29 Dec 2011 10:44
Hambledon Mining Plc
("Hambledon" or "the Company")
Fines for tailings dam leak
Hambledon Mining plc (AIM: HMB), the Kazakhstan gold mining and development company announces preliminary information received regarding a fine for an administrative offence arising from environmental damage caused by a rupture to the liner in tailings dam No. 3, as previously announced on 2 November 2011.
The Company has received a letter from the appointed court investigator imposing a fine amounting to approximately tenge 272 million (approximately £1.17 million). The Company is appealing against the level of the fine and is confident that it will be reduced. No specific time period for payment of the fine was made within the letter from the appointed court investigator. The total amount of the fine will be expensed in Hambledon's accounts for the year ended 31 December 2011.
A court hearing on 26 December 2011 was adjourned and is expected to be held on or about 5 January 2012 Further updates will be made to shareholders as soon as possible when new information becomes available.
Enquiries;
HAMBLEDON MINING:
Telephone +44 (0)207 233 1462Charles Zorab
FAIRFAX I.S. PLC (NOMAD AND BROKER):
Telephone +44 (0)207 598 5368Ewan Leggat/Katy Birkin
TAVISTOCK COMMUNICATIONS:
Telephone +44 (0)207 920 3150Ed Portman/Jos Simson
Copyright Business Wire 2011
Altyngold (ALTN)