Gold Production Commences
Hambledon Mining PLC
19 December 2007
PRESS INFORMATION 19 December 2007
HAMBLEDON MINING PLC
(AIM:HMB)
Gold production commences at Sekisovskoye
Hambledon Mining plc ('Hambledon' or the 'Group' or the 'Company'), the
AIM-listed gold mining and processing company operating in Kazakhstan, is
pleased to announce that production has started at its Sekisovskoye gold
project.
The first gold pour will take place on 26th December in the presence of the Akim
of the East Kazakhstan oblast and the Akims of the Glubokoye and Sekisovskoye
regions. The event will be televised by 'Habar', 'VKTV' and '31' channels.
Representatives of the Government of Kazakhstan will also attend.
After a bedding-in period, gold production is expected to be at an annualised
rate of 40,000 oz per year increasing to 100,000 oz per year when higher grade
underground ore is processed. Over 145,000 tonnes of ore grading 1.46 g/t Au
have already been stockpiled in readiness for the start-up.
Nick Bridgen, Chief Executive, commented:
'Hambledon is now a production company with both the Ognevka treatment plant and
the Sekisovskoye gold mine in operation.
'At both sites we have the potential to increase production significantly over
the next couple of years. We are 100% equity financed and look forward to strong
and rising cash flows.'
Enquiries
Hambledon Mining plc
Nicholas Bridgen, Chief Executive Telephone: +44 7791 327180
+7 701 733 8915
Bankside Consultants
Michael Padley / Louise Davis Telephone: +4420 7367 8888
Seymour Pierce
Nicola Marrin Telephone: +4420 7107 8018
Note to editors
Hambledon Mining plc is an AIM-listed gold mining and exploration company which
is operating the Sekisovskoye gold mine and the Ognevka processing plant, both
of which are close to Ust Kamenogorsk in East Kazakhstan.
At Sekisovskoye, the Company is mining from an open pit and has constructed an
850,000 tonnes per year treatment plant. Production from the open pit will
average over 40,000 ounces per annum. After the start of open pit processing,
the Company plans to develop the much larger underground resource that is
expected to lead to a combined production rate of around 100,000 ounces per
year.
The Ognevka processing plant is producing concentrates containing gold, silver,
copper, iron and coke from the re-treatment of zinc smelter residues.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange