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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.

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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Peter Hambro Mining - Production forecasts upgraded (September 2009)

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Peter Hambro Mining - New production plan envisages 1m oz in 2012 on â€˜high case scenarioâ€™ (April 2009)

Peter Hambro Mining - Well placed to exploit strong gold price (March 2009)

Peter Hambro Mining - Potential take-over of Aricom would erase funding concerns (February 2009)

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Peter Hambro Mining - Operating margins rise sharply (June 2008)

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Peter Hambro Mining - Soaring gold price lifts shares (February 2008)

Peter Hambro Mining - On track to increase gold production towards 500,000 oz in 2008 (January 2008)

Peter Hambro Mining - Second mine starts producing (November 2007)

Peter Hambro Mining - Shares fall through stop-loss (February 2007)

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Peter Hambro Mining - Acquires laboratory business (December 2006)

Peter Hambro Mining (November 2006)

Peter Hambro Mining - Share price mirrors gold volatility (September 2006)

Peter Hambro Mining - Canaccord raises price target from Â£13 to Â£18 (June 2006)

Peter Hambro Mining (May 2006)

Peter Hambro Mining - Shares rocket after production target is raised to 1.2m ounces by 2009 (March 2006)

Peter Hambro Mining - Canaccord ups price target to 1050p (November 2005)

Peter Hambro Mining - High gold grades at Pioneer (September 2005)

Peter Hambro Mining (June 2005)

Peter Hambro Mining - Gold miner aiming to produce one million ounces a year by 2009 (April 2005)

Peter Hambro Mining - Substantiall higher grades of gold found at Pioneer deposit (November 2004)

Peter Hambro Mining - Operating costs sharply reduced (September 2004)

Peter Hambro Mining - £40m fund raising (June 2004)

Peter Hambro Mining - Gain to date: 329% (May 2004)

Peter Hambro Mining - Upgrade to estimated gold reserves (April 2004)

Peter Hambro Mining - Fast growing Russian goldminer (February 2004)

Peter Hambro Mining - Huge upgrade in gold reserves (April 2003)

Peter Hambro Mining - Exciting recent gold issue (July 2002)

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 - First contribution from Pioneer

September 2008

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