Altyngold Regulatory News (ALTN)

11 Aug 2008 07:01



Hambledon Mining Plc

("Hambledon" or "Company")

PRODUCTION UPDATE

Hambledon, the AIM quoted gold mining company operating in Kazakhstan, is pleased to report further progress on gold production at its Sekisovskoye operation. 

2,247 ounces of gold and 3,418 ounces of silver were poured during the month of July 2008. This compares with June 2008 when 1,102 ounces of gold and 1,608 ounces of silver were poured.  Further improvements are being implemented which will help to increase the throughput and metallurgical recovery over the coming three months. The Company remains confident that it will shortly thereafter meet its target monthly rate of open-pit production of 3,333 ounces of gold (40,000 ounces of gold on an annualised basis). 

It is expected that by the end of the year orders will be placed for the equipment required to start underground mining, and all applications for the necessary approvals will be submitted, thereby providing shareholders with an increasing production profile in both the short and medium term.

The Company will in future be providing production updates at the end of each quarter, commencing with the three month period ending 30 September 2008.

The directors of Hambledon know of no reason for the recent weakness of the Company's share price.

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