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.

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