Up 4% this morning following IC recommendations. Wide spread I think, but the IC article says Hambledon are working on a Russian exploration in Sekisovskoye, which it recently acquired.

Seymour Pierce analyst apparently have a price target of 9.2, but depending on outcome of Russian exploration this could go a good deal higher.

Interesting, but DYOR please.

Further comments attached:

LONDON (AFX) - 'Buy' advice from the Investors Chronicle gave a boost to Hambledon Mining, 0.50 ahead at 6.50 pence. The magazine pointed to Seymour Pierce's target price of 9.2 pence is based on a valuation of gold in the ground of a rather mean 18 usd an oz.
One Hambledon completes its appraisal and moves more ounces into the recognised Australian JORC category, that target price may have to be revised upwards. But even before then, with the gold price remaining strong, the outlook is very positive

Moving up very nicely - 27% on yesterdays close. IC certainly having an impact here...

For interest....http://www.minesite.com/forums/010205/hambledon.pdf

this was written up in Shares mag a week or so ago, thought i t looked like a decent play...may have a few when i next sell a holding...

one for the patient though, lack of cash meant they scaled back initial production if i remeber correctly...

g6496,

Thanks for the link for the PDF file, looks interesting.

Announcement today & shares up 12% in early trading - has done well over the last month or so....


Hambledon Mining PLC
09 March 2005


HAMBLEDON MINING PLC
Open pit project to go ahead

Hambledon Mining Plc, an AIM-listed mining and exploration company developing
precious metal deposits in Kazakhstan, announces that, on the basis of the
excellent results of the fast-tracked feasibility study of the open pit area, it
has been decided to progress this part of the project. The open pit area
accounts for approximately 7% of the estimated 2.8 million ounces of resources
of the Sekisovskoye/Tserkovka complex. The feasibility study into the
development of the much larger underground mine and exploration of the adjacent
Tserkovka licence area is continuing and a further announcement regarding
developments is expected to be made in June 2005.

Highlights

* Total open pit resources 183,000 ounces, 83% up on flotation figure, June
2004
* Grade 1.6 grammes per tonne, 13% higher than June 2004
* 3.6 million tonnes, 63% higher than June 2004
* Waste to ore ratio very low at 1.2:1
* Indications that grade may be up to 20% higher
* Mining rate of 600,000 tonnes per year (20% increase on initial plans)
* 95% metallurgical recovery
* Annual output 30-35,000 ounces from open pit, rising to up to 110,000
ounces when underground ore is substituted
* Open pit mine life - six years
* Commencing spring 2006

Nicholas Bridgen, Chief Executive of Hambledon Mining plc commented:

'We are delighted with the progress the Company has made since flotation last
June. The initial open pit phase of the project has proved much more encouraging
than we originally anticipated. With a breakeven of $245 per an ounce, it is an
extremely attractive project in its own right, but literally only scratches the
surface of the potential reserves within the whole complex.'

'Fast-tracking this profitable, low-risk project will provide near-term
cash-flow to assist in the development of the more significant underground
project at Sekisovskoye, itself a precursor to the development of a much larger
area.'

9th March 2005

ENQUIRIES:

Hambledon Mining Plc Tel: +44 870 111 8778
Nicholas Bridgen, Chief Executive or: +7 300 733 8915

Bankside Consultants Tel: 0207 444 4140
Michael Spriggs/Michael Padley

The full geological report will be available on the Company web site on Thursday
10th March 2005.

Project Development

Open pit project
Two significant factors we have identified have resulted in a change in the
approach to the development of the deposit. Previously, it was believed that the
open pit and underground ores from Sekisovskoye would be developed
simultaneously, with the open pit material being only a short-term stopgap
whilst the underground ore was developed. Since then, the Company has announced,
in November 2004, the acquisition of the 39 square kilometre area surrounding
Sekisovskoye known as Tserkovka which contained several significant extensions
of the Sekisovskoye mineralisation. In January, the Company announced its 2004
drilling results which were excellent and led to a plan to fast-track the
development of the open pit project on a stand-alone basis.

This is not only a profitable, low risk, way of starting the project, but also
allows the Company to take the time to develop a coordinated plan for the whole
Sekisovskoye/Tserkovka complex whilst benefiting from the cash flow and
experience that open pit production will bring.

Whilst the feasibility study is not yet fully complete, sufficient information
is now to hand for the Company to reach the conclusion that the open pit project
should go ahead. The remaining work will further refine the design parameters of
the project but is unlikely to result in any significant change in the design
concept, nor diminish its extremely robust economic viability. In order to
maintain the 'fast tracked' approach to this part of the Project, the Company
will now start the process of obtaining government approvals, land purchase and,
in the summer we will commence the initial building construction so that work
can then progress during winter.

A new geological model is being created which incorporates the 2004 drill
results and which also has greater sensitivity to low grade ore that was ignored
in previous Soviet models. This low grade ore lowers the average ore grade, but
is a good contributor to profits and minimises the waste to ore ratio.

The western boundary of the site is marked by the river Sekisovka. Though it may
prove possible to re-route this river, the conservative view has been taken that
this will be a permanent restraint, limiting the westward extensions of the
deposit to underground mining only. Nevertheless, the 2004 drilling programme,
together with the results of the remodelling of the open pit area discussed
above, have resulted in the identification of three main open pits, the
western-most of which was not included in previous plans.

Various scenarios have been examined with a view to both optimising net present
value and producing a mine plan that is robust against fluctuating gold prices.
Though net present value is optimised at a much larger size, the chosen scenario
sacrifices only nominal value for a greater profit per tonne, so that in the
event of falling gold prices, profits are still maintained at a reasonable
level. The chosen scenario has a break-even gold price of only $245 per ounce.

The selected scenario envisages the mining of 3.6 million tonnes of ore over six
years. As modelled, this will result in production of over 30,000 ounces (gold
equivalent) per year. Considerable evidence exists to suggest that the sample
grades resulting from Soviet era surface drilling were underestimated by around
20%. The current model is only partially derived from such underestimated
samples but, nevertheless, the Directors believe that production is likely to be
significantly higher.

The average ore grade within the pit is 1.6 grammes per tonne. Because of the
way in which the new geological model is compiled, this grade is already diluted
with internal waste, so no further dilution factor is needed to derive the
anticipated mined grade. Similarly, no additional mining losses are anticipated.
The waste to ore ratio will be very low at 1.2:1. Overall contract mining costs
for ore and waste have been quoted by an independent contractor at less than
$2.00 per tonne, giving a mined cost per tonne of ore of approximately $4 per
tonne. Further negotiation, or competitive quotes, may reduce this figure
further.

Geotechnical
As previously announced, geotechnical drilling has indicated very good rock
stability. This has lead to the use of steep open pit walls and will minimise
underground stability problems.

Hydrogeology
An assessment of available hydrogeological data has indicated that sufficient
data is already available for design and permitting purposes for underground
mining. Additional investigations required for environmental permitting of the
proposed plant site and tailings dam are scheduled for early spring 2005.

Mining Engineering
Initial open pit designs have been carried out by in-house mining engineers and
geologists. GeoMine Solutions of Johannesburg will complete the full feasibility
study.

SRK Consulting of Johannesburg has been appointed for the underground mine study
as well as the transition between open pit and underground.

Treatment plant
A considerable amount of metallurgical test-work was carried out in Soviet
times, and further bulk samples have now been tested at the Vniitsvietmiet
institute in Ust Kamenogorsk. Results from low, medium and high grade samples
have confirmed that the proposed treatment methods are appropriate and the
recovery from all grades is consistent with previous predictions of 95%
recovery. A complete physical and metallurgical testing programme has recently
begun at Ammtec in Australia on core samples from the recent drilling programme.
This programme will define all the design parameters for the milling, gravity,
leaching and neutralisation circuits.

The results to hand show that the initial gravity stage separation will extract
up to 40% of the gold, with the remainder coming from a conventional leach
plant. This plant uses established technology and is considered low in
technological risk. The treatment plant will be capable of treating not only ore
from the open pit, but also underground ore as it becomes available. Whilst the
open pit life is currently estimated at six years, it is possible that
underground ore or other ore from the newly acquired territories will be
substituted sooner, leading to an increase in production to up to 110,000 ounces
per year from the same plant.

Environmental
The ecological baseline study has been accepted by the authorities and the
environmental firm AsiaEcoLink has begun the next phase of the environmental
assessment.

About Hambledon Mining Plc
Hambledon Mining plc is an AIM listed mining and exploration company developing
precious metal deposits in Kazakhstan. It holds the rights to the Sekisovskoye
gold and silver deposit, on which the feasibility study is at an advanced stage,
and to the adjacent Tserkovka deposit and exploration areas.

Up in about 60% in just 3 weeks...very nice..whats the chance of it continuing?

...i guess another 8% today means it will!

AIM-listed Hambledon Mining says it will proceed with the open-pit mining phase of its Sekisovskoye gold project in Kazakhstan after positive results were returned from a feasibility study...

I read that further news expected early June as well..

Bought-in today just under 9p.

I guess finals (maiden) will be in April, which even if it does not provide much extra info (I think we're fairly well in the picture now), should help give a little exposure.

Good to see you here, Andy.

Was mentioned in Sat.2/7/05 telelegraph regarding the Co under Small caps .
This wks update confirmed there is likley to be apr3.5m ozs compared to proir estimaites of 2.5ml ozs
with gold near surface it should be cheap to mine
Houes broker seymore pierce has target price of 0.26p based on value of gold@ prestent price is speculative Buy

Hambledon Mining - from Daily Telegraph

HAMBLEDON Mining may finally have struck gold. The explorer has received an important permit from the Kazakh authorities which will allow it to proceed with the development with the Sekisovskoye gold mine. This should allow mining by the end of the year. As the gold is near the surface, the mining should be relatively easy. The company has hired 100 out of the 250 workers needed.

Some UK companies have experienced difficulties doing business with Kazakhstan. But readers should hold on, following our recommendation at 8p last year. This week the shares hit 14p. House broker Seymour Pierce has raised its target price to 33p. Keep on buying.

Bought in this morning @ 14.24p (small time but will top up at these levels.)
In for the med/long term on these but all the write ups I've seen for HMB has been impressive.
Of course, HMB has to now deliver when they are expected to before we see SP upside but for the moment it all looks good. (imho)

ooops ! sorry 'bout that guys... I bought in and the sp has dropped... typical me!
It was a decision between this and MSQ (or GMC) looks as though HMB has a bit further to fall afterall ? :(
(Going into MSQ or GMC next week )

I selected the shares on the UPS thread this morning........

