MWP puts together the Hambledon Mining plc acquisition of Akmola Gold LLP: Tellur and Stepok precious metals projects in Kazakhstan
As previously announced, MWP is proud and honoured to have acted for Hambledon Mining PLC (AiM: HMB), where MWP was a founding pre-IPO investor, and with whom MWP has relations dating back to its formation, as to the conception, structuring and documentation of the acquisition of Akmola Gold LLP as the holder of the subsoil-use rights to two wholly owned projects in Central Kazakhstan, known as Tellur and Stepok, together containing around 440,000 ounces of gold resources, along with potentially significant credits from copper, lead and zinc.
Accordingly, MWP is pleased to now announce that on 31st August 2011. Hambledon Mining PLC entered into definitive agreements for the purchase and development of 100% of Akmola Gold LLP, previously owned by Central Asian Gold Corporation of Canada and Mr Yerkin Sadykov, who each have a beneficial interest of 50% in Akmola Gold LLP.
The acquisition is subject to the Government’s pre-emptive right to acquire on the same terms as Hambledon is offering and on certain other required consents. The total consideration for Akmola Gold is US$5 million, US$2.5 million being payable in cash and the balance being satisfied by the issue of ordinary shares of Hambledon.
Mr. Tim Daffern, CEO of Hambledon, said:
“...Hambledon wishes to acknowledge, and is grateful for, the unique role, contribution and risk-sharing of MWP, one of the cornerstone investors in Hambledon at the time of its IPO, and who began to put the current Tellur and Stepok transactions together, in late 2009. MWP played an instrumental and pivotal development role, in structuring, documenting and bringing the deal to a successful conclusion with disparate parties based in Vancouver, London, Kazakhstan, Uzbekistan and Russia, in difficult circumstances...”
MWP’s team was led by Michael Wilson in Almaty, Kazakhstan, supported by Larissa Orlova in Vancouver, Jypar Beishenalieva and Alida Tuyebekova also in Almaty.
Commenting on the transaction Michael Wilson, CEO of MWP, said:
“...MWP is delighted at this success given its long relationship with Hambledon, and is pleased to have been able to structure and engineer a unique deal, to have brought the parties together and that, finally, the former properties of Teck-Cominco in Kazakhstan (which also used to be part of Kazakhaltyn) now move into the development phase with Hambledon, where the former participants in Akmola Gold, will become significant shareholders in Hambledon...”
More information can be obtained from Yekaterina Kim or found at the London Stock Exchange, or Proactive Investors, or Digital Look.
Accordingly, MWP is pleased to now announce that on 31st August 2011. Hambledon Mining PLC entered into definitive agreements for the purchase and development of 100% of Akmola Gold LLP, previously owned by Central Asian Gold Corporation of Canada and Mr Yerkin Sadykov, who each have a beneficial interest of 50% in Akmola Gold LLP.
The acquisition is subject to the Government’s pre-emptive right to acquire on the same terms as Hambledon is offering and on certain other required consents. The total consideration for Akmola Gold is US$5 million, US$2.5 million being payable in cash and the balance being satisfied by the issue of ordinary shares of Hambledon.
Mr. Tim Daffern, CEO of Hambledon, said:
“...Hambledon wishes to acknowledge, and is grateful for, the unique role, contribution and risk-sharing of MWP, one of the cornerstone investors in Hambledon at the time of its IPO, and who began to put the current Tellur and Stepok transactions together, in late 2009. MWP played an instrumental and pivotal development role, in structuring, documenting and bringing the deal to a successful conclusion with disparate parties based in Vancouver, London, Kazakhstan, Uzbekistan and Russia, in difficult circumstances...”
MWP’s team was led by Michael Wilson in Almaty, Kazakhstan, supported by Larissa Orlova in Vancouver, Jypar Beishenalieva and Alida Tuyebekova also in Almaty.
Commenting on the transaction Michael Wilson, CEO of MWP, said:
“...MWP is delighted at this success given its long relationship with Hambledon, and is pleased to have been able to structure and engineer a unique deal, to have brought the parties together and that, finally, the former properties of Teck-Cominco in Kazakhstan (which also used to be part of Kazakhaltyn) now move into the development phase with Hambledon, where the former participants in Akmola Gold, will become significant shareholders in Hambledon...”
More information can be obtained from Yekaterina Kim or found at the London Stock Exchange, or Proactive Investors, or Digital Look.