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Gold production to up at Sekisovskoye mine in Kazakhstan

Business Materials 2 December 2016 11:48 (UTC +04:00)
GoldBridges Global Resources Plc has increased underground ore production at Sekisovskoye gold mine in Kazakhstan to 20,187 tons in October

Baku, Azerbaijan, Dec. 2
By Elena Kosolapova – Trend:
GoldBridges Global Resources Plc has increased underground ore production at Sekisovskoye gold mine in Kazakhstan to 20,187 tons in October, the company said.
It is planned to reach production of 25,000 tons a month by the end of the year, increasing to 42,000 tons a month in 2017.

A recovery rate of 82 percent was achieved in October, and the company is targeting to exceed this once the new gravity concentration equipment is installed during 2017.
Production targets have been revised with targets being set at 40,000 Oz of gold production in 2017, planned to rise to 60,000 Oz in 2018 and to reach an annual run rate of 100,000 Oz during 2019.

The company expects that the increase of production will be accompanied by a gradual reduction of total cash cost, targeted to reach $900 in 2019.

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 license.
As of May 31, 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.

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