Frontier Mining Ltd

Frontier has sold Maminskoye gold deposit for $37.45 million in cash to Stanhigh Limited of Cyprus ("Stanhigh"). Located in the Southern Ural mountain chain region, the asset has a current Russian Federation Certified C1 & C2 resource of 27,177 kilos of gold. Maminskoye was acquired in 2010 when Frontier merged asset portfolios with Coville Interco... rp Ltd (Coville), in a deal to unify ownership of the Benkala copper project. Options for development of the gold deposit have been explored and Frontier have been approached by several qualified parties. Given the location of the property, the development capital required to convert the resource and property into a financeable project, Frontier's strategic focus on Kazakhstan and commitment to developing Benkala; the Board and management believe this sale to be an excellent opportunity to realise a return on investment and to secure the immediate aims of the Company.Read More