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Share £ 3.1500
Gold $ 1,294.80
Silver $ 20.37
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The Sekisovskoye open pit mine had been worked by the Soviets from 1976. Exploration and metallurgical studies were carried out from 1979 to 1994 on the open pit and underground ore bodies. GoldBridges acquired the mining rights held by TOO Sekisovskoye in 1994. The mining licence is valid until 18 July 2020 with a contractual right to extend. In 2004, GoldBridges is listed on AIM. It subsequently built a brand new treatment plant capable of treating 850,000 tonnes per annum, commenced mining in 2007 and began processing ore and pouring gold in 2008.

Since then, production has steadily risen to 30,000 oz gold per annumin 2013 with production planned to rise to 100,000 oz, there is also significant amounts of silver. The dore bars are exported to Switzerland for refining. In late 2011, Hambledon began mining the underground deposit of Sekisovskoye, and, in 2012, a loan and equity investment from European Bank for Reconstruction and Deveolpment was announced to assist in the financing of the underground development. In late 2012, African Resources Ltd. made a successful partial tender offer for the Company, and now owns a substantial stake in the issued equity. A re-configured board was instituted and is currently led by the Chairman Kanat Assaubayev with Aidar Assaubayev as CEO, with Ashar Qureshi, Ken Crichton, Alain Balian, and Bill Trew as non-executive directors.


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