Preliminary Operating Results

RNS Number : 2571G

KazakhGold Group Ltd

28 January 2010

 



KazakhGold Group Limited releases its preliminary operating results for August -December 2009.

In the period under review KazakhGold Group Limited and its subsidiaries (the "Group") produced 30.3 k oz (941 kg) of gold in a form of sludge, flotation and gravitation concentrates and other semi-products.

In August-December 2009 the volume of total rock moved at the Group's production units and projects amounted to 232.6 thousand cubic meters, out of which 197.2 thousand cubic meters were related to stripping. Total rock moved is given only for open-pit mining. In the reporting period the Group mined 432.1 thousand tonnes of ore both from open-pit and underground operations. The average grade of the ore mined was equal to 3.04 g/t.

Ore processing in the period under review amounted to 432.1 thousand tonnes, out of which 243.4 thousand tons were processed at the refining plants and the rest at the heap leaching facilities. 

In the last five months of 2009 Zholymbet mine produced 12.1 k oz (375.8 kg) of gold, which represents 40% of total production of the Group. Bestobe mine produced 10.9 k oz (338.3 kg) of gold, or 36% of total output. Another 7.3 k oz (227.1 kg) were produced at Aksu.

By type of the semi-product the breakdown of the production was the following: 10.4 k oz of gold was in sludge, 9.1 k oz in quartzite ore, 3.6 k oz and 2.8 k oz in flotation and gravitation concentrate, respectively, with the rest in other semi-products.

During the last five months of 2009 the Group sold 29.4 k oz of gold, resulting in revenues for the Group of USD 26.2 million. The gold was sold to the following destinations: Russia (ZAO Karabashmed), Switzerland (Metalor Technologies) and China.

According to preliminary estimates, total capital expenditures in 2009 amounted to approximately USD 6.6 million (including exploration).

During this period the upgrading of underground mine equipment was underway at all mines, as well as repair works at the mills. At Zholymbet, the construction of hypochlorite preparation and tailings neutralization workshops, as well as oxygen station of the plant, was completed. In addition, capital and maintenance repair works at the production workshops, administration building, and the industrial area of the mine were carried out. 

Production at the heap leaching complexes at Aksu and Bestobe was resumed. 

Capital repair of the Ventilyatsionnaya shaft at Bestobe was completed; the sludge line was reconstructed; water cleaning system was installed to ensure the stable supply of drinking water; and capital repair of administration complex was carried out.

At Aksu, modernization at shafts No 39-40 was done and operations resumed; and capital repair of the administration complex at shaft No40 was done. In addition, capital and maintenance repair works at a number of production and administration facilities were carried out. 

Preliminary operating results

Item	Aug - Dec 2009
Total rock moved (thou m³)	233
including stripping	197
Ore mined (thou tonnes)	432
Av. grade in ore mined (g/t)	3
Gold content (kg)	1 313
Ore processing (thou tonnes), including	432
at mill	243
at heap leaching	189
Gold production
Zholymbet
Quartz ore	4 013
Sludge	7 272
Gravitation concentrate	624
Other	174
Total Zholymbet gold production	12 083
Aksu
Quartz ore	1 504
Sludge	3 100
Gravitation concentrate	2 187
Other	510
Total Aksu gold production	7 301
Bestobe
Quartz ore	3 596
Slime	2 182
Flotation concentrate	3 621
Other	1 477
Total Bestobe gold production	10 876
Total Gold production	30 260
Gold sales, kg/k oz	913 / 29
Revenues, $M/tenge billion	26 / 3 924

 

END

 

 

MSCPGUGAGUPUUQR