UTM has resolved to purchase the 100 % of the shares of the Company “Frontier Mining Limited Kazakhstan” (FMLK). FMLK is the sole holder of the exploitation soil rights of the particular parts of Naimanjal region, where the metal ores are located in interesting quantities. This acquisition represents a particular satisfaction and prospect of success for the future drillings in the region.
Our Ordinary General Meeting of Shareholders has decided today of nomination new Directors in the persons of Mrs Christian Tailleur (A Dir.) and Mrs Deborah Buffone (B Dir.). Moreover, the company TSM Services (Luxemburg) Sàrl has been nominated as a new “Commissaire au Comptes” of our Company. Our Office’s new address will be registered at 26-28, rue Edward Steichen, L-2540 Luxembourg.
At the beginning of the year, based on a 2013 Wardell-Armstrong Valuation report about a project located in the Naimanjal Licence Territory NE Kazakhstan, our Company has contracted with FML Kazakhstan for a huge investment aiming to develop and produce metal ore from Naymanzhalskoy zone in Pavlodar, Karaganda and East Kazakhstan regions of the Republic of Kazakhstan. It appears indeed that said regions contain interesting quantities of gold, copper, zinc, platinum, molybdenum and silver metal ores. This is particularly interesting for our Group, which will be its exclusive customer.
Our Company has been duly incorporated last November 28th, 2013. It is governed by the law of August 10th, 1915 of Luxemburg. Its constitution waives and traduces the importance of the company in the area of soil exploration of new territories. Indeed, its main (but not sole) purpose will aim the holding of participations in any foreign companies able to acquire, develop and promote all forms of ore prospection as well as their due commercialisation.