Frontier Rare Earths Limited Quarterly Results
15.08.2011 | Marketwire
TORONTO, Aug. 15, 2011 - Frontier Rare Earths Limited (TSX: FRO) (TSX: FRO.WT) ("Frontier") is pleased to advise that its financial statements and management discussion and analysis for the three months to June 30, 2011 have been filed on SEDAR today.For more information visit www.sedar.com or visit the company's website www.frontierrareearths.com
About Frontier Rare Earths Limited (TSX:FRO) (TSX:FRO.WT)
Frontier Rare Earths Limited (www.frontierrareearths.com) is a mineral exploration and development company exclusively focused on the development of rare earths projects in Southern Africa. Frontier's flagship asset is the Zandkopsdrift rare earth project (95% economic interest held), which is located in the Northern Cape Province of South Africa and is one of the largest undeveloped rare earth deposits worldwide. After Molycorp's Mountain Pass and Lynas' Mount Weld projects, the Zandkopsdrift B Zone has the highest TREO(1) grade and the highest grade of high value HREOs(2) of significant advanced deposits(3) outside China. Zandkopsdrift's favourable location is expected to provide significant advantages in relation to capital costs, operating costs and development time compared to other rare earth projects currently being evaluated, and makes Frontier well positioned to become one of the most significant new producers of rare earths outside China.
Frontier filed a NI 43-101 report on Zandkopsdrift on 29 October 2010, which included a resource estimate of circa 43m tonnes at an average grade of 2.2% containing 950,000 tonnes TREO applying a 1% cut-off, of which 56% is in the Indicated Resource category. Frontier is well funded with approximately CAD$48m cash and no debt and this strong working capital position will finance the proposed work programme of the Company and the expected completion of a Preliminary Economic Assessment, Preliminary Feasibility Study and Definitive Feasibility Study on Zandkopsdrift by the end of 2012. Frontier listed on the main board of the Toronto Stock Exchange in November 2010 and currently has 89,562,781 shares outstanding.
Notes:
(1) TREO = total rare earth oxides and includes the elements lanthanum to lutetium expressed as trivalent oxides
(2) HREOs = heavy rare earth oxides; high value HREOs are Europium, Terbium and Dysprosium
(3) Significant advanced deposits are those with >200,000 tonnes TREO classified under SAMREC, JORC, CIM or equivalent international codes
Contact Information
Frontier Rare Earths Limited
James Kenny, CEO
+352 208 80249
IR@frontierrareearths.com
www.frontierrareearths.com