Frontier Mining well position for 2009 - CEO

mineral resources

Frontier Mining well position for 2009 - CEO

By SRI ⋅ July 1, 2009 ⋅

(SRI) - Kazakhstan-focused Frontier Mining Ltd said it is confident that 2009 the company should see significant growth as the gold and silver production at its Naimanjal project has begun and the group has access to a $14-million financing facility.

In 2008, Frontier reported a loss of $5.01 million, down from $4.31 million the previous year.

However, according to Frontier’s chairman and CEO Erlan Sagadiev, following a challenging year in 2008 the company has emerged in a much better shape in 2009 and is well positioned to progress the Benkala copper deposit and continue production and further development of the Naimanjal complex.

Frontier plans to produce 6,000 ounces gold and 60,000 ounces silver in 2009, and 15,000 ounces gold and 150,000 ounces silver in 2010 at the Naimanjal complex.

The company also plans to progress towards full feasibility, production and near term cash flow by early 2011 the Benkala project. The project is managed by an equal joint venture, KazCopper, of Frontier and Coville Intercorp.