ALTN Altyngold Plc

    RNS Number : 9714U
  Hambledon Mining PLC
  21 May 2008
   


    HAMBLEDON MINING PLC
    (AIM: HMB)

    £2.8m Placing

    Hambledon Mining plc ("Hambledon" or the "Group" or the "Company"), the AIM-listed gold mining and processing company operating in
Kazakhstan, is pleased to report that it has raised a total of £2,765,050 before expenses by way of a placing ("the Placing") of 21,269,615
new ordinary shares of 0.1 pence in the Company ("Ordinary Shares") at an issue price of 13p per Ordinary Share.

    The capital raised will provide the Company with working capital for its Sekisovskoye operations and funds for the long lead-time
capital expenditure on the development of underground operations.  It will also provide funds to press ahead with the studies into the
potential for development of the Ognevka pegmatite tailings and allow the Company to move ahead with exploration and other corporate
development.

    Mr Nicholas Bridgen and Mr Christopher Thomas, both directors of the Company, subscribed for 384,616 and 153,846 Placing shares
respectively. Mr Bridgen is now interested in 90,198,936 shares, representing 19.2% of the issued ordinary share capital of the Company, and
Mr Thomas is interested in 2,897,366 shares, representing 0.62% of the issued share capital of the Company.

    Application will be made for admission of the 21,269,615 new Ordinary Shares to trading on AIM with dealings expected to commence on 28
May 2008.


    Nick Bridgen, Chief Executive of Hambledon, commented:

    "Operations at Sekisovskoye are going well, but this will enable us to pre-order some of our reagents and carry more strategic spare
parts so that the operation should be more secure.

    We'll also be able to press ahead with the Sekisovskoye underground project and make a start on the pegmatite project at Ognevka."

    21 May 2008
      Enquiries

    Hambledon Mining plc                    Telephone:    +44 7791 327 180
    Nick Bridgen

    Bankside Consultants                     Telephone:    +44 20 7367 8888
    Michael Padley / Louise Davis

    Seymour Pierce                                Telephone:    +44 20 7107 8000
    Nicola Marrin    


    Note to editors

    Hambledon Mining plc is an AIM-listed gold mining and exploration company, which is operating the Sekisovskoye gold mine and the Ognevka
processing plant, both of which are close to Ust Kamenogorsk in East Kazakhstan.

    At Sekisovskoye, the Company is mining from an open pit and has constructed an 850,000 tonnes per year treatment plant. Production from
the open pit will average over 40,000 ounces per annum.  As soon as steady production has been achieved, the Company plans to develop the
much larger underground resource that is expected to lead to a combined production rate of around 100,000 ounces per year.

    The Ognevka processing plant is producing concentrates containing gold, silver, copper, iron and coke from the re-treatment of zinc
smelter residues.

This information is provided by RNS
The company news service from the London Stock Exchange
 
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