Business
Project Update
Project Update.
About this update from Altyngold Plc
[{"type":"text","content":"\n Hambledon Mining PLC\n30 November 2006\n\n\n\n HAMBLEDON MINING PLC\n\n Recent progress\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'), an\nAIM-listed mining and exploration company developing precious metal deposits in\nKazakhstan, reports progress on its Sekisovskoye project.\n\n\nHighlights\n\n •Mining activities in the year to date have been more than double the\n planned rate.\n\n •Initial ore stockpiles for process plant commissioning have been\n established.\n\n •Foundations for the mill building, warehouse and major equipment (ball\n mills, leach tanks, crushers) have been completed.\n\n •Construction of mill building well advanced with all materials on site.\n Construction of main arches of warehouse completed.\n\n •All major equipment has been procured and some 90% of contracts for final\n construction let.\n\n •110 kV powerline and substation nearing completion three months ahead of\n schedule.\n\n •Excavation of the 'starter' tailings dam nearing completion and\n geomembrane liner received at site.\n\n •Start of commissioning of process plant on schedule for the second\n quarter 2007.\n\n •Diamec diamond drill rig previously used underground has been modified\n for surface use; drilling with this unit commenced at Tserkovka in October\n and will continue throughout the winter.\n\n\nNicholas Bridgen, Chief Executive of Hambledon Mining plc, commented:\n\n'As a result of the skilled local workforce and better than expected\nproductivity of the equipment, mining operations have exceeded all our\nexpectations. We have now shifted all the site earthworks to our own mining team\nwhich will reduce the costs significantly.\n\n'Progress to date is ahead of schedule and we remain on course towards start-up\nof the process plant, as previously estimated, in the second quarter of 2007'.\n\n\nSekisovskoye Update\n\nMining activities at Sekisovskoye commenced in early June. The volume of\nmaterial mined so far in 2006 is some 107% in excess of that submitted in the\nmining plans approved by the State Mining Committee. This material includes the\nmining and stockpiling of over 22,000 tonnes of ore from previously unidentified\nore zones, which can be used for the commissioning of the process plant in 2007...