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Secondary Recommendation

Peter Hambro Mining - Second mine starts producing

November 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:
  • 1266p
The latest surge in the price of gold has once again focusedinvestors’ attention on Russian gold miner Peter Hambro Mining (PHM)(FT sector: AIM, Mining), which offers that rare combination of dynamicproduction growth and speculative exploration upside. PHM offersbitter-sweet memories for us. We originally tipped them way back inJuly 2002 when the price was just 129p and again in February ’04 at385p but our most recent buy recommendation in March last year at 1305pwas seemingly a bridge too far. The irony was that its subsequent slumpthrough our 895p stop-loss was not a company specific problem butrather a political issue related to increased scrutiny by the Russianregulator of Western companies’ oil & gas and mining licences an ...

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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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