Hambledon Mining PLC Quarterly Report 30 September 2013 (6938R)
October 30 2013 - 3:00AM
UK Regulatory
TIDMHMB
RNS Number : 6938R
Hambledon Mining PLC
30 October 2013
30 October 2013
Hambledon Mining Plc
("Hambledon" or "the Company")
Quarterly Report 30 September 2013
Hambledon Mining plc (AIM: HMB), the gold mining and development
group, today provides its operational update for its 100 per cent
owned Sekisovskoye mine for the quarter ended 30 September
2013.
Highlights include:
-- 9,161 oz of gold produced during the period - a 56 per cent
increase year-on-year and a 21 per cent increase over the previous
quarter
-- Continued ramp up in underground mining - 1,985 oz of gold
produced during the quarter at an average grade of 4.03 grams per
tonne
-- Improved average plant feed grade of 1.76 grams per tonne due
to increased volume of high grade underground ore
-- Increased recovery rates following commissioning of the 7(th)
Carbon-in-Leach (CIL) tank - 85.5 per cent gold recovery rate
achieved during the quarter and 89.4 per cent in the month of
September
Aidar Assaubayev, CEO of Hambledon Mining, commented:
"This quarter's gold production has been the highest in the
Company's production history. We are pleased to see the underground
mine performing well and continue to focus resources on
accelerating production in coming quarters. We would like to thank
all shareholders for their continuing support."
Enquiries:
Hambledon Mining Plc
Bogdan Poustovoi, CFA (Investor Relations) +44 (0) 207 932 2455
Strand Hanson (Nomad and Broker)
Andrew Emmott
James Spinney
Ritchie Balmer +44 (0) 207 409 3494
+44 207 138 3204
Blythe Weigh Communications
Tim Blythe +44 (0) 7816 924626
Halimah Hussain +44 (0) 7725 978141
Camilla Horsfall +44 (0) 7817 841793
Detailed Review of Mining and Processing Operations
Production figures for three months end 30 September 2013:
July August September Total
------------------- ------- ------- ---------- --------
Total ore milled,
t 66,739 63,973 58,856 189,568
Gold grade, g/t 1.75 1.96 1.55 1.76
Contained gold,
oz 3,750 4,034 2,934 10,719
Gold recovery, % 84.2 84.0 89.1 85.5
Recovered gold,
oz 3,156 3,389 2,615 9,161
Recovered silver,
oz 3,117 3,237 2,893 9,247
------------------- ------- ------- ---------- --------
Of which:
July August September Total
------------------------- ------ ------- ---------- -------
Underground ore milled,
t 6,015 9,233 2,835 18,083
Gold grade, g/t 4.2 4.0 3.8 4.0
Contained gold, oz 811 1,187 342 2,340
Gold recovery, % 84.2 84.0 89.1 85.5
Recovered gold, oz 683 997 305 1,985
Recovered silver,
oz 783 919 201 1,902
------------------------- ------ ------- ---------- -------
The Company processed 189,568 tonnes of ore during the quarter,
of which 18,083 tonnes was high grade underground ore. This was up
13 per cent compared to Q3 2012 (167,242 tonnes) but down 3 per
cent compared to Q2 2013 (195,227 tonnes) due to time lost during
maintenance work in the crushing plant and replacing of one of the
crushers. Management expects this change, along with continued work
on debottlenecking to further optimise performance of the
processing plant.
In terms of the performance of the underground mine, 18,083
tonnes of high grade underground ore was milled during the quarter.
This was an increase of 261 per cent compared to the previous
quarter (5,016 tonnes), and delivered an improvement in the overall
average head grade to 1.76 grams per tonne. The decrease in the
amount of ore milled in September was due to scheduled waste rock
removal in the underground mine to improve future access to ore
bodies in accordance with the mine plan, as well as the maintenance
referred to above. We expect underground ore deliveries to the
processing plant to resume to full capacity in November.
Gold recoveries were also up during the quarter, averaging 85.5
per cent for the quarter, and 89.1 per cent in September. This
increase was due to the installation of the 7(th) CIL tank in
mid-August 2013 and the re-commissioning of the fine grinding mill
Number 3 in September 2013 following its planned refurbishment.
A copy of this report will be available on the Company's
website, www.hambledon-mining.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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