London listed main board company AltynGold Plc has been operating the Sekisovskoye mining started in 2008, initially it was an open pit operation. Since 2017, all production is from higher-grade underground operations.
The company has a production mine with a processing plant, infrastructure and a significant asset base.
The company has a strategy to deliver transformational growth at Sekisovskoye mine, through its development of the underground mine, with targeted annual production run rate of 100,000 oz of gold.
Our mission is to generate long-term value for our shareholders, provide excellent working conditions for our people and support local communities. Our prime focus is gold and other complementary minerals where we can leverage our skills, experience and assets to deliver superior returns.
AltynGold Plc strategy is two-fold: continue developing the Sekisovskoye mine underground and increase exploration upside at the adjacent Teren-Sai deposit. Sekisovskoye underground mine will be developed over two phases.
Phase 1 is in the process of being developed and is planned to a depth of -50masl and is aimed at achieving an annual production of 1 million tons of ore per year and 100 thousand ounces of gold using a transport decline approach. This target should be achieved over the next three years as the company expands it mining equipment.
Phase 2 which then moves to a depth level from -50masl to -400masl is currently under development and potentially requires the building of access shafts in order to improve haulage economics. Access shafts are being planned to be operational before the end of phase 1 in order to avoid production stoppage. The ultimate scope and economics of the Stage 2 plan will depend on the additional drilling exploration at depth and subsequent conversion of resources into reserves
As stated AltynGold Plc has also secured subsoil rights on the highly prospective adjacent Teren-Sai deposit. So far one deposit and four defined Au exploration targets have been identified with an estimated exploration objective of Au 9Moz (not JORC compliant). This project is ongoing and the next step will be to instruct a Competent Persons Report.
In addition to growing our production and asset base, our progression to the Main Board of the London Stock Exchange in December 2014 represented not only a natural step in our growth strategy, but also our commitment to the London investor base and regulatory environment, and we remain committed to meeting best practice governance standards.
Targeted run-rate production for ~9 years
Hambledon mining acquires 100% rights to Sekisovskoye
Limited open pit production commenced and pilot processing plant commissioned
Incorporated as an UK company and begins trading on AIM
Processing plant commissioned with capacity of 850,000 tonnes of ore per annum
Commercial scale mining operations started in 2007 and processing of ore and pouring of gold started in 2008
Began exploratory mining of the underground deposit of Sekisovskoye
African Resources Limited offered to purchase 50.9% of the Company's shares
African Resources Limited offer was accepted, new management took over
Changed name from Hambledon Mining Company to GoldBridges Global Resources
Migrated listing from AIM to the London Stock Exchange by standard listing
Completed validation of geological data on Teren-Sai
Open-pit mining at Sekisovskoye transitioned to underground