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Peter Hambro Mining - New production plan envisages 1m oz in 2012 on ‘high case scenario’

April 2009

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • POG
  • Price:
  • 471p
Russian gold miner Peter Hambro Mining has announced its annual production plan update for the three-year period to 2012. In 2009 production is now expected to be in the range of 460,000-510,000 oz, while it also has two scenarios for the 2010-2012 period, including a low case scenario of 685,000 oz in 2010 rising to 855,000 oz in 2012 and a high case scenario of 769,000 oz rising to just above the magical 1m oz mark in 2012.The reason for the big variations is that it's notoriously difficult to predict when new mines will come on stream as so many factors can cause delays. But the key reason for owning the shares right now is that they remain very cheap on a prospective PE of c.7 and factor in very little future growth. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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