Frontera Copper Corp.

Frontera Copper today announced that it has developed a refinancing plan to address its upcoming debt maturities and its general liquidity needs which will provide sufficient financial flexibility to realize the benefits associated with the improving business and mine operating environment. The Company intends to offer to exchange its outstanding 10% Senior Unsecured Notes due June 15, 2010 (the "Series 1 Notes") and [...]

Frontera Copper today announced that it received yesterday a formal default notice from CIBC Mellon Trust Company, the Trustee under the Indenture governing the Series 1 Senior Notes. The notice was received as a consequence of the Company's failure to make the December 15, 2009 interest payment on those Notes.

Frontera Copper today announced through its CEO Steve Vanry, that it is unable to make the interest payment due December 15, 2009, on its Series One (2010) Senior Notes. The Company's inability to make the payment is the result of a covenant contained in a Credit Agreement with its Mexican commercial banker.

Frontera Copper announced that as a consequence of continuing discussions with its Mexican commercial bankers the Company is currently unable to confirm that it will be able to pay the interest payment due on 15 December, 2009 with respect to its Series 1 June, 2010 Notes. The Company emphasised that meeting its obligations to noteholders is a matter of great importance to its board of directors. If the Company is [...]