"UPS"

HMB 13.25 - 13.75p
Bouncing from support after being at oversold on the Indicators,
large volume for the last couple days,
has lately update on doubling the estimates to 2.7M oz of gold,
production start next year, Gold prices going higher lately
and MMs are bidding 13.50p for the shares online

imho sp is cheap as chips ! good time to top up...

skyhigh --i was in from the start and top-up when cash comes available---out
of my 28 high risk investments this is the safest - it's a no brainer imo baring
a 40% drop in POG, which we think we know is most doughtful. Also topped up
with some more Avocet (no ramp ) @ 1.74--- both will bring happy christmas !!!

Just jumped aboard @ 14.4p & was wondering why this has really not moved much at all, seeing as any news regarding gold recently has been nothing but good ? Add to this cheap extraction & the price at the mo has to be appetising or have i missed something that's not obvious ? Surely this has a long way to go IMHO. Any other views would be most welcome

Recently bought into this company, at less than 15p. With production just weeks
away i feel fortunate to have got in at such a price. 1st production expected in
2nd quarter, so June we should have output if all goes to plan?
cyril

House broker Seymours say the company is massively undervalued

cool! bring it on!

Production is delayed more likely to be July/August. Seymours feel its
undervalued by 3, which suggests 40p+?
cyril

Seymours tipped it at around 14-16p which suggests 48p target.

Bought into these this afternoon. Interesting play in mining, would appear to be undervalued on forward earnings and potential take-over target in future?
.

Welcome aboard andysmith...the more the merryer! ...onwards and upwards

good decision andy..they are tipped to see 30p and from last release things going well..see you on the upside soon
watcher

Good strong buying again today.

All that strong buying over the last 2 or 3 days , and the change in the price is ? ZILCH !!
I'll never understand this game. - but i'm sitting tight waiting for my reward.

the s.p. is under pressure as yet again some strong buying..nice place to be

watcher

so after a big buy today where does the s.p. go? nowhere..there has got to be a reason for the hold back..watch this space for rocket up

watcher

okay!

Ive been watching this and very suprised the SP hasnt started to rise!!

join the club..patients i think will be rewarded

watcher

Looks like good progress being made...onwards and upwards!

Hambledon Mining PLC
17 July 2007
AGM Statement
At today's Annual General Meeting of Hambledon Mining Plc (the 'Company'), the
AIM-listed mining and exploration company developing precious metal deposits in
Kazakhstan, the Chairman, George Eccles, commented:

'I am pleased to say that the considerable progress in 2006 has continued into
the current year. At Sekisovskoye the processing facilities are nearing
completion with some parts of the plant already being commissioned, all major
equipment is on site and the mining operations are continuing smoothly.


'At Ognevka refurbishment has commenced.


'The Board remain optimistic about the prospects for the Company.'


17th July 2007

All resolutions were duly passed.


Enquiries

Hambledon Mining plc
Nicholas Bridgen, Chief Executive Telephone: +7 701 733 8915


Seymour Pierce
Nicola Marrin Telephone: +44 207 107 8018


Bankside Consultants
Michael Spriggs / Michael Padley Telephone: +44 207 367 8888


Note to Editors'

Hambledon Mining plc is an AIM-listed mining and exploration company which is
developing an open pit mine and constructing an 850,000 tonnes per year
treatment plant at its Sekisovskoye gold deposit in East Kazakhstan. After the
start of open pit processing, the Company plans to develop the much larger
underground resources.


Production from the open pit will average over 40,000 ounces per annum for five
years, though this is expected to rise to around 100,000 ounces when the higher
grade underground ore is added to the feed. The Company also holds the rights to
and is exploring the adjacent Tserkovka licence territory which includes several
areas of interest including the Tserkovka deposit itself.

Couple of earlier research reports.

Might be worth a punt now imo.


http://www.minesite.com/fileadmin/content/companies/1182_BROKER_0_Hambledon_Mining_20-02-07.pdf

http://www.minesite.com/fileadmin/content/pdfs/Brokers_Notes_3/16_May_-_Hambledon_Mining.pdf

Also had this "free" email tip from the AIM Newletter in May 07


"Buy Hambledon Mining at 16.75p

Argues the award winning Aim & Plus Newsletter

Hambledon Mining (HMB) is an AIM-listed gold mining company working in the mineral-rich Altai region of East Kazakhstan. It is mining an open pit and stockpiling ore in readiness for the completion of an 850,000-tonnes-per-year treatment plant at its Sekisovskoye gold deposit. Once processing is underway, Hambledon will start to develop the much larger underground resource.

Hambledon owns 100% of Sekisovskoye, which holds two adjacent licence areas - Sekisovskoye and Tserkovka - with gold resources totalling 3.4 million ounces. And it expects to soon be awarded two more adjacent territories, Glinka and Krugliachka.

The Sekisovskoye deposit is located around 40 kilometres from the East Kazakhstan regional capital and is connected by a sealed road that provides the main route to Russia. The deposit was discovered in 1833 and surface mining took place for almost a century until the 1980s. Further exploration has been carried out since 2003 and mining operations recommenced in June 2006. Until the processing plant is established, mining is focused on pre-stripping so that waste material can be used for the construction of the tailings dam and other facilities.

Altai Kenbai-itu, which is also fully owned by Hambledon, is constructing the treatment plant on site and this is expected to start up in the next three months. The plant will be capable of treating both open-pit ore and underground ore when this becomes available. Initial production from open pit mining will be around 40,000 ounces per year, rising to over 100,000 ounces as underground ore is extracted. Further expansion is likely as exploration of the extensions bring the inferred resources into the indicated category, as well as the exploration of the newly-acquired territories.



In total, Hambledon owns JORC-compliant indicated and inferred resources of 2.6 million ounces of gold, together with a further 740,000 ounces of Soviet-categorised resources. The latest results relate back to interims, published last September. At that time Hambledon had cash of 9.8 million in the bank. It also flagged plans for a 42% expansion in planned process-plant capacity to 850,000 tones per year. To this end, in March it raised 10.4 million to fund the extra construction costs and purchased its own mining fleet which is now operational. The General Resource Estimate was approved by Kazakh authorities and the JORC estimate grew by 88% over the six months. The mine plan now shows an initial mining reserve estimate of 226,700 ounces of mainly open pittable ore. Work on the underground mine plan is ongoing and significant reserve increases are expected as the detailed design progresses.

Drilling has begun at the Tserkovka target and this should create additional newsflow in the coming months. Hambledon is now on the fast track to production, with the first pour of gold only a few months away.

Being on the brink of production, the company is largely de-risked from any severe delays to construction of the plant and for processing to begin. The much larger underground reserve can be tapped as soon as initial open-pit processing has begun. As the surrounding area is explored, we expect further resource upgrades. But the established reserve makes this a far from speculative play there is very real cash flow due in the next quarter.

In our valuation, we have assumed that the gold price remains at $620 per ounce for the current year, then have conservatively assumed a price of around $480 in year two, falling to the $420 level in years three, four and five. Of course, if the price is sustained at current levels then our numbers will be significantly increased.

The cost of tapping the established resource will be low. In undertaking the pre-strip, Hambledon encountered additional ore that was stacked in preparation for early processing. This, along with good equipment availability and productivity, will mean that Hambledon enjoys unit costs which are low by industry standards. However the cost of deeper mining is at this stage unclear. We have taken a cautious view and, as such, our projections merely represent the base-case scenario.

Sekisovskoye will produce 14,500 ounces of gold in 2007, rising to full-year contributions of 118,000 in 2009 and 138,800 in 2011. And, with our cautious gold price estimates, this equates to production revenues of 10.7 million in December 2007, creating pre-tax profits of 3.5 million and earnings of 0.8p per share. In 2008, revenues of 35.7 million translate to profits of 17.5 million and earnings of 4.1p, putting the stock on a multiple of just 4 times. Our base-case scenario, which is factored on indicated and inferred resources of 2.6 million ounces of gold (valued at $75 oz), values the shares at 28p. But if, as we expect, the resource increases the scope for that number to rise sharply is very real indeed. Broker Seymour Pierce reckons the shares are worth three times what they are now. Either way, at 16.75p the shares are clearly undervalued even without exploration upside and will, we believe, be re-rated once production is underway. Our initial target price represents an upside of 67%, with the potential for more (200% if you believe Seymour's case). Mining stocks are out of favour at present but in a case such as this where the fundamentals are so attractive, now is just the time to BUY.

This write up on the 27th July 07 as well :

http://www.proactiveinvestors.co.uk/articles/article.php?HMB

.

Good report, backs up decision to buy, anytime soon this should be re-rated

bought into this recently but its been going down ever since from 17.5p

good decision scott..they will move up once the market recovers and company developments become apparent..things very positive for this share..

watcher

ever since i bought this, its gone down...........i cant remember a blue day

yes, i finally bought in but............................NOTHING!!!!

i aint impresed! i aint a short term dealer but down about 20% already

No news of gold production starting although 3 months ago the plant was supposed to be nearing completion.

should get a very pleasing RNS announcing current and future production output status soon.

is that a finger's crossed post..or definate RNS..in here for long haul due to production and prospect for big gain long term

watcher

me too.........i'm looking at least 35p but up to 50p

Interims due before the end of the month. Gold price heading for US$750 per ounce cant be bad for HMB.

Will make interesting reading and hopefully they will announce production?
A caution for those expecting instant increase in the SP, taking the examples of GFM and KMR it does not work like that. With the market already factoring in
such news so a gradual increase is more the norm,and in todays clmate who
knows?
cyril

a gradual increase would be fine by me..spikes always mean taking profits and ups and downs..

good luck all
watcher

This 4th September report has coverage of HMB amongst others :

http://www.fdcap.com/research/companyreports/FDCGoldSectorReport4September2007.pdf


.

http://www.investegate.co.uk/article.aspx?id=200709170700469122D


Hambledon Mining PLC
17 September 2007

HAMBLEDON MINING PLC
(AIM: HMB)
Interim Results

Two producing assets before year end

Hambledon Mining plc ('Hambledon' or the 'Group' or the 'Company'), an
AIM-listed mining and exploration company on the cusp of gold, silver and copper production from two operations in Kazakhstan, announces its results for the half year ended 30 June 2007.

Highlights

Grade control data shows 79 per cent increase in contained gold compared
with the geological model at 480 metre level

Sekisovskoye processing facility completion expected in 4th Quarter 2007

Ecological and operating permits received

Start-up of Ognevka processing plant expected in October

US$16 million raised

Exploration activities continue: over 5,000 metres drilled

Nicholas Bridgen, Chief Executive of Hambledon Mining plc, commented:

'The increase in contained gold shown by our grade control sampling is even more dramatic than previously announced. This reinforces our geologists' conviction that the out-turn at this complex deposit will be far better than we have so far been able to demonstrate and, if so, it will extend the life of the open pit, reduce the stripping ratio and cut the cash costs per ounce.

Despite the late delivery of some of our equipment and the slow working of some
contractors, we still expect our first gold production before the end of the
year.

