Business
Acquisition
Acquisition.
About this update from Altyngold Plc
[{"type":"text","content":"\n \n \n Acquisition\n \n \n\n \n Hambledon Mining PLC\n \n \n\n \n \n \n Hambledon Mining plc\n \n \n Acquisition of Akmola Gold LLP\n \n \n Hambledon Mining plc (“Hambledon Mining†or “Companyâ€)(AIM: HMB), the \n Kazakhstan gold mining and development company, today announces that it \n has entered into anagreement for the purchase of 100% of Akmola Gold LLP \n (“Akmola Goldâ€), subject to certain government waivers and consents. The \n vendors are Central Asian Gold Corporation and Mr Yerkin Sadykov, who \n each have a beneficial interest of 50% in Akmola Gold.\n \n \n Highlights\n \n \n \n Acquisition of two wholly owned precious metals projects, Tellur and \n Stepok, both situated in central Kazakhstan, some 140 km North of \n Astana;\n \n \n Combined resources of some 440,000 ounces of gold plus silver and \n other metals, with considerable up-side potential after further \n drilling;\n \n \n Total consideration is US$5 million, payable fifty per cent in cash \n and fifty per cent. in ordinary shares of the Company;\n \n \n Tellur is an underground mine with a resource totaling over 140,000 \n ounces of gold at an average grade of over 17 g/t and is expected to \n be in production before the end of Q2 2013;\n \n \n Stepok is an advanced exploration project with estimated resources of \n some 300,000 ounces of gold together with significant quantities of \n copper, lead and zinc.\n \n \n Appointment of considerable expertise in the form of Steve Wilson and \n Mathew Allen, two senior technical and planning staff.\n \n \n \n Tim Daffern, CEO of Hambledon said “the new acquisitions fit well \n with Sekisovskoye. Taken together with the ongoing development of \n the underground mine at Sekisovskoye, the Group is now poised to become \n a growing gold producer with diversified production from more than one \n mine. Gold production is expected to rise progressively over the next \n five years. With our new appointments, we are putting in place the \n skills we need for the development of our expanding group.â€\n \n \n Akmola Gold holds the subsoil-use rights for two wholly owned \n projects in Central Kazakhstan, known as Tellur and Stepok, together \n containing around 440,000 ounces of gold resources, along with \n potentially significant credits from copper, lead and zinc. The \n acquisition is subject to the go...