Goldbridges Gbl Res Directorate Change
February 29 2016 - 6:40AM
UK Regulatory
TIDMGBGR
29 February 2016
GoldBridges Global Resources Plc
("GoldBridges" or the "Company")
Board changes
Highlights:
-- Appointment of Sanzhar Assaubayev to the Board of GoldBridges as an
Executive Director
-- Appointment of Neil Herbert to the Board of GoldBridges as a
Non-Executive Director
GoldBridges Board Changes
GoldBridges is pleased to announce that it has today
strengthened its board by appointing Sanzhar Assaubayev as an
Executive Director and Neil Herbert as a Non-Executive
Director.
Sanzhar Assaubayev was formerly Director of International
Affairs of JSC MMC Kazakhhaltyn and an Executive Director of Kazakh
Gold Group. He is also a member of the Board of Directors of
AltynGroup. He was educated at the Leysin American School in
Switzerland, where he specialised in Management, and also at the
American University in the UK. Sanzhar is CEO of AIM listed Kemin
Resources.
Neil Herbert is a Fellow of the Association of Chartered
Certified Accountants and has over 20 years of experience in
finance. He has been involved in the management of mining and
exploration companies for over 15 years and, until October 2013,
was Co-Chairman and Managing Director of AIM quoted Polo Resources,
a natural resources and mine development investment company. Prior
to this, he was Finance Director for UraMin, an African focused
uranium exploration company, from 2005-2007 during which period he
worked to float the company on AIM and the Toronto Stock Exchange
in 2006, raising c.US$400 million in equity financing and
negotiating the sale of the group to Areva for US$2.5 billion. Neil
will join the GoldBridges audit committee.
Non-Executive Director Ken Crichton has stepped down from the
Board by mutual agreement.
Aidar Assaubayev, CEO of GoldBridges, commented:
"We are delighted that Sanzhar and Neil have agreed to join us.
Their skills and experience in management and finance are crucial
to us at this time when GoldBridges is transitioning from a small
scale open pit gold miner to a significant gold producer in the
Central Asia region. Sanzhar's position on the GoldBridges Board
further demonstrates our financial commitment to developing
Sekisovskoye. We thank Ken for his hard work and wish him well in
his future endeavours."
For further information please contact:
GoldBridges Global Resources Plc
Louise Wrathall
+44 (0) 207 932 2456
Cantor Fitzgerald Europe
Stewart Dickson
+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/20160229005873/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
February 29, 2016 06:40 ET (11:40 GMT)
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