The Ognevka processing plant refurbishment is on schedule with production
expected to commence in late October and the first revenues expected before the
end of the year.'

Comment from Rebecca (from "The AIM & PLUS Newsletter" www.aimnewsletter.co.uk) over at www.sharecrazy.com :

"rebecca

Re: Hambledon Mining #402605 - 17/09/07 09:25 AM

Hambledon is a gold producer but the valuation is more in line with a junior explorer. The recent rise in the gold price supports our AIM & PLUS valuation of 45p a share (although Seymour Pierce has 53p) implying enormous upside."

Agree as soon as they start pouring gold. Sounds as though their profit margins will have to be revised upwards.

From the Seymour 17th Sept 07 update :

"Nearly there

Hambledon Mining has released its interim results for the six months to
June. These figures cover the period before the start of production and
are unrepresentative of the potential for the group following the projected
start-up of both the Sekisovskoye and Ognevka operations in Kazakhstan.

For the record, the company reported a pre-tax loss of just under 1.0m,
which included the write-off of 0.2m of exploration costs at the Tserkovka
property. This followed the receipt of drilling results that were
disappointing, albeit that further deep holes are planned in the second half
to determine the veracity of the geological model. Additional exploration is
planned on the companys other landholdings from the start of 2008.

The company has been making progress at the Ognevka project more
quickly than we had anticipated particularly following the delay in the
transfer of the licence, which was not completed until May. Admittedly, the
plant had been well looked after while it was under care and maintenance
so it now appears that it should be in a position to recommence
operations in October perhaps a month or two ahead of schedule.

The Sekisovskoye plant start-up has been delayed by the knock-on
effects of the late delivery of the ball mills from the Russian suppliers. In
particular, the lack of technically qualified staff means that the contractors
slipped behind with the wiring and pipe-work necessary to complete the
plant. Nevertheless, it has enabled part-commissioning, which should
reduce the risk of start-up problems.

While the delays at Sekisovskoye are disappointing, the group appears
close to cash generation at Ognevka. Furthermore, with scope for a quick
start-up at Sekisovskoye, when the plant is completed, the company
should start generating cash relatively soon thereafter. We also anticipate
newsflow on the underground mine plan at Sekisovskoye and the
metallurgical testwork on the tailings at Ognevka before year-end.

We believe that there is considerable scope for advance at Hambledon
over the next three months. To take advantage of this we believe that now
must be the right time to buy the companys shares. Buy."


http://www.capmarkets.com/ViewFile.asp?ID1=76303&ID2=172929621&ssid=1&directory=11013&bm=0&filename=17_September_-_Hambledon_Mining.pdf

topped up this morning with my GTL proceeds, having lost 50% with GTL I'm hoping to recoup it with HMB over the few months!

Gold price touted to $800, some even quote $20 in the coming turbulent years. This is a great opportunity not to be missed. Looking at GFM as well, seems to have been forgotten lately.

HMB moving nicely today.

i watched a gold chartist on tv and he said put a "1" in front of gold price now in say 5 years time

For those that wish to know :

L2 1 v 2 @19.25/19.5 (SEYP and KBC on the offer).


One Line Limits are :

BUY 1K @ 19.5p (yes just 1K at full offer price)

SELL 250K @ 19.35p

SP up, 21p and almost 3million shares traded so far today.
cyril

Stonkingly good day :-), cleared my NRK loss, keeping the faith with gold these days.

Some heavy buying, which would tend to suggest institutional interest. A firm hold for the coming 6 months and we should be looking at at least 50% gains from here, imv.

Shake over.

L2 now 2 v 4 @20.25/21

On Line Limits are :


BUY 10K @ 20.96p

SELL 50K @ 20.58p

I've been topping up here for the medium term.

http://www.minesite.com/fileadmin/content/pdfs/Brokers_Notes_3/16_May_-_Hambledon_Mining.pdf

16th May 2007 at @14.5p (and so implied trading price of 43.5p)

"................Against the US$138/oz of resource and US$5,778/oz of annual production paid by Kazakhmys for Eurasia Gold we estimate that Hambledon is
currently on values US$34/oz and US$1,677/oz, respectively. While
Eurasias rating reflected its restricted free float we believe that
Hambledon should be trading at least at 3 times its current level. BUY........."

papal, thanks for broker update.

Write up on TMF from the 20th Sept :

http://www.fool.co.uk/news/investing/company-comment/2007/09/20/bitten-by-the-mining-bug.aspx


.

just catching up with the s.p. so we aren't getting it all our own way ref the creep up..but gold rising and production progressing..very happy to hold

watcher..back to the footy

Turning back up now and mining set to stay in key focus going forward.

switch into lrl if you want to make real money

http://www.resourceinvestor.com/pebble.asp?relid=36355

Wall Street Pumps Up Gold

By Ben Abelson
08 Oct 2007 at 01:56 PM GMT-04:00

CHICAGO (ResourceInvestor.com) -- Just as with their buy-side brethren, bulge-bracket Wall Street analysts are often perversely incentivized to..............................................................

don't really know anything about this company, though "friend" Greyhound is a fan which is why i have posted a chart ..... looking at it, i would not be at all surprised to see sp drop back to 50 dma at about 17.75 or even 200 dma at 16.25 ..... given sp's reluctance to breach that level downwards, that would certainly seem to be a good entry level - always assuming you want the stock in your portfolio!

Showing a bit of strength today, good to see, as this has plenty of upside potential.........

Not too long before the expected update I surmise. Another $10 on gold adding to the upward pressure.

A good day, lets hope some news is in the offing this week or next. I'll be happy when we get a break through 25p - although that may need the awaited news on production starting.......

Opened up strong, 2 MM's moved up already.

L2 now 3 v 1 @19.5/20 with just SCAP being the one on the offer at 20p.

Further $8 on gold price, going into orbit at the moment.

On Line Limits presently, for info :


BUY 10K @ 19.95p

SELL 250K @ 19.65p


Suggests things are strong and price might be moving higher again soon.......

On Line Limits now :

BUY 50K @ 20.49p

SELL 75K @ 20.25p


L2 is 6 v 6 @ 20/21


So trades going through now at 20.49p which is just under the advertised mid price of 20.50 are in fact buys, and not sells.

Some nice chunky buys today.

L2 presently 1 v 1 @ 19.5/20

SEYP bidding 19.5 and KBC offering 20

Looks as though it's being held back a little to fill some orders...

Perhaps we can start to expect an update on Ognevka in the coming days to start the stream of revenues. Fun times ahead I suspect.

Nice close.....normally a Friday into close like that would suggest news is coming in the week ahead.

Something is due, so perhaps there might be.

Would be nice, something to cheer about?
cyril

L2 is nearly all blue now, 3 v 2 @ 20.25/20.75

WINS and SEYP on the offer.


100K buy gone through at 21p, so a tick up should not be far away perhaps.

There it pops.

L2 now all blue and 2 v 2 @20.5/21 (KBC and SEYP on the offer at 21p)

Squeezing higher again as the timeframe for updates decreases. And still looking cheap.

L2 solid blue :

5 v 1 @21/21.75 just WINS on 21.75p offer, all the others on 22p

I have to consider increasing my holding here as the momentum grows...trouble is what to sell - certainly nothing in this sector.

If you tell us what you've got - we'll advise what to sell ?

(all in our humble opinion of course!)

Thanks Sky, rhetorical question really. I don't want to sell any of my holdings as all looking good so may just have to find some cash from somewhere.

ok...be interested to know what people hold.
For what it's worth.. I'm also into CGX, PXS, PST, IVE, MLR, REDT, MVW, NPE, VOG, EDD,MDC

i also hold damn VOG but too late to sell now. Got a big portfolio though with mixture of aggressive and large boys.

hope u do well in your picks sky

I've been buying up more stock this morning and done for now.

On the move again today :


For reference, On Line Limits are :

BUY 15K @ 21.98p

SELL 100 K @ 21.63p


L2 is blue and after the latest moves up its now 2 v 4 @ 21.5/22

Gold breaks the psychological $800 level to 27 year highs, currently trading up $17 at $804.

Only a matter of time before we start to hear news here, hopefully in the next couple of weeks.

On Line Limits :

BUY 100K @ 21.95p

SELL 100K @ 21.58p


L2 is 4 v 2 @ 21.5/22 with one MM move up today.

Interesting article on gold today in FTfm section page 14 "Treading the foothills of a gold bull market" ... last line..." so even at about $800 an ounce, the real gold bull market has not begun".

Could be ready to start edging higher again as the sector hots up.

certainly looks an interesting little company, though would like to have heard that their processing plant was now up and running - forecast to open mid last month.

i don't think this is a stock at which to throw too much cash, especially in today's very difficult markets and the arguably over-inflated level of bullion - i.e. surely there has to be a significant reaction, not least because $ (surely!) cannot continue plumbing new depths.

in conclusion, HMB is certainly a better "dabble" than many that are hyped on this BB ...... at least HMB has something solid on which to base assessment rather than just blue sky and unproven prospects

News should be imminent and then we're a producer here and revenues are expected before year end. Some of the bullish research I've read was done on gold between $400-600. As you say there's a real end product here, and a valuable one. Updates on reserves from independent Australian pros could also give upgrades.

Still under-valued even at this price and as Greyhound says, based upon much lower gold prices. Held up well in cuurent market. Might add?

I'm thinking of adding more too, except I'm already overweight and overweight the whole sector, not that it's proving a bad move. Convinced we're about to tick higher again....just have to be patient.

have allowed myself to be suckered in ..... hope it performs better than VIY and VML and GOO!

Now I feel a tad responsible! I really think it's an excellent company with great prospects ahead. It does have the assets and a revenue stream by year end does not appear to have drawn a great deal of attention yet - which is why I should buy more. Good luck - I don't think it's like being suckered in with VML, SEO....

I'm pleased to see you omitted VIY there Greyhound! (though its graph is looking pretty awful at present, I must admit).

SEO has certainly been a total joke and was so before i joined this BB ...... have posted my views there many times ..... frankly i have no sympathy for holders of this stock, as also with SUB .....

VML may well come good ..... at least they don't deem to have done anything wrong.

CEY was also a good bet a couple of months back, and though suggested to me, i never took it up ..... now prob too late as sp has moved from 50 to 70

hmmmm well i guess it was about time i bought into a producer... a small slice cant hurt... hi guys, im in.

Good stuff! well done BT.... the more the merrier! and all that...

Well that was short lived, got stopped out @20p this morning... oh well, cant win em all... lol

i confess that having allowed myself to be suckered in, i am now concerned that the expected news of the processing plant starting up is now overdue ..... still, at least that is less frightening than waiting to hear overdue oil drilling results!

