GoldBridges Global Resources PLC Sekisovskoye mine video (8522C)
October 21 2015 - 2:00AM
UK Regulatory
TIDMGBGR
RNS Number : 8522C
GoldBridges Global Resources PLC
21 October 2015
21 October 2015
GoldBridges Global Resources Plc
("GoldBridges" or the "Company")
Sekisovskoye mine video
GoldBridges Global Resources plc is pleased to announce that it
has uploaded a new corporate video onto the website,
www.goldbridgesplc.com, which shows the Sekisovskoye mine in North
East Kazakhstan, and demonstrates that decline development work is
underway. The link to the video is
http://www.goldbridgesplc.com/sekisovskoye-mine-video.html .
Since the company announced in August that it would access its
deeper reserves via a decline, significant progress has been made.
In developing the underground mine, GoldBridges has fully completed
construction works on the 250 metres above sea level (masl) level,
and is now working on the 200 masl level. The current rate of
development is approximately 400 metres per month. The company aims
to be producing some gold from the 250masl level during Q4 2015,
and from the 200masl level in 2016.
Maxim Strelnikov, COO of GoldBridges, commented:
"Our new video footage showcases our Kazakh operation and
demonstrates the significant progress that we have made towards
developing our new underground mine at Sekisovskoye. Sekisovskoye
contains significant high grade reserves, and the decline solution
allows us to access these reserves using a low capital expenditure
solution. "
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 Thöle / Richard Crowley
+44 (0) 203 772 2500
Information on the Company
GoldBridges 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. This includes
the adjacent prospective Karasuyskoye Ore Fields, on which
GoldBridges was recently awarded the tender to perform further
confirmatory testing in order to gain the sub-soil user
licence.
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 2015, 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 2014, the Company's consolidated
revenue was US$35.2 million and its EBITDA was US$5.3 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCPKKDQBBDDPKB
(END) Dow Jones Newswires
October 21, 2015 02:00 ET (06:00 GMT)
Altyngold (LSE:ALTN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Altyngold (LSE:ALTN)
Historical Stock Chart
From Jul 2023 to Jul 2024