Business
Interims; Resource update
Interims; Resource update.
About this update from Altyngold Plc
[{"type":"text","content":"\n Hambledon Mining PLC\n27 September 2006\n\n\n\n \n HAMBLEDON MINING PLC\n\n Interim results and resource estimate update\n\n(All references to '£' are to the British pound and 'ounces' are to troy ounces)\n\nHambledon Mining plc ('Hambledon' or the 'Group' or the 'Company'), the\nAIM-listed mining and exploration company developing precious metal deposits in\nKazakhstan, announces its interim results for the six months ended 30 June 2006.\n\nHighlights\n\n •£10.4 million raised in March.\n\n •42 per cent expansion in planned process plant capacity to 850,000 tonnes\n per year.\n\n •General Resource Estimate approved by Kazakh authorities in April.\n\n •Mining operations commenced in June with own mining fleet.\n\n •JORC resource estimate increased to 2.6 million ounces (88 per cent\n higher than the beginning of the period).\n\n •Mine plan now shows an initial mining reserve estimate of 226,700 ounces\n of mainly open pittable ore.\n\n •Work on the underground mine plan is continuing and significant reserve\n increases are expected as detailed design progresses.\n\n •162 staff now employed.\n\n •Construction of process plant underway.\n\n\nNicholas Bridgen, Chief Executive of Hambledon Mining plc, commented:\n\n\n'In reviewing the half year, we are very pleased with what has been achieved,\nwith good progress on all fronts. The JORC resource has almost doubled and as a\nresult we are building a bigger process plant and have decided that it is more\ncost effective to operate our own mining fleet. The approval of the General\nResource Estimate, which is the essential precursor of all other detailed\napprovals, was obtained and we are well on the way to recruiting our full\ncomplement of staff'\n\n'Since the end of the half year, we have completed the open pit mine plan and a\nplan for the development of the westerly Orebody 11 from underground and can now\nannounce initial mining reserves of 226,700 ounces.'\n\n\n\nNote to editors\n\nHambledon Mining plc is an AIM-listed mining and exploration company which is\nmining an open pit and stockpiling ore in readiness for completion of an 850,000\ntonnes per year treatment plant at its Sekisovskoye gold deposit in East\nKazakhstan. After the start of processing, the Company will start to develop the\nmuch larger underground resources.\n\nProduction from the open p...