I can hold shares with varying views, normally i maintain a longer term view and know how yesterdays losses can easily become todays gains, and vica-versa, however in current market i am sticking to tight stop losses, too many times i have allowed losses to increase and waited for months (or even years) for the sp to come back, this one may bounce back up to 22p and beyond shortly, but for me, its heading in the wrong direction and therefore has to go...

good discipline ..... that is why i reluctantly ditched the balance of my POG holding this morning

I am still holding, quite happy. The news will come, all we are seeing here is some stops falling in bad market conditions, and so it falls with minimal buyers.

As and when, it will rise back again.

Nothing wrong with stop losses however depending on your strategy the danger of tight stop losses in a volatile market is you get taken out. So, ok you know your loss is limited but a few hours later the story "could" be totally different. Yesterday was a US holiday, volumes/trading has depicted that partly, dollar now getting hammered again. The story changes quickly.

Sorry to think you were "suckered" into Hambledon cynic. I still believe the story is good and a few weeks here or there is nothing for a mining share. Results in Sep, said Sekisovskoye processing completion in Q4 and Ognevka processing plant expected in Oct.

i'll let you know in due course whether or not i feel suckered or giving big hugs .... lol!

pleasse note that October has now passed!

suckered for getting out maybe - lol.

That's on time if you ask a rail company.

Start-up of Ognevka processing plant expected in October ...... that statement was made in mid September, and though perhaps i am being very pedantic, one would have thought that a further announcement was warranted at the very least ...... and at the same time a progress report on Sekisovskoye processing facility completion expected in 4th Quarter 2007

Hambledon Mining plc ("Hambledon" or the "Group" or the "Company"), the AIM-listed mining and processing company operating in Kazakhstan, is pleased to announce continuing progress in mining, construction and commissioning of the Sekisovskoye gold project and the Ognevka treatment plant for production of copper/gold/silver concentrates.

Highlights

Sekisovskoye:


*1.3 million cubic metres of material moved since the start of operations
*Stockpile of 145,000 tonnes of ore with a grade of 1.46 grammes per tonne


*Mill commissioning commenced, production scheduled to start mid December


*Mining costs lower than projected


Ognevka:

*Test work confirms expected metallurgical recoveries

*Refurbishment of process plant nearing completion and commissioning

started

*Production scheduled to start in early December

*Sampling and testwork of the pegmatite tailings has commenced

Finance:

*Placing of 22,967,606 shares to raise approximately #4 million before

expenses

Nicholas Bridgen, Chief Executive of Hambledon Mining plc, commented:

"Both projects are nearing completion and will become operational very shortly. Sekisovskoye has been delayed by the late delivery of equipment and an acute shortage of skilled construction staff, but everything is now in place and we are expecting our first gold bar by Kazakhstan's Independence Day on 16th December.

"Our expectations for Ognevka have always been far higher than its small purchase price indicated, so it is very good news to have these expectations confirmed by the testwork and sampling that we have carried out. The refurbishment of Ognevka is on budget and we appear to have acquired a very valuable asset for a very low price."

Enquiries

Hambledon Mining plc Nicholas Bridgen, Chief Executive Telephone: +7 701 733 8915 +44 7791 327180

Bankside Consultants Michael Spriggs / Michael Padley Telephone: +4420 7367 8888

Seymour Pierce Nicola Marrin Telephone: +4420 7107 8000

Sekisovskoye

Mining operations have continued and the initial tailings dam has been completed. Over 145,000 tonnes of ore grading 1.46 g/t Au have been stockpiled pending milling start-up. Mining efficiencies have exceeded expectations and mining costs are lower than projected. Some 1.29 million cubic metres of materials had been moved by the end of October 2007.

In addition to the Company's mining fleet, which has been operating for over a year now, the Company has purchased its own tailings dam construction fleet, including two MoAZ scrapers, a second Dressta 534 front-end loader and two KamAZ, 20 tonne capacity trucks. Most of this equipment has now arrived and will allow all future tailings dam construction for the project to be carried out by Sekisovskoye, resulting in considerable cost savings in tailings dam construction over the life of the mine.

A feasibility study on the development of the large underground ore resource is nearing completion by AMC Consultants (Perth, Australia). Underground mine development is expected to begin late in 2008 through a decline roadway intercepting Orebody 11, a near surface high grade ore zone. This access roadway will ultimately tie in with the existing underground infrastructure on the 320 level (120 metres below surface), thereby allowing relatively easy access to the other ore zones.

Mill construction is nearing completion and commissioning activities have commenced. The crushing plant is already operating to produce gravel for roadways and other construction purposes but will be switched to crushing ore once the mill is started. Various items of mill equipment have now been test-run, including Ball Mill 3, the smaller leach and reagent agitators, sump pumps, water pumps and the vibrating screens. All the main electrical cabling is complete, including backup power for emergencies, and water pipelines have been pressure and leak tested. Following the very late delivery of our main ball mills, installation is now complete and test running is imminent.

All permitting is in place with the exception of the hazardous chemicals storage and cyanide use licences, which have been affected by recent changes to Kazakhstan legislation. We have completed all requirements and are expecting the granting of the licences by the end of November 2007. Start-up of operations is expected to commence soon after.

Initial gold production is expected to be 40,000 oz per year increasing to 100,000 oz per year when higher grade underground ore is processed.

Geology & exploration

As part of mining grade control activities, some 220 angle drill holes have been drilled in the current and near-term mining areas to provide additional information for the orebody model. As previously announced, a significant increase in contained gold has been indicated compared with the model on which the Company's estimate of resources is based.

Exploration drilling has focussed on several significant targets within the main Sekisovskoye lease area, most of which are known or projected extensions of the main Sekisovskoye ore zones. Certain targets on the Tserkovka licence area remain to be explored and a decision will be taken on these next year.

Ognevka processing facility

The processing facility is configured to treat up to 350,000 tonnes per year of the copper, gold and silver-containing residues (sinter slag or "clinker") from the zinc smelters in East Kazakhstan and Russia. A single concentrate containing the copper gold and silver will be produced for sale to copper smelters and by-product concentrates of iron and coke will be sold separately.

Initial production will involve the re-treatment of 150,000 tonnes of high grade tailings of previously treated clinker. Thereafter, clinker will be procured from other companies that have large stockpiles, for which they currently pay environmental penalties. The flexibility of the plant will allow for the treatment of various other feedstocks, including feldspar tailings (recovery of saleable feldspar, lithium and tantalum concentrates), pegmatite ores (tantalum, tin, mica and feldspar concentrates) or other clinker or smelter slags containing valuable metals, via gravity, magnetic separation or flotation methodologies. The plant building has been expanded to allow for an increase in throughput.

Refurbishment of the processing and infrastructure facilities, including replacement of key equipment items, is very near completion, and test-running of all mills, vacuum pumps, tailings pumps, concentration devices, flotation cells, and the crushing plant has already taken place. Final installation and commissioning of new filters should be completed in November along with preparation of the tailings storage facility to allow for the start of production around the beginning of December 2007.

Although high in grade, clinkers are difficult to treat and expected metallurgical recoveries are low compared with those obtainable from primary ore. Although records had indicated the grades of clinker currently on site and the likely level of metallurgical recovery to be achieved, the Company chose to sample the clinker and to carry out testwork to confirm the choice of treatment regime and expected recoveries. Preliminary results have confirmed previous expectations:


Component Grade of Average grade of on-site Percentage of material
sample used clinkers determined from recovered in testwork
in test work sampling



Copper 1.15 % 2.1 % 58 %
Gold 2.6 g/t 1.22 g/t 32 %
Silver 120 g/t 118.7 g/t 51 %
Iron 23.2 % 24.3 % 46 %
Carbon 15.8 % n.a. 69 %


Work is outstanding to test the recoveries obtainable from further treatment regimes developed by the Company and these may result in higher recoveries than those indicated above.

The copper concentrate produced by this process is of lower grade than standard, resulting in a discount from customers compared with usual concentrate prices. Currently available prices are 45% of LME for copper content and 70% of spot metal prices for gold and silver. Toll-treatment options are being investigated which are likely to improve these terms significantly. At the expected metallurgical recoveries and currently available prices, the revenue from each tonne of clinker treated, including by-products, is expected to be over $75.

First production of copper-gold-silver concentrate is expected in early December 2007.

A sampling and testwork programme has already started on the potentially much more valuable pegmatite tailings. The pegmatite tailings include not only the main mineral, feldspar, but also high grades of lithium, beryllium, and other metals. The deposit, which contains the primary pegmatite, lies underneath the Ognevka processing plant and although the rights to this deposit are not currently held by the Company, consideration will be given to applying for these rights.

Placing

The Company previously announced that it had negotiated a loan facility with a local Kazakhstan bank for working capital and to complete the commissioning of the processing facilities. As a result of the international restrictions on the availability of credit in recent months the expected funds were not available and the Company sought a more certain means of funding. For this reason, the Company has placed 22,967,606 shares of newly issued stock to raise approximately #4 million before expenses. This sum is considered by the directors to be adequate to cover not just the immediate needs of the company but also a significant contingency in case of unexpected commissioning problems in either project. Any surplus will be used to accelerate the development of the underground mine at Sekisovskoye and the expansion of Ognevka.

Note to editors

Hambledon Mining plc is an AIM-listed gold mining and exploration company which is developing the Sekisovskoye gold mine and owns the Ognevka processing plant, both of which are close to Ust Kamenogorsk in East Kazakhstan.

At Sekisovskoye, the Company is mining from an open pit and constructing an 850,000 tonnes per year treatment plant. Production from the open pit will average over 40,000 ounces per annum. After the start of open pit processing, the Company plans to develop the much larger underground resource that is expected to lead to a combined production rate of around 100,000 ounces per year.

The Ognevka processing plant is being refurbished and will produce concentrates containing gold, silver, copper, iron and coke from the re-treatment of zinc smelter residues.

Ends


This information is provided by RNS
The company news service from the London Stock Exchange

So both looking good for within the month. These operations always take time and a month/month and a half overdue is on time for a mining stock in my book. This should now start a bit of activity. Revenue stream and profits on the way.

From Sept interim report, approx 148,000tonnes stockpiled,now 145,000tonnes.
Does this mean they have started testing?
cyril

Nearly there now and well under-rated stock IMO. Good buying at end today and may be last chance to buy or add below 20p?

bought some more this morning... should be good press coming up in both I.C & Shares Mag (usually K'OD but we'll see) and hopefully in some weekend papers...hopefully we'll see a good rally in the build up to 16thDec !

Fox Davies Capital have a buy rec, target 25p.

again good call with the stoploss, might re-purchase those sold...

sp now at price of placed shares so no real surprise, good move now to buy or add.

Rec'd this from Peter Shearlock's small cap stock picks this morning...
Looks ecncouraging!

