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Hambledon Mining's production edges higher

Hambledon Mining's production edges higher

Hambledon Mining‘s (LON:HMB) production edged up in its latest quarter with higher output of both gold and silver. 

The company’s Kazakhstan-based Sekisovskoye mine produced 5,875 ounces of gold and 7,469 ounces of silver in the three months to September with plant recovery averaging 80.8%.

In the preceding three months Hambledon had produced 5,840 ounces of gold and 6,856 ounces of silver.

Hambledon’s underground trial delivered 15,125 tonnes of ore averaging 3.32g/t Au.

Some of this ore has already been processed and the remainder will be processed in the final quarter, Hambledon said.

The company recently decided temporarily to suspend underground operations to preserve cash while it carried out a strategic review into the development of the underground operation.

Capital expenditure on the underground mine will temporarily cease from this month.

Hambledon added that the repair to Tailings Dam No. 3 is complete. The dam is expected to be commissioned in November 2012 after receipt of government permits.

The reduced tailings dam capacity hit processing plant capacity over the last three months but this capacity is expected to improve as the tailings dam comes back on stream.

Hambledon has appealed against the fines levied against the company following the dam breach.

During the quarter ended 30 September 2012, the open pit mining operations extracted 185,300 tonnes of ore averaging 1.2g/t Au.

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