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Director/PDMR Shareholding

3 Aug 2011 10:35

RNS Number : 6554L
Frontier Mining Ltd
03 August 2011
 



 

 

Frontier Mining Ltd

("Frontier" or "the Company")

Director Shareholding

 

The Company was notified on 1 August 2011 of the following transactions.

That Randy Eppler, a Director of the Company, purchased 500,000 shares in Frontier on 29 July 2011 at a price of 4.49p. Mr Eppler is now interested in 1,000,000 ordinary shares representing 0.05 per cent of the Company's issued share capital.

That Greg Vojack a Director of the Company, acquired an indirect beneficial interest in 3,637,956 shares in Frontier on 29 July 2011. The shares were issued as consideration for services rendered to a third party entity. Mr Vojack is now interested in 28,000,000 ordinary shares representing 1.5 per cent of the Company's issued share capital.

That George Cole, a Director of the Company, acquired a direct beneficial interest in 1,500,000 shares in Frontier on 29 July 2011. The shares were issued to Mr Cole as consideration for services rendered to a separate third party entity. Mr Cole is now interested in 2,300,000 ordinary shares representing 0.12 per cent of the Company's issued share capital.

 

For further details please contact:

 

Frontier Mining Ltd

 

George Cole

 

+44 (0) 20 7898 9019

 

Libertas Capital

(Nominated adviser)

 

 

Westhouse Securities Ltd

(Joint Broker)

 

XCAP Securities plc

(Joint Broker)

 

Sandy Jamieson

 

 

 

Dermot McKechnie

Matthew Johnson

 

John Bellis

John Grant

David Newton

 

+44 (0) 20 7569 9650

 

 

 

+44 (0) 20 7601 6100

 

 

+44 (0) 20 7101 7070

 

Walbrook PR

Louise Mason

+44 (0) 20 7933 8792

Walbrook PR

Walbrook IR

Bob Huxford

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.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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