Hambledon - good news, bad news

Kazak miner Hambledon Mining has been a solid performer since I tipped the shares here in April last year. Then 12.75p, they have since been up to 22.5p. Last week, the company provided an update on its two projects the Sekisovskoye gold mine and the Ognevka gold/silver/copper/iron treatment plant. It also announced a 4 million placing at 17.75p to replace a credit line promised locally but which has failed to materialise. That was on a day of turmoil for the market and the shares have since come back to 17.5p.

As for the two projects, Sekisovskoye has suffered some equipment delays but should produce its first gold bar by Kazak independence day, 16 December. Test work at Ognevka appears to confirm Hambledons best hopes for metal recoveries and demonstrates what a brilliant acquisition the plant was. Production should commence early next month.

You should not be panicked into jumping clear yet. Even after the placing, Hambledon is capitalised at only 78 million. For a business that should shortly be producing gold at the rate of 40,000 ounces a year hopefully rising to 100,000 over time that is small potatoes.

Overdue a good rise after recent weakness imo.

bought some more this morning......

if we are on countdown to the gold bar day of the 16th december i am sure the s.p. will move up over next two weeks..which will help short term of course

watcher

http://www.investegate.co.uk/Article.aspx?id=200711300700548247I

Hambledon Mining PLC
30 November 2007


HAMBLEDON MINING PLC

Production commences at Ognevka


Hambledon Mining plc ('Hambledon' or the 'Group' or the 'Company'), the AIM-listed gold mining and processing company operating in Kazakhstan, is pleased to announce that production has started at its Ognevka treatment plant.

After a period of commissioning, the plant was started on 26th November 2007 and, following the resolution of some minor faults, full time treatment of clinker commenced on 29th November 2007. The Ognevka processing plant is designed to produce concentrates containing gold, silver, copper, iron and coke from the re-treatment of zinc smelter residues.

First indications are that the plant is operating as planned. The processing facility is configured to treat up to 350,000 tonnes per year of copper, gold and silver-containing residues (sinter slag or 'clinker') from the zinc smelters. The initially targeted rate of production will be 240,000 tonnes per year while the optimum operating parameters are assessed.

Initial production will involve the re-treatment of 150,000 tonnes of high grade tailings of previously treated clinker. Thereafter, clinker will be procured from other companies that have large stockpiles, for which they currently pay environmental penalties.

At the expected metallurgical recoveries and currently available prices, the revenue from each tonne of clinker treated, including by-products, is expected to be over $75. Toll-treatment options are being investigated which are likely to improve this figure to around $125 per tonne, though, the increase would be partly offset by the toll treatment charge.

The flexibility of the plant also allows for the treatment of various other feedstocks, including feldspar tailings (recovery of saleable feldspar, lithium and tantalum concentrates), pegmatite ores (tantalum, tin, mica and feldspar concentrates) or other slag via gravity, magnetic separation or flotation methodologies.


Nick Bridgen, Chief Executive, commented:

'The plant and related infrastructure at Ognevka have been stripped down and refurbished from top to bottom in just five months: a very creditable achievement by the entirely local management.

'Hambledon is now entering a new era of production and profitability which will be enhanced when the Sekisovskoye gold mine commences production next month.'

onwards and upwards !
Glad I topped up a couple of times over the past few weeks!

should see a gradual rise towards 64p+ over the coming months ! (imho) and 64p was a target I saw some months ago...might see higher targets now... (imho)

A very nice surprise.
cyril

Now we're off and rolling, excellent news.

A chance to get in below 20p,with first production next month(hopefully the 16th)
it won't be at this price much longer?
cyril

I quite agree, great opportunity here and I hope to hold for the medium term as we watch this company grow in stature.

Some afternoon interest reappearing now...

'bout time as well.... been very disappointing so far!

The company is building its reputation and the market will not start to attribute value (and let's face it, it is a difficult market) until the money is being banked. unfortunately we have to be patient - and I find that hard too!

sp hasn't really changes since 08:30 or thereabouts today! Never mind, it'll shift one of these days.

Starting to edge back in the right direction, hopefully we continue to the highs now.

I reckon once it pops its head through 20p bid price we should be well on the way.

I suppose that a lot of the latest news is priced into the SP. They require a
Hazardious Material Lincence, hopefully this along with the pouring of the first
Gold will tie in with Indepenence Day the 16th Dec.
This might help some but it will in my experiance take time before we see any
real movement,check out MCR who recently started producing and KMR which took
quite a time after production start up before any effect on the SP.
It will be news of revenue which will be the real mover of the SP?
imho
cyril

we are getting close to the 16th and it will be interesting if the buying increases and of course the s.p. reacts accordingly
watcher

we are getting close to the 16th and it will be interesting if the buying increases and of course the s.p. reacts accordingly
watcher

Today is "Indepenence Day" and the first "Billet of Gold" should have been poured.
If this was achieved then we should get an RNS tomorrow, which will not only
derisk HMB it will mean they have all necessary licences in place?
cyril

Well no RNS today,was expected so could be a few hitches?
cyril

never a good sign ..... small companies in particular need to keep to their dates and promises if their credibility is not to be damaged

there always is...nothing goes through smoothly...up 'til now it would have seemed too good for this to go to plan and then the sp to instantly be a 4/5 bagger ! and all b4 xmas as well!...but...you never know! we could get something later today/tomorrow morning... keep the faith!

in this case i agree with cynic...you have an optomistic veiw if dates and milestones are put in place by companies......we will no doubt see what happens next

watcher

HMB have a history of being late, something to do with the country they operate
in i believe.With Christmas trading along with lateness, could present a buying
opportunity?
cyril

Mining companies are notoriously late no matter where their territory is. Hambledon have made big strides and is just about to become a producer with a revenue stream (and not really late in my book). Now\'s the time not to be throwing in the towel in my opinion. Seriously considering another stake here now.

did not say "throw in the towel" ...... i merely made an observation about keeping to dates etc ...... if they cannot do that, then they should at least preface with a caveat

Not to say there won't be an annoucement this week or before year end yet.

Good to see production has started at Sekisovkoye - all running to plan and I'm pretty impressed with management's achievements on this one to date.

even if market just shrugs its shoulders

Yep, looks good.... don't think the sp will shoot up quickly but will steadily rise over the coming yrs/months as production, revenue and cash flows increase.

Excellent news this am, 1st gold pour on 26th,the market who recently subscribed at 17.75p has reacted in a positive way considering its XMas and the news was
expected, so no surprise.I particularly like CEO Nigel Bridgen's statement of
producing from 2 sites and the potential to significantly increase production over the next few years? Also equity fully funded and look forward to strong cash flow,
NB owns over 21% of the company, As one analyst put it these prices are small potatoes against the long term value.
cyril

I don't beeelieeeeve it ! it's going down ? time to top up or what ?

skyhigh, Patience its the time of year,peeps requiring money for Xmas Dec S/Bets
closing,the mm's know this and will take advantage. Now we have 1st gold shortly,
expected to rise above $1000ounce and possible 40000ounce's so somewhere near to
20m in revenue for 2008 and thats for starters. Its why one analysts called
these values "small potatoes" once again patience,your decision whether you top up or not.
cyril

charts are of fairly limited value on these minnows, but would not be in a hurry to buy ..... perhaps do so when sp hits 200 dma, which should give support

http://www.resourceinvestor.com/pebble.asp?relid=38895
cyril

read it, but not frightfully relevant .... of course few are selling gold for scrap; very short odds against bullion prices resuming their upward track

Any gold taken out of the equation will have some effect,and we're talking 40tons almost 1m ounces.And of course the smelting of scrap is a whole lot cheaper than mining the ore, and i don't think such an article would have been written if it
was of little relevence? As far as the price of gold rising, an article on a competition of the top analysts on the LME for 2008,stated the most sucessful of them over the last 5 years or so, forecast the price at over $1100ounce.
cyril

$1100 by when?

The comp was for 2008, so sometime during the year? I'm sure the article was from Moneyam, i'll see if i can find it.
cyril

don't worry, but i really do think someone has been smoking whacky-baccy if they think $1100 is truly realistic in the next 12 months

http://www.moneyweek.com/file/39747/why-gold-could-hit-1100-an-ounce-this-year.html
www.moneyweek.com
Should be able to access either.
cyril

Interesting read all the same. Think I mentioned some time back that I wouldn't be surprised by a gold fall back to $775. In fact it could be quite useful to consolidate and maintain the strong upward trend. I still expect the rise to continue for a few years yet.

I'm hearing this was tiped at the weekend, however I don't know for sure or where even? Price would suggest that's the case looking at the volume too. Gold now being produced and first gold pour on Boxing Day. Great potential.

Here's the link and text:(from another BB)

http://www.telegraph.co.uk/money/main.jhtml;sessionid=543TQOL3EMXXLQFIQMGCFFOAVCBQUIVO?xml=/money/2007/12/23/cxquest123.xml

Hambledon Mining

Price 18.25p

Questor says Buy

AFTER three years as a public company, Hambledon Mining has finally lived up to its name and become a mining company. On Boxing Day, the first gold pour will take place, marking the beginning of production from its Sekisovskoye gold project in Kazakhstan.

The company boasted last week that the whole event will be broadcast on three Kazakh television stations.

The company mines from an open pit, and is aiming for production rates of 40,000 ounces a year. If all goes to plan, this will be merely a prelude to mining a much larger underground reserve which should take production up to 100,000 ounces a year.

Questor tipped Hambledon at 8p and again at 14p and our faith appears to have paid off, with the shares nudging 19p last week. With profits finally looming, there is no reason why the shares can't keep going.

rgds

Thanks Sky. Good read - I was hoping it was the SunTel, and substantial volume today. Looks good for the coming weeks/months.

Onwards for HMB now and long-term these should be multiply 3-4x current sp IMO.

I agree with you there andysmith over the long term.

http://www.resourceinvestor.com/pebble.asp?relid=38974
Gold could be used in emmisions reduction, a new one on me but the mind boggles at what it could mean for the POG?
cyril
ps Merry Christmas everyone.

Today is the day they pour the FIRST GOLD which will be broadcast to the nation,such is the importence to this country. Only a small a tick up imo
as this is expected news, but it is the start of long journey forward and with it
the rewards to the "patient".
cyril
ps Should also have wrote The Times had HMB as one of their four tips for 2008,
24/12/07 eddition

the last bit is def the most interesting ...... especially if the pundits have it right for a change!

The most interesting maybe? but not the most relevent.
cyril

No RNS as yet??
cyril

I'm not expecting one.

who cares.........price is creeping up.

if its about 30p by this time next year, i'd be happy

http://www.resourceinvestor.com/pebble.asp?relid=39110

Interesting read and helps the cause.
cyril

The first gold pour will take place on 26th December in the presence of the Akim
of the East Kazakhstan oblast and the Akims of the Glubokoye and Sekisovskoye
regions. The event will be televised by 'Habar', 'VKTV' and '31' channels.
Representatives of the Government of Kazakhstan will also attend.

and did this come to pass?
if so, i am amazed that HMB have not issued a statement to the effect and made at least some small PR brouhaha

http://www.interfax.com/3/351033/news.aspx
cyril

I think they did announce it: The first gold pour will take place on 26th December

but did it? .... and if so, what was the press and other reaction etc?

