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23 Jan 2015 09:17
FRONTIER MINING LTD
("Frontier" or "the Company")
Operations and Corporate Update
Frontier Mining Limited (AIM:FML), the AIM listed copper production, exploration and development company focused on Kazakhstan, announces that operations at the Benkala copper mine were closed for the winter months on 18 January 2015. A total of 1,276 tonnes of copper cathode was sold in the 12 month period to 31 December 2014. Lower levels of production in the latter part of last year have meant that copper sales have been unsufficient to cover production costs.
The winter closing allows the Company, which continues to be cash constrained, to conserve capital as discussions continue with various parties to enter into a partnership agreement with Frontier for its Benkala project. During 2015, Frontier plans to restructure its existing debt facilities and secure a new investor to enable the Company to increase copper cathode production levels at Benkala.
-ENDS-
Frontier Mining Ltd | |
Yerlan Minavar | Tel: +44 20 7898 9019
|
Nomad | |
Cairn Financial Advisers LLP | |
Sandy Jamieson | Tel: +44 20 7148 7900
|
Broker | |
RFC Ambrian | |
John Harrison Stefan Murphy
| Tel: +44 20 3440 6800 |
Walbrook PR and IR | |
Paul Cornelius | Tel: +44 20 7933 8780 |
Guy McDougall |
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