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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Peter Hambro Mining - Canaccord raises price target from £13 to £18

June 2006

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:
  • 1207p
After hitting a new high of over £17, shares in Peter Hambro Mining have fallen back following a retracement in the gold price. Nevertheless, its final results did contain some pleasant surprises. Overall, production for the year ended 31 December was as expected at 249,000 ounces, up from 209,000 in 2004, while its target for the current year is 250,000 ounces and it remains on track to deliver its 1m ounce target by 2009. Hambro achieved an average gold price of US$442 / ounce (up from $402) and this led to a retained profit of US$13.3m, which was down 13%. This mainly reflected global increases in raw materials and energy costs as well as the switch to expensing development costs, which was flagged in its recent trading statemen ...

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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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