Business
KazakhGold Trading Stmt-Amend
KazakhGold Trading Stmt-Amend.
About this update from Kazera Global Plc
[{"type":"text","content":"\n KazakhGold Group Ltd\n14 February 2007\n\nThe following replaces the announcement issued at 1.29pm (RNS 2591R). The\nsentence at the end of the first paragraph has been amended.\n\nThe full amended release appears below.\n\n\nFebruary 14, 2007\n\n\nTRADING UPDATE FOR THE YEAR ENDED DECEMBER 31, 2006\n\n\n KAZAKHGOLD PRODUCES 220,000 OUNCES OF GOLD\n IN FIRST YEAR AS FULLY-LISTED LONDON COMPANY\n\nKazakhGold Group Limited (LSE: KZG), one of the leading gold producers in\nKazakhstan, reports production of 45,986 ounces in the final quarter of 2006.\nThis brings to 219,853 ounces the total output for the 12 months ended December\n31, 2006, the company's first year as a fully-listed London company. 2006\nproduction at Kazakhaltyn, KazakhGold's principal operating subsidiary, has\nincreased 175% on the 80,069 ounces produced in the 12 months ended 31 December\n2005.\n\nProduction at Aksu, Bestobe and Zholymbet, the Group's three principal mines in\nNorthern Kazakhstan, was below expectations in the final quarter of 2006 as a\nresult of an unexpected period of extremely cold weather in November and\nDecember which had an adverse impact on the Group's heap leaching operations at\nAksu and Bestobe. Stockpiling of ore continued, however.\n\nDuring the year, the company treated 4.68m tonnes of ore at an average grade of\n1.92g/t gold of which 1.76m tonnes grading 2.13g/t gold were treated in the CIP\nplants, 2.86m tonnes grading 1.66g/t gold were heap-leached and 0.061m tonnes\ngrading 7.76g/t gold were processed in the Bestobe flotation plant. The average\ngold recovery rate was 76%.\n\nThe Group is continuing technical upgrading work at all the mines, including the\noverhaul of crushing and milling equipment and upgrading and re-equipping the\nshafts. This work is being undertaken to enable the Group to optimise\nproduction costs.\n\nKazakhGold has engaged Altynor and MAED as project managers to advise the\nGroup's internal technical team on the construction of the new CIP plants, which\nform a major part of the Group's Accelerated Investment Plan. During this\nprocess the team will be able to draw on experience gained when constructing the\nCIP plants commissioned in 2005. In addition, the Group will be evaluating\ntenders for construction of the proposed plants.\n\nThe main focus of the programme is to increase the proportion of or...