Altyn Plc Directorate change
01 Fevereiro 2017 - 5:00AM
UK Regulatory
TIDMALTN
ALTYN PLC
Appointment of Executive Director and Corporate Broker
Altyn plc ("Altyn" or the "Company"), is pleased to announce the
appointment of Neil Herbert as Executive Deputy Chairman effective
immediately.
Aidar Assaubayev, Chief Executive Officer, said "Neil has been
working closely with Altyn since his appointment as a non-executive
director in February 2016. With our mine expansion on plan and on
budget we are delighted that he is now joining us in an executive
capacity, where his wealth of experience in both mining and finance
strengthens our management team."
Neil Herbert, Deputy Chairman, said "We are working to transform
the Sekisovskoye gold mine, which produced 20,890oz in 2015, into a
100,000oz producer in 2019. We are also working on the adjacent
Karasuyskoe ore fields, which will provide Altyn with open pit
expansion potential beyond 2019. These projects will transform
Altyn into a significant gold producer."
Neil Herbert has worked in the resource sector since joining
Antofagasta in the 1990s, during which time the Company was
transformed into a major copper producer. He was subsequently
appointed as a senior executive at Brancote Holdings plc, Patagonia
Gold plc, Galahad Gold plc, International Molybdenum plc, UraMin
Inc and also Polo Resources Ltd where he was both Chairman and
Managing Director.
Mr Herbert is currently Chairman of Helium One Ltd and Siderian
Capital Resources Ltd and is also a non-executive Director of
Concepta plc, IronRidge Resources plc, Kemin Resources plc, Waratah
Resources Limited and, since February 2016, Altyn plc. Prior to
joining the resource sector he worked for PwC and he is a fellow of
the Association of Chartered Certified Accountants.
He has been issued share options over 46,686,843 Altyn plc
ordinary shares at an exercise price of 2.125 pence per share.
The Company is also pleased to announce the appointment of VSA
Capital as Corporate Broker to the Company. VSA Capital Limited is
a London based investment banking group providing corporate finance
and corporate broking services to companies operating in the
natural resources sector.
Neil Herbert - Past Public Directorships in last 5 years :
Polo Resources Ltd, Anglo African Agriculture Plc, Premier
African Minerals Ltd, GCM Resources plc, Sunrise resources plc.
For further information please contact:
Altyn plc
Rajinder Basra, CFO +44 (0) 207 932 2456
VSA Capital (Corporate Broker)
Andrew Monk / Andrew Raca +44 (0) 203 005 5000
Information on the Company
Altyn 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 Altyn
was recently awarded the tender to perform further confirmatory
testing in order to gain the sub-soil user licence.
The Company holds a 100 per cent shareholding in DTOO
Gornorudnoe Predpriatie Sekisovskoye ("DGPS") which holds a subsoil
use contract in relation to the Sekisovskoye deposit, covering a
total area of 0.855km². The subsoil use contract for Sekisovskoye
is valid until 2020 and the Company currently intends to seek to
extend the contract in accordance with its terms. The Company also
holds a 100 per cent shareholding in Altyn MM LLP (formerly Altai
Ken-Bayitu LLP), which owns and operates the processing plant at
the Sekisovskoye deposit. The Sekisovskoye deposit is located at
the village of Sekisovskoye, approximately 40km north of the town
of Ust-Kamenogorsk, the capital city of the East Kazakhstan Region.
The current operation is focused on mining the near-vertical
deposits which extend to the surface below the open pits which have
been previously mined.
The Company intends that the Sekisovskoye deposit shall become a
selective-mining underground operation. As at 31 May 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.
In the year ended 31 December 2015, the Company's consolidated
revenue was US$24.05 million and its net assets US$38.4
million.
View source version on businesswire.com:
http://www.businesswire.com/news/home/20170131005911/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
February 01, 2017 02:00 ET (07:00 GMT)
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