Business
2005 Preliminary Results-Amd
2005 Preliminary Results-Amd.
About this update from Kazera Global Plc
[{"type":"text","content":"\n KazakhGold Group Ltd\n05 June 2006\n\n\n\n\nThe following replaces the 'Preliminary Results' announcement released on \n5 June at 07:00 under RNS No 0323E.\n\nThis version contains minor textual changes.\n\nThe full amended text is shown below.\n\n\n\n Preliminary results for 14 weeks from September 26\n to December 31, 2005\n\nHighlights\n\n• Gold production during the period was 52,691oz from newly commissioned\nprocessing facilities at the company's three operating mines: Aksu, Bestobe and\nZholymbet; bringing total production for 2005 to 88,784oz (H1: 6,800oz; H2:\n81,984oz)\n\n• Production of 33,624oz in first quarter of 2006 in line with budget\n\n• Successful IPO in November 2005 raised net proceeds of US$97.4 million\nfor debt repayment and reinvestment in business\n\n• Substantial capital expenditure in 2005 to expand processing capacity\nand US$68.8 million budgeted for further capacity expansion in 2006\n\n• Exploration portfolio of three properties acquired in July 2005 by\nKazakhaltyn, expanded through award of licences for five additional properties\nin gold-bearing regions of Kazakhstan\n\n• Actively looking at opportunities to accelerate growth strategy\n\n\nKazakhGold (KZG) is one of the first companies from Kazakhstan to list on the\nLondon Stock Exchange. It has three operating gold mines and a portfolio of\nhighly-prospective exploration properties. The company has embarked on a\ndevelopment strategy to realise the full potential of its mines which are\nbelieved to have the largest known gold reserves and resources in Kazakhstan.\nIt has already commissioned modern processing facilities with annual treatment\ncapacity of 3m tonnes.\n\nKazakhGold is led by Chief Executive, Dr Kanat Assaubayev, a leading authority\non automation of process technology in the mining, iron and steel and oil and\ngas industries.\n\nCommenting on KazakhGold's first set of results, Dr Assaubayev said: 'We are\npleased with the progress we are making at our three operating mines where we\nhave commissioned new processing facilities and substantially increased gold\nproduction. We have a strong management team that is committed to developing\nKazakhGold to its full potential as a leading low-cost Central Asian gold\nproducer. We are actively looking at opportunities to accelerate our growth.'\n\n /2\n\n -2-\n\nKazakhGold...