Fronteer Development Group: Up 7% today

Good news today when the company announced a 53% increase over last years estimate at the Agi Dagi and Kirazli deposits in Turkey, which is improving as a gold investment.

The new combined resource estimate is now up to 1.5 million ounces of gold with 9.1 million ounces of silver (measured + indicated), when inferred resources are included the overall gold equivalent resource is 3.5 million ounces. Dr Mark O’Dea says the deposits are still growing and are located at or near the surface, which will help to keep the mining costs fairly low.

Aurora Energy Resources have recently commenced a major drilling programme, which has helped to push their stock price higher today, and as Fronteer owns almost half of Aurora then they benefit from any good news emanating from Aurora.

Fronteer is now a gold investment with a uranium kicker and I guess we should transfer this stock to the Gold-prices web site but as it started life on this web site we will keep here.