I read the link from post 186 as confirming gold is being processed?
cyril

I see the Interfax annoucement too on my Bloomberg terminal on 27/12 and Seymour Pierce price target on buy rec now showing 38p

Nice to see some strength again.

We look about to tick higher again, ask getting pressured. I understand we'll be seeing pictures (on their website I assume) of the gold pour - and perhaps further update?

Excellent read on gold:
http://www.kitco.com/ind/Kirtley/jan022008.html

but HMB snoozes on!

Happy to hold while production kicks in and the profit stream starts.

Interesting site, your looking for Dan Norcini
http://www.jsmineset.com
cyril

Any idea anybody how high in the next 6 months this could go and is it worth buying in now ?

i hold, but think CEY may be a better bet (see FTSE thread re this company)

Still on forward PE <5 so IMO now a producer this could double from here but maybe >6months.

would still go for CEY and i hold both ..... see this week's Shares Mag for added firepower

http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article3136550.ece

cynic you refer to CEY as a dinky gold producer,i thought the mine was due to start up later this year?
I hold both and feel that long term CEY will outperform HMB but short term and in the present environment the later will do best due to production. Once revenues and cost are known the true value of this share will be realized.
cyril

i actually hold both too ..... it's just that i think CEY has much larger proven reserves ... please feel free to correct me, but yes i think you are right, that CEY won't be in (full?) production until late 2008

I'll be pleasently surprised if CEY hit their time objectives, miners rarely meet them
(HMB being a good example)for that reason maybe 2009? In these troubled times (dow dropping like a stone) cash is king(revenue), it is for that reason alone why short to medium HMB imo will outperform CEY. Long term the 11m ounces reserves and increasing of CEY will undoubtably tell.
cyril

Gold is rocketing, that's for sure, the big problem is : if the market goes pear shaped it drags gold stocks down as well, just look at UGY (gold price rocketing-drops like a stone), though coming back now.

It just depends what your outlook is for Au long term!

If you are bullish, the peaks and troughs are simply ripples on the surface of the pond IMO.

Recommendation from Share Centre Investment Advice .

HMB
Small mining co's face a number of risks, delays, costs, geological and political,but
for investors looking for a small mining co. on the cusp of delivering profits this
could be a golden opportunity...
cyril

Seymour Pierce analyst on Bloomberg TV now RE HMB

Turning into a revenue generating company and one of their recommendations.

market is obviously hanging on his every word .... or at least those who have not hanged themselves already

I would say that with production now taking place and quite a premium on gold which is not factored in, the price is underpinned.

http://www.investegate.co.uk/Article.aspx?id=200801240700514175M
cyril

Nicely encouraging. These types of problems are to be expected but prefer to hear that they have been resolved.

http://www.ft.com/cms/s/0/d5cacc02-cb23-11dc-97ff-000077b07658.html
Also of interest is the reference to a possible further rate cut in the USA,which
of course will keep the market happy.
cyril

i disagree ..... see my comment on FTSE thread

Another rate cut now would be translated as : panicking and would probably have the opposite effect on the market.

Dont agree the .75% cut was to bring the FED up to the curve , the next cut will be to get them in front of the curve.

I would say 25bp would smack the hardest against this week's cut. Another 75bp in light of ShockGen is unlikely. Half and nothing get equal odds for me. Market still expecting a half. Sub prime hasn't gone away and the rises we've seen this week can all be gone next week (or later even.)

Interesting article picked up from reading another bb.
http://news.goldseek.com/KennethGerbino/1201905487.php
cyril

Alas a tragic reason for todays drop in the SP.
http://www.investegate.co.uk/Article.aspx?id=200802121352328359N
cyril

The other side of the incident is that when it all starts up again, that they could give information on how it's going overall to establish confidence that all is ok and progressing well (with some numbers to back it up)

I would normally see this as a buying opertunity, however Uncle Ted's in no mood to be buying equities at the moment...

Know what you mean... I've just seen the NPE release... another duffer!

Back in today, prior to accident everything on track, cant ignore the rate of production and impressed in the way this company appears to be managed (delays always expected with miners), This is a long term hold for me, only really interested in where they will be in say 3 years time, in the event of profits i shall use a trailing stop as (after all)they are operating in Kazakstan!

RNS Number:3049O Hambledon Mining PLC 19 February 2008

HAMBLEDON MINING PLC (AIM: HMB)

Boiler accident at Sekisovskoye - update

Hambledon Mining plc ('Hambledon' or the 'Group' or the 'Company'), the AIM-listed gold mining and processing company operating in Kazakhstan, announces that the investigation into the boiler accident at the process plant of its gold mine at Sekisovskoye on 12 February 2008 is ongoing and is likely to be completed in the next few days.

The boiler in use was the same as those used for the same purpose in several other mining companies' gold plants in Kazakhstan and the cause of the accident is still unclear.

The damage to the processing facility was relatively minor and can be rectified by maintenance crews whilst a replacement boiler is procured. A suitable boiler has been located in Russia and could, if necessary, be air-freighted to Sekisovskoye, though preference will be given to a local supplier. The order for a new boiler will only be placed once the result of the investigation is known so that any lessons learned or recommendations arising from it can be followed. Once the inquiry is completed and orders can be placed, it is expected that the plant could be closed for up to a further five weeks. This period could be reduced if a suitable boiler can be sourced locally.

Prior to the accident, operations had been progressing well. Metallurgical recovery had reached 85% and would have been expected to reach the design level of 92% upon the commissioning of the Falcon gravity concentrator, which was ready and waiting for the Falcon commissioning engineers to arrive.

During the shut-down, the workforce have been redirected to other site-work and rectification of the remaining crusher problems with the intention that the plant will operate at design capacity when it restarts.

Nick Bridgen, Chief Executive, commented:

'Our thoughts and sympathy are with the family of the operator who was tragically killed. We have always made it our priority to make sure that the plant is safe and will do everything in our power to ensure that no accident like this happens again.'

Grim isn't it. Time to buy or wait for the sp to drift down further until the next announce't /

How about buy some now, and buy more on further weakness, you can buy in now for roughly same price as middle last year, however, now you have the benefit of two mines producing and being valued on outdated gold values, which continue to go through the roof, personally i'm not worried if they do fall, as on a three year scale they have the potential to really fly, my only concern is the country in which they operate.

A very welcome tick up today, and did a dummy buy, lots of indicated sells @ 15.62p are actually buys, Am i missing something here? surely there is no question of HMB being liable for damages, surely they have insurances for this very thing? after all, mining is very risky business by nature, I cant see why the share price has fallen this far, within 5 weeks we should be running at full bore once again, after all, the assets haven't gone away, i see this current situation as a great opertunity to buy. Ok ramp over...!

You are probably right about insurance cover but such accidents are usually investigated by the authorities and if HMB is found wanting on health and safety grounds there could be repercussions.

i would agree Ted, though one has to assume that the insurance covered in Kaz too ..... i assuming it did, i think the insurers would be hard pressed to void the policy even if "HMB is found wanting on health and safety grounds", though remember it would not be UK/EU preposterous regulations that would apply in any case

Hopefully the Kazakh authorities will not suspend HMB's licence to operate pending the result of an investigation into this unfortunate accident.

Bischi mining (bisi) had a death not long ago, may be worth having a look to see the impact on the mine!!

No news, but if that was a large sale late reported last night, then think the overhang has been cleared as progress is being made this afternoon,a very welcome couple of ticks up...

Seems their interest in HMB once more?
cyril

a rise of 0.75p with a dealing spread of 0.50p does not exactly imbue at least this investor with bonhomie and goodwill to all men ... or women for that matter!

Understand, but the spread usually closes to 0.25p. In any case, (provided this little episode ends positively), will be holding for the medium/long term...

Are they back in production after the unfortunate accident at the processing plant?

I see the movement as possibly significant,in keeping with other aim stocks of late,
their SP has dropped well out if proportion to the underlying value. But gives a
chance to buy at these base rates. aimo
cyril

Having read their last RNS dated 19/02/07 production may not re-start before April, assuming a new boiler is in place and the authorities are acquiescent. However shareholders do need some reassurance that the people operating the plant are sufficiently experienced to avoid further accidents and loss of production.

Good to see a rise here. Perhaps there's a whiff of an update before too long. However, not wishing to negate the seriousness of the tragic accident for the family involved, operationally we will be back up and running before too long and the cause of the accident will be identified. Then we can expect to see earnings updates and gold could well be over USD 1000 by then.

Greyhound thats how i read it, mining accidents do happen,and is tragic, especially for the families.However things go on,and this is a poor country which has much need for the revenues such projects bring,so i would be most surprised if their was any undue delay from the authorities. Possibly the most likely reason if their is a long delay, would be the issue of a new boiler?
cyril

I have sent them a couple of kettles, thought it might help... lol
All those late reported sells must prove the share price dropped because of order, the fact it moved up on relatively small buying volume surely means the seller has cleared off now...

Seems that the new boiler will arrive from China on the 21st, so all being well it
could be up adnd running sometime April?
cyril

http://www.investegate.co.uk/Article.aspx?id=200803100702276977P
Some good news for holders.
cyril

hope so!
we'll see how much it's cost and if they need to raise more finance.

Skyhigh i believe that HMB are debt free and the loan facility is only a
precaution?
Here's a report that might bring a bit of cheer, gold $3000+/ounce.
http://www.financialsense.com/fsn/main.html
You need to goto 1st March and its Gold Roundtable.
cyril

No fines were imposed on the Company.

That was the bit i was waiting for... onwards and upwards.

http://www.resourceinvestor.com/pebble.asp?relid=41459
cyril

http://www.iii.co.uk/investment/detail?code=cotn%3AHMB.L&display=discussion&action&id=3972727

For me this will drive the SP northwards to the levels proir to the explosion.
aimo
cyril

bought some more this morning to add to my previous buys... this low sp was too tempting to ignore!

Skyhigh i must agree with you, sorely tempted to increase my holdings. I feel its
just a matter of a few weeks before news of restart of production following the
accident,which will trigger improvement in the SP?
cyril

http://www.investegate.co.uk/Article.aspx?id=200804230700488967S
We're off again.
cyril

SP might take a hit to start with but then should strengthen as we run up to the much anticipated "first sales" RNS ? and beyond !

good news at last, hopefully, we should see a slow gradual rise in the sp. production/revenue projections should be in the next results rns due soon... :)

HAMBLEDON MINING PLC
(AIM: HMB)

Sekisovskoye Fully Operational

Hambledon Mining plc ('Hambledon' or the 'Group' or the 'Company'), the
AIM-listed gold mining and processing company operating in Kazakhstan, is
pleased to report that Sekisovskoye is now producing gold.

