23rd Apr 2008 07:00
Hambledon Mining PLC23 April 2008 HAMBLEDON MINING PLC (AIM: HMB) Sekisovskoye resumes full production Hambledon Mining plc ("Hambledon" or the "Group" or the "Company"), theAIM-listed gold mining and processing company operating in Kazakhstan, ispleased to report that the replacement boiler at the processing plant atSekisovskoye has now been installed and gold production has been resumed. The entire elution system has been redesigned, installed and commissioned withthe help of specialist boiler consultants. During the shut-down, the Companyarranged for independent industrial health and safety consultants to reviewevery aspect of the Sekisovskoye processing plant and, apart from some minordocumentary issues that have now been rectified, no deficiencies were reported. All previously experienced commissioning problems, which principally concernedperipheral crushing equipment, have been rectified and a stockpile of some13,000 tonnes of crushed ore has been accumulated. A further stockpile ofapproximately 137,000 tonnes of ore remains from before the closure. Due to a much higher than normal content of clay-like material in the ore, whichtends to clog the sizing screens, the decision has been taken to crush to aslightly larger size than planned. This is a short term problem that should notcontinue as the mine deepens, but will result in temporarily lower throughputthrough the main ball-mills. The impact on operations is difficult to forecastprecisely but, in the absence of any further commissioning problems, it isexpected that production during the next two months will be approximately 80% ofthe production rate of 40,000 ounces per annum expected thereafter. Mining operations are expected to re-start in May. At this time, the miningfleet will be augmented with an additional Atlas Copco L7 blast hole drill-rigand a Hitachi Zaxis 200 excavator fitted with a Montabert 900 rock-breaker. The Company is continuing negotiations with its bankers for stand-by finance incase it should be needed, whilst closely monitoring its cash and fundingposition. Nick Bridgen, Chief Executive of Hambledon, said: "This has been a challenging period for the Company but all the issues have beenresolved and we are now looking forward to a sustained period of operating. "We expect to make the first gold sales very soon and look forward to updatingthe market on further progress." 22 April 2008 Enquiries Hambledon Mining plc Telephone: +44 7791 327 180Nick Bridgen Bankside Consultants Telephone: +44 20 7367 8888Michael Padley / Louise Davis Seymour Pierce Telephone: +44 20 7107 8000Nicola Marrin Note to editors Hambledon Mining plc is an AIM-listed gold mining and exploration company, whichis operating the Sekisovskoye gold mine and the Ognevka processing plant, bothof which are close to Ust Kamenogorsk in East Kazakhstan. At Sekisovskoye, the Company is mining from an open pit and has constructed an850,000 tonnes per year treatment plant. Production from the open pit willaverage over 40,000 ounces per annum. As soon as steady production has beenachieved, the Company plans to develop the much larger underground resource thatis expected to lead to a combined production rate of around 100,000 ounces peryear. The Ognevka processing plant is producing concentrates containing gold, silver,copper, iron and coke from the re-treatment of zinc smelter residues. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Altyngold