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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Peter Hambro Mining

January 2007

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:
  • 1025p
The shares reacted badly to news that the Russian environmental watchdog has threatened to take back five of its licences covering assets at its Yamalzoloto operations, which were acquired in April 2004. The reason given was that the company hadn’t disclosed data concerning work in progress and has also allegedly infringed environmental legislation. Hambro has booked total current resources of 5.6m ounces (3.6m being in the riskiest category) for these licences although none currently produce any gold and they are also not part of its ambitious plan to achieve over 1m ounces of gold by 2009. At face value the share price fall appears overdone but there is a small risk that this could be the start ...

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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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