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Peter Hambro Mining - Operating costs sharply reduced

September 2004

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
Peter Hambro has confirmed that it is on track to meet its 2004 production target of 204,000 oz of gold, while its attributable production is up 52% to 72,541 oz for the first half of the year.  This comprised 60,000 oz from its Pokrovskiy mine and 12,540 oz from its 50% stake in Omchak.   Other highlights included news that operating costs at Pokrovskiy were reduced substantially, while pre-stripping and additional sampling of its Pioneer mine has confirmedthat the group's estimate of the average grade of ore being 14g/t is achievable.   Production at Pioneer is scheduled to start this September.   Earlier, Peter Hambro Mining announced the proposed acquisition of the Ametistovoye deposit, si ...

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