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.

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.