UPDATE 1-Fronteer Gold posts Q1 profit on sale of Turkey units

* Q1 EPS C$0.08 vs loss/shr C$0.06 last year

* Shares up as much as 6 percent

May 12 (BestGrowthStock) – Fronteer Gold Inc (FRG.TO: ) posted a
first-quarter profit (Read more your timing to make a profit.) helped mainly by a gain from the sale of
two gold projects in Turkey to Alamos Gold Inc (AGI.TO: ),
sending its shares up as much as 6 percent.

Net income for the quarter was C$9.8 million, or 8 Canadian
cents a share, compared with a loss of C$5.5 million, or 6
Canadian cents a share a year ago.

Analysts on average were expecting the company to post a
loss of 1 cent, according to Thomson Reuters I/B/E/S.

Last year Alamos Gold Inc (AGI.TO: ) agreed to buy two gold
projects in Turkey from Fronteer and Teck Resources Ltd
(TCKb.TO: ) (TCK.N: ) in a cash-and-stock deal worth about $85
million. [ID:nBNG461115]

Fronteer Gold, which held 40 percent interest in the two
gold projects, Agi Dagi and Kirazli, gained C$18.4 million from
the sale.

Shares of the company, which have gained over 30 percent in
the last three months, were trading up 4 percent at C$6.24
Wednesday on the Toronto Stock Exchange.

Stock Analysis

(Reporting by Aftab Ahmed in Bangalore; Editing by Don
Sebastian)
([email protected]; within U.S. +1 646 223 8780;
outside U.S. +91 80 4135 5800; Reuters Messaging:
[email protected]))

UPDATE 1-Fronteer Gold posts Q1 profit on sale of Turkey units