Tuesday 23 April, 2013

Financing Update

The Company has now received credit committee approval from Sberbank head office in Moscow.

The signed agreement provides KazCopper LLP (Frontier's wholly owned subsidiary) with a loan and credit facility to the value of US$17.9 million.

The new facility is for five years and comprises two components; a US$6 million increase in the Capital Investment Loan at in interest rate of 9% and a US$11.9 million increase in the Working Capital Credit Facility at an interest rate of 8.5%.

All conditions of the existing loan arrangements remain unchanged. Sberbank has provided Frontier with loan facilities since 2011. The additional loan brings the total amount of existing Sberbank facilities to US$52.9 million.



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