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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Peter Hambro Mining - First contribution from Pioneer

September 2008

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:
  • 928p
In its pre-close statement covering the six months to 30 June Russian gold miner Peter Hambro announced that total attributable production was 147,000 oz, a 9% increase over the same period last year. The average realised gold sales price was US$901 / oz, up 35% over the same period last year, while unit costs were in line with expectations although no numbers were given.The company's flagship mine at Pokrovskiy produced 127,800 oz (up 9%), while the Omchak joint venture contributed 8,400 oz and the new mine at Pioneer produced a first time contribution of 3,600 oz. While the latter was slightly below expectations because of certain start-up issues, it is still expected to produce 72,000 oz over the full year. As a result, the dir ...

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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