Goldbridges Gbl Res Sekisovskoye Mine Award
February 24 2016 - 2:00AM
UK Regulatory
TIDMGBGR
GoldBridges Global Resources Plc
("GoldBridges" or the "Company")
Sekisovskoye Mine Award
GoldBridges is pleased to announce that its Kazakh operating
subsidiary, Sekisovskoye, has received top rankings from the
prestigious National Business Rating Agency. Amongst the companies
reviewed, it has received first place in the East Kazakhstan region
for profitability against a range of measures and second place for
profitability against a range of measures for the whole of
Kazakhstan. The Company is also among contenders for nomination for
the Industry Leader Award, which will be held in a special ceremony
on 11 March 2016 in Astana.
The Non-Commercial National Business Rating Agency is part of
the Union of National Business Rating that incorporates similar
bodies in Azerbaijan, Belarus, Georgia, Russia, Uzbekistan, and
Ukraine. It was established in 2002 and circulates free,
independent ratings.
The ratings are based on tax payment information from the
Ministry of Finance and electronic financial statements that are
supplied into the Kazakh Depository of Financial Statements. The
ratings also pay significant attention to overall business conduct
and in particular to a company's social responsibilities in terms
of employees, social and environmental preservation. The results of
current ratings are based on tax payment information and financial
statements for 2013-2014 period.
For more information on these awards, please visit the website
www.nbr.com.kz.
Aidar Assaubayev, CEO of GoldBridges, commented:
"We are delighted to have won first and second place in two of
these prestigious Kazakh awards, which demonstrate the importance
of our Sekisovskoye gold mine for all of our stakeholders."
For further information please contact:
GoldBridges Global Resources Plc
Louise Wrathall
+44 (0) 207 932 2456
Cantor Fitzgerald Europe (Joint Broker)
Stewart Dickson / Jeremy Stephenson
+44 (0) 207 894 7000
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 0.855km². 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.
View source version on businesswire.com:
http://www.businesswire.com/news/home/20160223005921/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
February 24, 2016 02:00 ET (07:00 GMT)
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