FML11 Apr 2011 08:34
Frontier Mining Ltd
("Frontier" or the "Company")
Frontier Completes Acquisition of Coville
Frontier Mining Ltd (AIM: FML), the AIM listed gold and copper exploration and development company focused on Kazakhstan, is pleased to announce that it has received written and final approval from both the Ministry of Industry and Trade of Kazakhstan (the "MIT" or the "Ministry") and the Inter-Ministerial Committee (the "IMC") to complete the acquisition of Coville Intercorp Ltd's ("Coville") 50% interest in the Benkala copper project (the "Acquisition"). With this approval the acquisition of Coville is now complete.
Both Frontier and Coville, which have already been operating as a single unit, will now be able to move forward toward successfully completing their integration. Coville's shares, which have been held in escrow pending completion of the acquisition, will now be released and are subject to a 12 month holding period. Coville holds 873,215,000 ordinary shares in Frontier representing 46.9% of the issued share capital of Frontier.