Frontier Mining says completes 50 pct stake buy in Benkala project |
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Published
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Thu, 29 Nov 2007 11:00
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LONDON (Thomson Financial) - Frontier Mining Ltd said it has completed the acquisition of a 50 pct interest in a joint venture company with rights to the Benkala copper-molybdenum-gold deposit located in northwestern Kazakhstan.The Kazakhstan-focused gold mining and exploration company said it has issued 6.25 mln new shares and convertible notes worth 7.7 mln usd to the vendor, Coville Intercorp Ltd.The company also said it has raised 7.4 mln usd through a placing of 36.54 mln new shares at 10 pence each to fund its work capital requirement of Benkala programme and costs related to the acquisition and placing.TFN.newsdesk@thomson.comrda/salCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Frontier Mining says Kazakhstan government approves Benkala project subsoil use 