Business
Project Update/ Board changes
Project Update/ Board changes.
About this update from Altyngold Plc
[{"type":"text","content":"\n Hambledon Mining PLC\n24 January 2008\n\n\nPRESS INFORMATION 24 January 2008\n\n\n HAMBLEDON MINING PLC\n (AIM: HMB)\n\n Report on start-up and Board changes\n\n\nHambledon Mining plc ('Hambledon' or the 'Group' or the 'Company'), the\nAIM-listed gold mining and processing company operating in Kazakhstan, announces\nan update on operations at the Sekisovskoye gold mine and Ognevka processing\nplant.\n\nBoth operations have had minor problems since the commencement of processing but\nthese have now been resolved and production is on track to meet the expected\nlevels.\n\nSince the start of processing at the deposit, gold production was affected by\nseveral minor start-up problems. Shortly after the start, the two main\nball-mills had to be shut down as a result of overheating of the discharge end\nbearings. This was caused by misalignment and inaccurate machining during\nmanufacture. Some problems have also been experienced with the jaw crusher.\nHowever, these and several other minor issues have all been resolved and the\ncrushing and milling sections are now operating satisfactorily.\n\nThe two final leach tanks, out of a total of six, have now been brought online\nand it is expected that through-put will reach the design level of 850,00 tonnes\nper year by the end of the month\n\nAt Ognevka, where operations started on 29th November 2007, concentrate\nproduction has been hampered by poor flotation recoveries. The problem has been\ntraced to the effect of residual magnetism of fine particles after magnetic\nseparation. The plant was shut down over the prolonged Christmas and New Year\nholidays for modifications but has now re-started and is operating normally at\n20 tonnes per hour. Output will be raised to 30 tonnes per hour from February.\n\nThe Company also announces the appointment of Neil Robert Stevenson, aged 45, as\nan executive director. Neil joined the Company as Operations Manager in August\n2005. He is a mining engineer with a post graduate degree in Business\nAdministration and has over 20 years experience in the management of open pit\nand underground mining operations.\n\nUnder Schedule 2, paragraph (g) of AIM Rules for Companies, there is nothing\nfurther to disclose.\n\nIn addition, Randall Pyper has resigned his position as Technical Director.\nRandall has been associated with the Company since February 200...