Business
Operational Update
Operational Update.
About this update from Altyngold Plc
[{"type":"text","content":"\n \nRNS Number : 3948K Hambledon Mining PLC 30 July 2013 \n \n\n30 July 2013\nHambledon Mining Plc\n(\"Hambledon\" or \"the Company\")\n \nActivities Report for the Second Quarter Ended 30 June 2013\n \nHambledon Mining plc (AIM: HMB), the gold mining and development group, today provides its operational update for the Sekisovskoye deposit for the three months to 30 June 2013. \nHighlights include:\n· The underground mine at Sekisovskoye became operational in mid-June 2013 - a key milestone in the Company's development - and had an average mined gold grade of over 4 grams per tonne. Notwithstanding the delays and problems experienced last year, the new management has managed to start underground mining on time and within budget.\n \n· Hambledon produced 7,589 ounces of gold during the second quarter of 2013. This represents a 30 per cent increase in production year on year and a circa. 50 per cent increase compared with the previous quarter.\n· Increased production has been driven by a nine per cent year on year increase in ore milled and a higher ore grade, sourced from the open pit mine and complemented by ore extracted from the underground mine.\n \n· Increase in gold grade was a function of both the rich underground ore grade as well as higher open pit grade, the latter being a result of the deeper mining operations nearing the high grade ore body. This high grade ore body is also the target, at varying depths, of the underground mining operations. \nAidar Assaubayev, CEO of Hambledon Mining commented: \n\"I am very pleased that the underground mining has started on time and within budget. I expect the underground mine development to transform Hambledon into a company with a strong and rising gold production profile as well as a competitive cost structure, creating significant value for shareholders even at the current gold price. We are committed to demonstrably enhancing the value of the Company's assets and further optimising operational and financial performance.\"\n Processing Plant and Underground Mine\nThe recovery rate at the processing plant was below target in May 2013 due to the high variability of gold grade in the feed ore. The recovery rate was restored from 76.5 per cent in May ...