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Board Appointment

7 Feb 2011 07:00

RNS Number : 7086A
Frontier Mining Ltd
07 February 2011
 



 

 

Frontier Mining Ltd

("Frontier", the "Company" or "FML")

Board Appointment

 

Frontier Mining Ltd (AIM: FML), the AIM listed gold and copper exploration and development company focused on Kazakhstan, is pleased to announce the appointment of Greg Vojack to the Board of Directors as a non executive director.

 

Mr. Vojack serves as a Senior Partner with VSB Partners LLP, and brings with him wide-ranging legal experience as well as extensive experience of working in Kazakhstan, where he has been resident for the past 16 years. Mr. Vojack has represented, Kazakmys, Chevron, KazMunaiGas, Kazatomprom, Central Asia Gold, JP Morgan, Goldman Sachs, Citibank, Deutsche Bank and Eurasian Development Bank of Kazakhstan. He also has considerable experience in helping bring corporate governance changes to many joint-stock companies in Kazakhstan.

 

He moved to Kazakhstan in 1994 when he opened the Kazakh office of Bracewell & Giuliani LLP, a practice he managed until December 31, 2010. The initial practice was funded by the US Government and World Bank, and was focused on advising the Kazakhstan Government on developing laws on securities, banks, and joint stock companies. After a period of advising the Government his practice turned to the private sector. He was issuers counsel for the first Eurobond issued by a non-bank (KazTransOil) in 2000 and thereafter his practice was the leading issuers counsel in Kazakhstan. His work in helping to develop corporate governance good practices was recognised by the President's Foreign Investor Counsel in 2009.

 

He resides in Almaty, Kazakhstan, with his wife and two children and is an active member of the Almaty investor and financial community.

 

Erlan Sagadiev, CEO of Frontier Mining, commented: "Greg Vojack is one of the most prominent international legal advisors in Kazakhstan. He has successfully helped the largest local and international companies operating in Kazakhstan. Bringing Greg onto the board of FML is an important step in strengthening the board and towards making FML a world class company."

 

Commenting on his appointment, Greg Vojack said: "Frontier is in a fantastic position to exploit the potential that Kazakhstan has to offer. I am excited about joining a Company that has strong opportunities for growth, and I am confident that my experience in the country, and in advising other mining companies, will be of help to Frontier."

 

Mr Gregory John Vojack, aged 60 holds the following board positions:-

 

·; Member of the Board of International Advisors of the Regional Financial Center Almaty

·; Member of the Board of Directors Regional Financial Center Almaty Academy

·; Member of the Legal Working Group President of Kazakhstan's International Investors Counsel

·; International Member of Academy of Social Sciences of Kazakhstan

Mr Vojack has an indirect beneficial interest through his family in 24,362,044 ordinary shares of $0.01 each in the Company, although he has no direct or indirect control over these shares. There is no further information to be disclosed under schedule 2(g) and Rule 17 of the AIM Rules in respect of Mr Vojack's appointment today as a non-executive director of the Company.

For further details please contact:

Frontier Mining Ltd

George Cole

+44 (0) 20 7898 9019

Libertas Capital

Sandy Jamieson

+44 (0) 20 7569 9650

Walbrook PR

Walbrook IR

Bob Huxford

Paul Cornelius

+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, 50% of U.S. Megatech BVI which holds the Benkala licence, via KazCopper LLP. FML Kazakhstan is a wholly-owned subsidiary of Frontier Mining Ltd. Frontier has one producing gold mine, Koskuduk; and a 50% interest in the Benkala copper mine, currently under development with initial production planned in 2011.

A Competent Persons Report ("CPR") valuation report on the oxide section of the Benkala project completed by Wardell Armstrong International ("WAI") in June 2010 has resulted in an NPV of $190 million based on 0.5% diluted copper grade, 63% recovery and 185 000 ton of contained metal and 6,000 USD per tonne copper price. The oxide copper project represents development of approximately 10% of the total resource at Benkala and 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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