schedule to commission Benkala with first production anticipated for September.
-The production target for Benkala in 2011 has been set at 3,000 tons of LME grade copper with increasing targets of 7,000 tons in 2012, and 20,000 tons in 2013.
-Shares closed Tuesday at GBP0.08, valuing the company at GBP144.22 million.
-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; razak.baba@dowjones.com
(END) Dow Jones Newswires
February 02, 2011 02:28 ET (07:28 GMT)
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