Frontier Mining Ltd, the AIM listed gold and copper exploration and development company focused on Kazakhstan, has today provided an operational update for the year ended 31 December 2010. Substantial progress was achieved on all the Company’s projects with Benkala in particular having accomplished several key milestones during the year. Ensuring initial production occurs on schedule at Benkala in 2011 remains the Company’s primary focus.
- Shareholder approval obtained for re-domicile and asset acquisition from Coville Intercorp
- Appointment of Randy Eppler as non-executive director
- Completed equity raise of $6m and secured initial $4m HSBC loan facility
- Koskuduk constructed and operational within first 7 months of 2010
- Confident Baitemir substantial asset with over 500,000 tons of copper at economic grades
- Initial JORC statement on Benkala issued
- Benkala copper production targets of 3,000 tons in 2011, 7,000 in 2012 and 20,000 in 2013