Since the resumption of operations last week, 26.7 kilogrammes of dore have been
poured at Sekisovskoye. Following assaying, the dore, together with about 6
kilogrammes that had been poured previously, will be shipped to Almaty and from
there to Europe for refining and sale.

Following an inspection of the mine and process plant by a government committee
comprised of the various environmental, safety, design and other departments
involved, official approval of completion has been granted. This means that the
formal commissioning period is now over and regular production has commenced.


Nick Bridgen, Chief Executive of Hambledon, said:

'I would like to thank the team at Sekisovskoye for having done a magnificent
job in getting the plant back up and running and approved by the authorities.'

1 May 2008

good positive momentum finally.

Guys for anyone wanting to top up their holdings, the share price rects well to 20 day ema crossover and contracting bollinger band, both indicators confirm each other and are easy to read.

These are good times to add to holdings for the next rise.
good luck guys 35p initial target from here anaylst concensus, but i think it will go higher eventually.

Fed up with HMB...have decided to sell up this morning and go into EDD. their results are due 5th June and should see a rally up to then and to push on on /after results..

May come back into HMB then if they are still at these levels

Good luck to all!

why would you want to throw money at HMB again having just been walloped?

Still believe HMB will come good in 6/12 months.. in meantime can't see the sp doing much....

EDD going up already this morning after I bought some more....I nearly bought more IVE which again has gone up on the the back of an excellent RNS !

you would be far better served with the likes of CEY

ok.. I'll take a look at it - thanks

I hold CEY for the reason it is ISAble, it has a great future but is some 12months from 1st production. Anyone looking for stock with a short term view, may i recommend CLN which is in talks with CBM with a take over most likely and the
price is expected to be not less han 60p current SP at 47p, news could be very close? The beauty of CLN is its coal and the hottest resource(and expected to last into the near future) out their.
imho
cyril

why the fall do you think!!! shares.com recommends has a buy!

disappointing RNS and not looking to get much better anywhere in the near future

Agreed, disappointing RNS, but as a long term hold it will come good as its
producing and selling Gold (theirs also other (silver)minerals)although not at present, the quanties hoped for. But as one analyist stated when higher than todays SP "small potatoes". It will come good and returns in excess of 100% over
time are not overly optomistic?
aimho
cyril

depends how long you are going to live ...... no compelling reason at all to be in this stock ...... as i said, CEY is a much better bet .... and no, i do not currently hold it!

Cynic theirs a saying in the ,its a means of transferring from the impatient to the patient.
For me both will require that patience, more for a investor than a trader. but
both have excellent upside.
aimho
cyril

I believe its a buy at this level, for the longer term, all the bad news is out now, they are producing, Gold price is comparitively low and if there is any upgrade of metals/minerals found, sp will improve...

straw is gold-coloured too

AHHHH, my stop got triggered earlier this week, cant see why HMB is taking a hammering considering that they are in production and have low forward PE.
I guess the question of whether a fund-raising will be needed following the delays is driving the price down but I will keep on watchlist and buy back in at lower price.
Cynic, HMB has a good mid-term potential with its gold production, I guess you rank CEY as a better bet in your opinion but no need to keep slating a company that is tipped as a buy from several brokers. Good luck with CEY though, it also looks a good investment in the area of gold.

i care not whether or not brokers rate HMB ..... i don't and shall say so if i so choose ..... how often are brokers wrong? ..... more often than not? ..... i wonder

by the way, i do not currently hold CEY

Heard a rumour, news being released next week should get the sp moving in the right direction again. Apologies, as can't give any more detail, as the `broker/advisor' wasn't allowed to give me any precise details, but no benefit in him lying to me, as he knows i have no spare cash to top up anyway, so still only hold a small amount.
Here's hoping he's proved correct.

Have been toying with topping up here, the worst is over - i imagine... just waiting for small gold producers to become flavour of the month again!

In fact i think i will put my money where my mouth is tomorrow, despite the horrid looking chart - the RSI is ridiculously oversold...

I too think this is a good buy and am considering topping up. We are now producing and profits will start to crystallise. These minnow miners take time but I'm not writing it off.

gold has went up more than 50$ in last week and this still falls...hmmm....and its producing gold now too at this high price

Big producers will go up first with institutional backing, the minnows/exploration co's follow later... haven't topped up yet, might see if 8p is on the horizon, but i think if this comes back to popularity it could climb 3/4p easily - thats 30/40% from this level...

There has to be a reason for the sp decline, can we expect bad news?

I would have thought more to do with continuing the slide after the recent placing and general market sentiment, but hey ho, i admit its not looking good, although that is usually the time to be buying...

try TAN then lol!

Has been crossing my mind Rich...!

gold up to 942$ now so why does this keep going down....it makes no sense esp as its a producer now

Likewise, gotta be honest but now seriously beginning to doubt the `broker/advisor' who told me last week that this company will announce some seriously good news this week, that ought to raise the sp significantly..... looks highly unlikely to me at this point in time.

most brokers / advisors are garbage or else they wouldnt need to do the job.....remember all the brokers that tipped marconi!!! i saw one on business after it plunged to a quid and the broker told people to hold as they would would bounce up......that was gerrards i think....they r woeful.

Fair point

Is Hambledon really producing gold? The pics presented on their website looks like this is a very tiny operation, and the smelters and processing equipment more suited to a garage home industry.The annual report is due out, supposedly on Friday 4/07/2008.The share price trend before results or an anouncement, is usually a fair guide of what kind of news you can expect.

yes it is......i think market wants evidence of consistent producing 1st.

nick bridgen is also mystified by very low price in recent days from my informed source.

Bought back into HMB

bloody ridiculous, i'm getting hammered here, still haven't topped up, but will be looking at 6p soon, should have sold out ages ago... CEY similar story

hold on ted..i agree its ridiculous but its way gold companies r being treated at present on high gold prices too..as hmb will give figs on gold production at some point.....also gold is tipped to rocket soon over next year or so. whatever u bought in at, this will go past previous highs.....look at this in 2 years time

6p next port of call; the trend is your friend. The problem as I see it is costs increase and the fear with these small caps is they have to come back again cap in hand for more cash. Still with a loss, I'm only grateful to have sold out last week. But I still like the fundamentals, ie they will be profitable but the timetable (as often with mining co's) has slipped and in this economic climate there is often no rhyme or reason to irrational selling. I'm now holidng almost 80% cash in my portfolio (including large caps), the bear market will continue through summer and who knows what in October - that's my opinion anyway.

yes agree.....see ftse hitting 4500.....dont know when though, 6 months or so and then markets bouncing back perhaps as sp of co are usually for a year in advance when by end of 2009 things will be turning corner roughly.....also us election will give markets a lift as they usually do when us election

PRODUCTION UPDATE

Hambledon, the AIM quoted gold mining company operating in Kazakhstan, is pleased to report further progress on gold production at its Sekisovskoye operation.

2,247 ounces of gold and 3,418 ounces of silver were poured during the month of July 2008. This compares with June 2008 when 1,102 ounces of gold and 1,608 ounces of silver were poured. Further improvements are being implemented which will help to increase the throughput and metallurgical recovery over the coming three months. The Company remains confident that it will shortly thereafter meet its target monthly rate of open-pit production of 3,333 ounces of gold (40,000 ounces of gold on an annualised basis).

It is expected that by the end of the year orders will be placed for the equipment required to start underground mining, and all applications for the necessary approvals will be submitted, thereby providing shareholders with an increasing production profile in both the short and medium term.

The Company will in future be providing production updates at the end of each quarter, commencing with the three month period ending 30 September 2008.

The directors of Hambledon know of no reason for the recent weakness of the Company's share price.

Surprise so little movement in the SP, probably down to the revenue being used to
fund the deep mine? Looks like an excellent long term investment at this price,maybe 18 months or so?
aimho
cyril

http://www.resourceinvestor.com/pebble.asp?relid=45213

What 's Wrong With The Junior Gold Sector?
By Stephen Clayson

08 Aug 2008 at 03:24 PM GMT-04:00

So far this year junior gold stocks have performed poorly. Why?


------------------------------------------------------------------------------

LONDON (ResourceInvestor.com) -- Looking back on 2008 so far, an uninitiated observer might assume that investors in gold sector equities would be a pretty happy bunch. The price of the yellow metal has hit record nominal levels. Even with this weeks slump, gold is well ahead of where it was this time last year.

If those investors had been focused on the sectors bigger players, that uninitiated observer might have been right. For example, using London prices, Randgold Resources (RRS; GOLD) has gained 22% to 2305p from 5 January to close of trade today while Peter Hambro Mining (POG) has fallen 32% to 888p and Yamana Gold (YAU) has lost 25% to 547p over the same period. Granted, Peter Hambro and Yamana are down, but they have fared reasonably well in a very testing environment for equities of any hue, and much of the damage has actually been done this week as the gold price has weakened.

Contrast this with Central America-focused explorer Condor Resources (CNR), which is down 75% to 1.05p over the same timescale. Or junior producers Hambledon Mining (HMB) and Mercator Gold (MCR), which have come down 72% to 5.75p and 75% to 21.25p respectively.

Although a lot of juniors have come down with the gold price this week, most didnt really go up with it, owing to the catastrophic effect that the credit crunch and associated economic maladies have had on junior markets the world over.

That said, maybe this is the markets way of flagging that there are actually a lot of no-hopers out there; companies with development projects that simply dont stack up, exploration projects that will never reach critical mass, or cringe-worthy political risk profiles.

It is also a reflection of the new reality in the gold mining business; that a lot of mines in high cost locales like Australia are now borderline viable, and wont stand much more cost pressure unless their management really pull something special out of the bag. Alas numerous juniors have all their eggs in one high cost basket, and are at real risk of going kaput. A few have already gone under, Monarch Gold and View Resources being two.

Bad hedge positions are also an issue. The big players can buy back hedges they dont fancy anymore, albeit at immense cost, but that may not be an option for a junior, especially with equity markets strained at all levels. European Minerals merger with Lero Gold to form Orsu Metals (OSU) was a neat way to give European Minerals a way out of having to keep buying gold in the market to deliver into its hedges as a result of commissioning delays at its Varvarinskoye mine in Kazakhstan, but not everyone will be so lucky.

People who buy gold bullion are frequently not the same people who buy junior gold shares, though there is some overlap. Juniors depend to a great extent on retail investors, but retail investors as a group are under pressure in all major Western mining markets, having been pummelled by falling home prices; a tightening credit environment, which has led to margin calls from many brokers; and rising real world prices, especially of fuel and food, even if for many the impact of these is as much psychological as anything else.

