/IRBIS, August 10, 2010/ - KazakhGold Group Limited expects August 13, 2010 court decision on the arrest of accounts of JSC MMC "Kazakhaltyn", stated the spread on August 9 KazakhGold report.

As indicated, the company expects a court decision on appeal "Kazakhaltyn" against the arrest of the 13 August 2010. In the event that an appeal "Kazakhaltyn" to lift the arrest would be a failure or freezing order will not be changed or revoked by the Kazakh authorities in order to allow "Kazakhaltyn" to pay its operating costs, the Board of Directors KazakhGold expects Kazakhaltyn will be forced to suspend its activities earlier in the week commencing August 16, 2010.

Recall that the JSC MMC Kazakhaltyn "received on August 5 permit from the Agency of the Republic of Kazakhstan for Fighting Economic and Corruption Crimes (Financial Police) for access to the arrested accounts to pay salaries to its employees, reported in the report circulated on August 5 KazakhGold Group Limited.

"In addition to the announcement of August 3, 2010 KazakhGold Group Limited (" KazakhGold "or the" Company ") regarding the freezing of the Agency for Economic and Corruption Crimes (AEKP") in Kazakhstan, some bank accounts in Kazakhstan, the main operating subsidiary of JSC MMC Kazakhaltyn (Kazakhaltyn), Kazakhaltyn today received permission from AEKP access to funds in these accounts to pay salaries to its employees, "- stated in the message.

As indicated, according to law, Kazakhaltyn still can not use the funds frozen funds for any other purposes, including payments to its suppliers and other operating expenses, which can lead to further violations of the company.

It is reported that Kazakhaltyn appealed the order to freeze accounts in Kazakhstan's courts and through the prosecutor's office, the company was informed that she could rely on a decision on an appeal for about 10 days.

[2010-08-10]