Goldbridges Gbl Res Directorate change
July 14 2016 - 8:00AM
UK Regulatory
TIDMGBGR
GoldBridges Global Resources Plc
("GoldBridges" or the "Company")
Management Changes
GoldBridges is pleased to announce that it has strengthened its
management team with the appointment of Eric Aripzhanov as the
Company's Chief Operational Officer, to take control of the
development of the underground mine at Sekisovskoye.
Mr. Aripzhanov has over 23 years' experience in the mining
industry of Kazakhstan and during that time, he has been involved
in all aspects of mine development to include the construction of
process plants, daily operational management, and development
projects on several large gold operations including Zhanan,
Boldykol, Aksu, and Arkharly.
For the past seven years Eric Aripzhanov has been working for
the London listed company Norgold. He led a technical team at the
Suzdal sulphid gold mining operation in East Kazakhstan. Suzdal ore
is extracted from an underground mine, and it operates a processing
plant with crushing, grinding, flotation, BIOX, CCD and CIL
circuits with an annual output of 79.3koz.
Eric Aripzhanov was pivotal in implementing and operating one of
the most technologically advanced operations within Nordgold - the
plant possesses the necessary technology to process refractory
sulphide ore, and the BIOX processing circuit at the mine was the
first in Eurasia.
This experience will be invaluable as he will be in charge of
the development of the production facilities and day to day
operational management at the underground mine at Sekisovskoye.
Biographical details of new Exploration Director:
Before joining GoldBridges management team Mr. Aripzhanov worked
as Technical Director at Norgold's subsidiary FIC Alel. From
2002-2008, he worked at several large gold mining operations
Arharly, Zhanan Boldykol. In 1993-2002, he held various positions
within Balkhash group of goldminers and was involved into Ush Shoky
mine field (650 kt ore), Altyn Sai (underground production of 400
kt), Myn Aral (sulphid ore underground production of 550 kt),
Aksakal and Beskempir (underground 800 kt)
Mr. Aripzhanov holds an engineering degree from Novosibirsk
University based in Russia.
At this time the board of GoldBridges and Bill Trew have agreed
that he will step down as a Non-Executive Director of the company
with immediate effect, to allow him to pursue other interests.
Aidar Assaubayev, CEO of GoldBridges commented:
"We are delighted Eric has agreed to join our Company. Eric has
a wealth of experience and a great track record in managing and
delivering on major underground mining operations that are similar
to our own project at Sekisovskoye. He will be instrumental in
delivering on our ambitious underground development programme to
produce 100koz "
"We would also like to thank Bill for his valuable input during
his tenure as a Non-Executive Director, and wish him success in his
future plans."
For further information please contact:
GoldBridges Global Resources Plc
Rajinder Basra
+44 (0) 207 932 2456
Information on the Company
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
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 DTOO Altai Ken-Bayitu LLP
which owns and operates the processing plant at the Sekisovskoye
deposit. The Sekisovskoye deposit is located at the village of
Sekisovka, approximately 40km north of the town of Ust-Kamenogorsk,
the capital city of the East Kazakhstan Region. The current
operation is focused on mining two open pits where the
near-vertical deposits extend to the surface. The open pits are
nearing their end of life in 2015, and the Company is developing an
underground extension to exploit the deposits to depth.
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 million and its Net Assets were US$38.4
million.
www.goldbridgesplc.com
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