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Peter Hambro Mining - Share price mirrors gold volatility

September 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.

Shares in Peter Hambro Mining have been difficult to call recently, largely because they have slavishly followed the highly volatile gold price, which has oscillated violently between a high of US$720 per ounce before dropping like a stone to US$560. But the good news is that it has stabilised at over US$630 per ounce, a level few would have dared predict even two years ago. This leaves Hambro in confident form and its half yearly trading statement was in line with expectations with total attributable production rising 6% to 108,363 ounces, while the group remains on track to achieve its production target of 250,000 ounces for the full year. The biggest driver was its Pokrovskiy mine, which increased production by 11% to 84,600 ...

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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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Peter Hambro Mining - Share price mirrors gold volatility

September 2006

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