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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Secondary Recommendation

Peter Hambro Mining - Potential take-over of Aricom would erase funding concerns

February 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:
  • 393p
Russian gold miner Peter Hambro Mining (POG) has become one of the most consistent growth stories in the mining sector with production increasing from just over 70,000 oz in 2002 to an expected 350-400,000 oz in 2008. With the company setting its stall out to achieve more than 1m oz by 2011 amidst the backdrop of the biggest bull run in the price of gold since the early 80s, one would have expected the shares to be strong performers. But the credit crunch has stripped bare its policy of using significant debt to fund its expansion and the share price has subsequently fallen more than 70% since the beginning of 2008 on concerns over its ability to refinance. However, POG could have found a smooth way out of this jam as it has just ...

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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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