GoldBridges Global Resources PLC Appointment of Joint Broker (8037J)
April 10 2015 - 2:00AM
UK Regulatory
TIDMGBGR
RNS Number : 8037J
GoldBridges Global Resources PLC
10 April 2015
10 April 2015
GoldBridges Global Resources Plc
("GoldBridges" or the "Company")
Appointment of Joint Broker
GoldBridges, the gold mining and development company, is pleased
to announce the appointment of Cantor Fitzgerald Europe to act as
its joint broker with immediate effect.
For further information please contact:
GoldBridges Global Resources Plc
Louise Wrathall
+44 (0) 207 932 2456
Strand Hanson (Financial Adviser and Joint Broker)
Andrew Emmott / James Spinney / Ritchie Balmer
+44 (0) 207 409 3494
Cantor Fitzgerald Europe (Joint Broker)
Stewart Dickson / Jeremy Stephenson
+44 (0) 207 894 7000
Bell Pottinger (Financial PR)
Daniel Thole / Marianna Bowes / Richard Crowley
+44 (0) 203 772 2500
Information on the Company
The Company is a gold mining, exploration and development group
based in Kazakhstan. Whilst the Company was initially established
to exclusively develop and operate the Sekisovskoye gold and silver
mine in the East Kazakhstan Region, it is now actively targeting
additional gold mining opportunities in Kazakhstan, including the
prospective Karasuyskoye Ore Fields which adjoin the Sekisovskoye
deposit.
The Company holds a 100 per cent shareholding in DTOO
Gornorudnoe Predpriatie Sekisovskoye ("DGPS") which holds a subsoil
use contract in relation to the Sekisovskoye deposit, covering a
total area of 0.855km(2). The subsoil use contract for Sekisovskoye
is valid until 2020 and the Company currently intends to seek to
extend the contract in accordance with its terms. The Company also
holds a 100 per cent shareholding in DTOO Altai Ken-Bayitu LLP
which owns and operates the processing plant at the Sekisovskoye
deposit. The Sekisovskoye deposit is located at the village of
Sekisovka, approximately 40km north of the town of Ust-Kamenogorsk,
the capital city of the East Kazakhstan Region. The current
operation is focused on mining two open pits where the
near-vertical deposits extend to the surface. The open pits are
nearing their end of life in 2016, and the Company is developing an
underground extension to exploit the deposits to depth.
The Company intends that the Sekisovskoye deposit shall become a
selective-mining underground operation. As at 31 May 2014, the
Company's proven and probable reserves consisted of 2.3Moz of gold
and 3.0Moz of silver, and the Company's measured, indicated and
inferred resources consisted of 5.1Moz of gold and 3.5Moz of
silver, in each case as classified in accordance with JORC.
In the year ended 31 December 2013, the Company's consolidated
revenue was $42.4 million and its EBITDA was US$(0.6) million. In
the six months ended 30 June 2014, the Company's consolidated
revenue was US$16.7 million and its EBITDA was US$5.9 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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