5th Nov 2010 12:11
Hambledon Mining plc
(the "Company" or "Hambledon")
05 November 2010
Director's Purchase of Shares
Hambledon announces that Tim Daffern, who commenced his role as Chief Executive Officer of the Company on 05 November 2010, notified the Company on 05 November 2010 that on 04 November 2010 he had purchased 50,000 thousand ordinary shares of 0.1p each in the Company ("Ordinary Shares") at a price of 5.7p per share.
Following this share purchase his beneficial interest is as follows:
| No. of Ordinary Shares | Percentage of issued Ordinary Share capital | ||||
| Tim Daffern | Fifty thousand (50,000) | 0.01% |
Tim Daffern CEO stated 'I am pleased to be now actively engaged in the development of Hambledon. From a platform of strong cash generation we can now proceed to maximise the potential of the project.
We will carry out an optimisation programme aimed at cost reduction, enhancing the process plant recoveries and delivering consistent quarterly performance. This will maximise cash flows for the development of the underground operations.
At Sekisovskoye, we have mineable ore reserves [JORC] which total 4.68Mt at 2.57 g/t Au [Annual Report 2009], and an overall Indicated geological resource [JORC] of 12.92Mt at 2.1 g/t Au [Annual Report 2009]. These are substantial and provide an exciting opportunity to fund Hambledon's development of other gold assets in Kazakhstan.'
ENQUIRIES:
HAMBLEDON MINING:
Telephone +44 (0)207 233 1462Charles Zorab
FAIRFAX I.S. PLC:(Nominated Adviser and Broker)Telephone +44 (0)207 598 5368Ewan Leggat
Copyright Business Wire 2010
Related Shares:
Altyngold