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.

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.'