Business
Interim Results
Interim Results.
About this update from Altyngold Plc
[{"type":"text","content":"\n \nRNS Number : 5706O Hambledon Mining PLC 23 September 2013 \n \n\n23 September 2013\n \nHAMBLEDON MINING PLC\n('Hambledon' or the 'Company')\n \nInterim Results for the six months ended 30 June 2013\n \nHambledon Mining Plc, the AIM quoted gold mining and development group, announces its unaudited results for the six months to 30 June 2013.\n \nHighlights in the period:\n \n· 18 per cent increase in gold production. The Sekisovskoye mine produced 12,673 ounces of gold in the first half of 2013 (10,710 ounces in the first half of 2012)\n \n· Average gold grade milled 1.45 grammes per tonne (2012; 1.30 grammes per tonne) . Total ore milled was 329,104 tonnes compared with 325,236 tonnes in the prior year.\n \n· Gold recovery rate at the processing plant improved to 82.8 per cent (2012; 78.6 per cent) \n \n· The underground mine at Sekisovskoye became operational in mid-June 2013 - a key milestone in the Company's development. \n \no 690 maiden gold ounces were produced during the period at average grade of 4.04 grammes per tonne \no Underground mining continues to accelerate according to plan and within budget, with 1,187 ounces of gold produced from the underground mine in August at an average grade of 4 grammes per tonne\n \n· 16 per cent reduction in cash cost to US$1,055 per ounce including royalty payments (2012; US$1,262 per ounce) \n \n· Revenue of US$20 million (2012; US$18.2 million), reflecting increased production and decline in the selling price of gold\n \n· Successful appeal to the Supreme Court of Kazakhstan, which issued a direction to the lower courts in August 2013 to re-examine the level of fines in relation to the Tailings Dam 3 incident. The Board is optimistic about the outcome and is awaiting the final decision of the courts\n \n· Repayment terms for the return of US$2 million agreed with the vendors of Akmola Gold during the period and the Company expects to recover funds in December 2013\n \n \nAidar Assaubayev, CEO of Hambledon Mining, said:\n \n\"Following the re...