26.01.2015, 20:48
FRONTIER MINING LTD. reported halting operations on Benkala field
OREANDA-NEWS. FRONTIER MINING LTD. (Cayman Islands), whose shares are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following information statement:
"...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".
"...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".
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