Business
Seki Resumes Production
Seki Resumes Production.
About this update from Altyngold Plc
[{"type":"text","content":"\n Hambledon Mining PLC\n23 April 2008\n\n\n HAMBLEDON MINING PLC\n (AIM: HMB)\n\n Sekisovskoye resumes full production\n\n\nHambledon Mining plc ('Hambledon' or the 'Group' or the 'Company'), the\nAIM-listed gold mining and processing company operating in Kazakhstan, is\npleased to report that the replacement boiler at the processing plant at\nSekisovskoye has now been installed and gold production has been resumed.\n\nThe entire elution system has been redesigned, installed and commissioned with\nthe help of specialist boiler consultants. During the shut-down, the Company\narranged for independent industrial health and safety consultants to review\nevery aspect of the Sekisovskoye processing plant and, apart from some minor\ndocumentary issues that have now been rectified, no deficiencies were reported.\n\nAll previously experienced commissioning problems, which principally concerned\nperipheral crushing equipment, have been rectified and a stockpile of some\n13,000 tonnes of crushed ore has been accumulated. A further stockpile of\napproximately 137,000 tonnes of ore remains from before the closure.\n\nDue to a much higher than normal content of clay-like material in the ore, which\ntends to clog the sizing screens, the decision has been taken to crush to a\nslightly larger size than planned. This is a short term problem that should not\ncontinue as the mine deepens, but will result in temporarily lower throughput\nthrough the main ball-mills. The impact on operations is difficult to forecast\nprecisely but, in the absence of any further commissioning problems, it is\nexpected that production during the next two months will be approximately 80% of\nthe production rate of 40,000 ounces per annum expected thereafter.\n\nMining operations are expected to re-start in May. At this time, the mining\nfleet will be augmented with an additional Atlas Copco L7 blast hole drill-rig\nand a Hitachi Zaxis 200 excavator fitted with a Montabert 900 rock-breaker.\n\nThe Company is continuing negotiations with its bankers for stand-by finance in\ncase it should be needed, whilst closely monitoring its cash and funding\nposition.\n\n\nNick Bridgen, Chief Executive of Hambledon, said:\n\n'This has been a challenging period for the Company but all the issues have been\nresolved and we are now looking forward to a sustained period of operating.\n\...