The lack of significant discoveries being made by juniors is a worry. But more important is that the minerals boom has triggered an explosion of competition for good assets, from state-backed Asian (primarily Chinese) entities and from the big Western mining companies.

By and large, mining and exploration are no longer businesses in which likable amateurs, that perennial fixture of the junior mining sector, can expect to muddle through. It takes big money to succeed nowadays; money to hire good people, to motivate suppliers, to fund ever burgeoning corporate social responsibility programmes. And that skews the field against the juniors more than ever before.

Good day to add with positive news, HMB is now a producer and closing in on its annual production rate targets.

Production update, out.
cyril

Bought a chunk of these 2 days ago, time to dust this thread off again, in process of upgrading the cone crusher so as to handle higher capacity, has taken a while to get it across from China, but looks to be all systems go, now with increase in output and gold price heading upwards, sellers cleared and indeed evidence of large purchases in background, its onwards and upwards im(unbiased)o

Stochastics and RSI looking toppy, but if sp can hold up (consolidate) while these retreat in coming days/week - that will also be bullish, as the next leg should begin.
Dont forget we are a producer now - not blue sky, this translates into earnings -
also Kazakh currency devaluing means lower labour and running costs etc...

HMB are in production, have no hedging and little debt. I can see this rising very fast on release of restart of production? imho

Take a look at thier photo's say's more than a 1000 words?
www.hambledon-mining.com

I think we could get news next week?
cyril

OK who sold against my reconmendation? Down at this minute but not phased.
cyril

OK who sold against my reconmendation? Down at this minute but not phased.
cyril

Most surprised at the size of the pull back, although some expected with market
as it is, but what i buying opportunity?
Although no news as yet a reply to an e-mail explains the understandable delay
in reporting?

Thank you for your email and your good wishes. As you have seen the new crusher is installed. We haven't put out an RNS yet as we want to be sure of its performance before we do so. We will do this as soon as we can. I know that yourself and many other PIs are awaiting this news and for obvious reasons I cannot tell you something we are not telling everyone. I do hope you understand.

Yours sincerely

Charles Zorab

aimho
cyril

I see others have thought the same,some healthy buying going on.
cyril

Hambledon Mining Plc 11 March 2009

The Directors of Hambledon Mining Plc (the Company) are pleased to report upon the installation and performance of the new secondary crusher.

The installation of the new secondary cone crusher and re-lining of the primary ball mill were completed in late February. The installation and commissioning interrupted operations for longer than expected, resulting in the equivalent of three weeks of lost production. The upgraded circuit is, however, now producing crushed ore at above the design rate.

Several other improvements to the crushing circuit were carried out during the shutdown and will be completed in the next two weeks. These changes are designed to make the plant more reliable and less prone to stoppages caused by freeze-thaw weather in spring and autumn. Nevertheless, some weather-related disruption to production can be expected from now until the end of April.

The new circuit is capable of producing a more finely crushed product, which will allow the mills to operate at higher tonnages. There is therefore potential for higher milling rates after further experience of operating the new circuit is gained, particularly in the summer months.

A quarterly production update will be given at the beginning of the next quarter.

Not the most exciting of news releases, but typical HMB call it as it is,which allows
one to make a factual decision. So a lot more patience required i'm afriad, but it'll
be worth it imho?


cyril

Quarterly production report due shortly.

First quarter gold production at Hambledon Mining was severely affected by problems in the crushing plant and shutdowns for repairs and installation of new equipment.

Milled tonnes totalled 30,742 in January, 22,930 in February and 48,092 in March.

A new cone crusher was installed in early March and various other modifications were made during the shutdown.

The newly supplied cone crusher drive motor failed shortly after installation and further shutdowns occurred later in the month for the installation of new feeder arrangements and modifications to improve the flow.

Since the restart on 1 April, the changes have proved successful.

In the first 12 days of full operation, some 24,100 tonnes were milled and 900 ounces of gold were produced.
cyril

interesting movement today and a lot of buys, anyone know if news is imminent?

I B.......y hope so been stuck with these toooooo long.

At this price has to be a bargain,producing gold and with the new excavator due this month a ramp up in output. Gold is rising, couple increased output(reducing costs and improving margins)along with $950+ makes it a strong buy, aimho.
cyril

Are you sure it's not you ramping up..cyril lol

A slight tick up since posting.
The 3rd excavator will allow up to 50% higher supply of raw material to the crusher, but more importent is the back up to cover any breakdowns, of which have been many. This along with the building up of spare parts will help to ensure a constant supply, at least thats the object?
cyril

The steady climb has started.i dont see the previous highs but 8p is not too far away imho.

post 303 .... as a total aside ..... Zorab is an old armenian family name and there's not a lot of those - i suspect that all of that ilk are quite closely related

i knew you would all enjoy that bit of utter trivia!

CYNIC as always i did!
Also engoying the huge rise ,i will be out @ 7p,if it gets there.

Looking for 8p here and then i will be out. Surely now with the price of Gold and the stronger production facilities this should continue to show support and rise further....?

duncs; your last sentence saya it for me and i believe this is just the start of the re-rating? Still each to is own and a profit is always welcome.
cyril

Nice tick up to add to yesterdays rise.
cyril

And again today.

niceonecyril - 04 Aug 2009 09:39 - 309 of 318
At this price has to be a bargain,producing gold and with the new excavator due this month a ramp up in output. Gold is rising, couple increased output(reducing costs and improving margins)along with $950+ makes it a strong buy, aimho.
cyril
Balerboy - 04 Aug 2009 10:11 - 310 of 318
Are you sure it's not you ramping up..cyril lol

Nice call i'd say, over 50% in 5 weeks.
cyril

Come on cyril, no abuse in public please........

Couldn't resist it.lol Hope you took heed?
If last years results are anything to go by,we could get the interims next week?
It would be a chance to see how production is coming along and if positive a serious re-rating would take place imho?
cyril

It would appear that interim results are out tomorrow,with update on latest production performence. With a 3rd excavator now up and running, which should lead to both increased volume and also higher yeilds. If this turns out to be the case then a nice tick up should follow taking into account the rise in POG?
cyril

A disappointing RNS. Here are the
Highlights:

Interim loss reduced to 1.3m (loss 6 months to 30 June 2008: 3.4m, loss for year to 31 December 2008: 7.6m).
Positive operating cash flow of 0.42m (outflow 6 months to 30 June 2008: 3m, outflow for year to 31 December 2008: 3.9m).
Gold production from Sekisovskoye was 9,413 ounces.
Second quarter gold production 86% higher than first quarter.
Overall production trend continues towards initial design rate.
20% processing capacity increase achieved.
Spares inventory substantially improved.
Capital expenditure amounted to 0.86m.
cyril

Seems the market likes it? On closer reading not quite as bad as 1st reading's.
cyril

Thats me out,will buy back in if it falls,i am learning fast to take profits.

have also taken the profits and bolted for the time being.

got this one wrong capetown.....why sell on chart rising

Over 10 million shares sold on Friday
when the market closed, coupled with an up-day.
Production is expected to continue increasing whilst
the price of gold moves upward. I think this is one
to watch.

Business Financial Newswire
"Kazakhstan explorer, Hambledon Mining says that extremely cold ( -45C) weather conditions has impacted on production during December and is continuing to impact on production in January.

An engine failure on one of the two Hitachi excavators in October put the machine out of operation for seven weeks resulting in lower mining rates than planned and requiring low grade stockpiled ore to be blended with the higher grade ore mined during the quarter. This resulted in the overall grade of ore being processed being 1.05 g/t instead of the 1.27 g/t planned.

On the plus side, approval for the first phase of the underground development was received in late December. A contract with a local underground contractor was signed at the end of December to commence work on the development of the underground project. This work is expected to commence in mid January.

Hambledon reports that the new mobile crushing facility is expected to be commissioned in early February and that negotiations for a renewal of the Alpha Bank stand-by loan facility of $2m. have been concluded and agreed. "

Is posting the graph supposed to make us feel worse than we already do ? It worked.........thanks

cold light of reality perhaps?
this company has been a dog since mid 2008, so why on earth anyone would have (much less) money sitting here is incomprehensible

Of course, if you had bought at 3p you would have doubled your money! (no I didn't, just in case you ask!)

only the now-banished (cauldron-boiled?) coven would have said it did!

Interims next Tuesday(21st),perhaps worth a punt with rhe pog?
cyril

Hambledon Mining Plc
(Hambledon or the Company)(Hambledon or the Company)
8 February 2011 8 February 2011

Expansion of Planned Output from Underground Mine

Hambledon announces that as part of a continuing strategic review of the Sekisovskoye operations the planned underground output will be increased.

The underground mine is currently being constructed by an experienced mining contractor and the first ore is due to be extracted from the underground mine in December 2011.

The underground output from Sekisovskoye was initially planned to be 500,000tpa. Following work undertaken by consultants, the extraction rate is to be increased to a target of 850,000tpa over a phased five year period. The achievement of this will be by a reconfiguration of the mine layout and the use of additional miners and machinery. The extraction rate will mean that gold production from the underground mine alone is targeted to incrementally reach 65,000 oz in 2014, rising to 110,000 oz in 2016.

CEO Tim Daffern stated:

The modified development plan of the Sekisovskoye underground mine provides the next step in expanding Hambledons long term gold production. The increased extraction rate will improve our gold production and cash generation, thereby underpinning the Companys objective of growth in Kazakhstan.

ENQUIRIES:

HAMBLEDON MINING:

Telephone +44 (0)207 233 1462

The directors of Hambledon Mining (AIM: HMB) and Forte Energy (AIM / ASX: FTE) will be presenting: Thursday the 7th July 2011, Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB (Charles Suite)

FREE registration - http://www.proactiveinvestors.co.uk/register/event_details/117

The presentations will start at 6:00pm and finish at approx 8:00pm. After the presentations are complete the directors will also be available to take questions during a free canapand wine reception. Details on the presenting companies can be found below.

This event is suitable for the following:
Sophisticated & private investors, private client brokers, fund managers, financial institutions, hedge funds, buy & sell side analysts and journalists.

The event is not suitable for people pursuing commercial opportunities.

If you have any problems registering or queries please email events@proactiveinvestors.com.

www.iii.co.uk/tv/episode/gold-miners-offer-investment-success

Had to copy omto google to access,worthwhile read regarding gold stock,with HMB being high octane.

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company is crap

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burnt my fingers in this pile of shit a few years back

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nah .... long forgotten until i saw some muppet writing the company up the other day ...... nor am i one of those who wrings his hands for selling too early

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What is the point of removing posts before anyone has read them?

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RNS is this the end of the road..... 60% partial offer of 2p?

listen to this: interview with the director love LSE for this feature!