http://www.kitco.com/charts/livegold.html

cheers GF.

for once missed out on what was a fave stock of mine for a long time .... hey ho!

In these markets though Cynic, todays missed oppertunity can be tomorrows big mistake....

The price will no doubt come back to retest the lows (or at least somewhere near) to confirm this really is a bottom/new uptrend.

In my opinion.

Strawbs.

There you go cynic its back to 300p now is your chance to buy.

Recent article on POG (bought in first thing this morning)by Fat Prophets....

http://www.proactiveinvestors.co.uk/companies/news/3202/peter-hambro-mining-production-and-exploration-march-ahead-3202.html

AND WE HAVE MORE......


Presentations
24 November 2008
Merrill Lynch Russia & CIS Forum

http://www.peterhambro.com/uploads/MerrillLynchPresentation.pdf



Makes for interesting reading.

Flying yet again but took some profits at 340p remembered cyners warning yesterday.

Think theres still a lot more to come in the near future

i don't think anyone has posted the interview comments bedlow, but they make interesting reading and go quite a long way, i suspect, to explain the sudden surge .....

Russian gold producer Peter Hambro Mining Plc is confident healthy margins will generate enough cash flow to allow it to build new mines despite weak gold prices.

Executive Chairman Peter Hambro told Reuters the debt-laden firm was keeping an eye on its $180 million convertible bond with an initial redemption date next October, but the current trading of the complex instrument was favourable to the firm.

The company has an ambitious plan to boost output from new mines, but a sharp fall in the gold price is not expected to be an obstacle, he said in an interview late on Friday.

Margins are more important than the absolute level of the gold price, which has shed around a quarter since touching a record over $1,000 per ounce in March.

"The headline gold price is exciting to the media, but what we care about is what we are left with at the end from the ounces we have produced and currently the margins are still looking pretty good," Hambro said.

Hambro, one of the world's lowest-cost gold producers, is seeing margins of around $350 to $400 per ounce, he said.

Even though the spot gold price has come off its record highs, trading around $790 per ounce on Monday morning, the firm has benefited from lower costs.

"We had a big spike in (Russian) PPI in the first half of the year and that's (since) come down, the oil price has come down, the exchange rate has changed and wage pressure is down," Hambro said.


HIGHER OUTPUT

Good margins together with higher output are expected to generate enough cash to cover the costs of expanding its new Pioneer mine and building the new Malomir mine.

The firm's capital expenditure is estimated at $72 million for the second half of 2008 and $142 million for next year.

The firm has reiterated that it expects to meet its target to produce 350,000 to 400,000 ounces this year, an increase of between 18 and 35 percent from 2007.

The first stage of the new Pioneer mine launched production earlier this year and a second stage is due to come on stream in the middle of 2009. The firm has not released a production forecast for next year, but an analyst said it may be around 500,000 ounces.

The firm's cash flow is key since the company is highly geared, with around $320 million in debt, higher than its market capitalisation of around $260 million.

Its shares, which have shed 82 percent this year amid a collapse in mining shares, surged 17 percent to 215.20 pence on Friday, outperforming a 5.3 percent increase in the UK mining index < .FTNMX1770>.

The earliest debt redemption the company would face would be in October next year, the first date that investors can redeem a $180 million convertible bond issued a year ago.

The structure of the bond, however, works in the company's favour since it is linked to a gold price of $1,000 per ounce.

If gold is trading below $1,000 next October, investors in theory could redeem the bond at a lower gold price and take a loss, but are likely to wait for the bond to run closer to its end date of October 2012 to profit from a possible run-up in the gold price.

"The bond's currently trading at a premium to its exchangeability," Hambro said, noting that this reflected the potential for profits for bond holders if gold rises $1,000. "We're keeping an eye on it, but it's not something overly concerning."

If gold was trading above $1,000 at redemption, the firm's margins and cash flow would be that much stronger, so meeting the obligations would not be onerous, he added.

Gone back in long.

SP fall on profit taking looks overdone.

you may find the chart on post 16 useful ..... POG is always a bit lively, but 300 may be back on the cards before a bounce, or even 250ish, where sp would hit 25 dma

Cheers cyners much appreciated.

Might have timed this one wrong then but if the so called experts are right Gold sp should look after the marginal players.

POG sure ain't marginal, as i am sure you know

Yep, sorry for giving wrong impression there and its not come out in full my prev post (had a long day or a computer glich). POG one of the cheapest extractors world wide.

New RNS out.

RNS Number : 2009J
Peter Hambro Mining PLC
28 November 2008






28 November 2008










Director's Dealings


Peter Hambro Mining PLC announces that it has been informed by Mr. Peter Hambro, Executive Chairman, and Dr. Pavel Maslovskiy, Deputy Chairman that, on 27th November 2008, companies associated with them purchased USD 4,000,000 nominal of the Company's 7.125 per cent. Guaranteed Convertible Bonds due 2010 ('the Bonds') at a price of USD 58.00 inclusive of accrued interest.

During the course of the last week, Peter Hambro, Pavel Maslovskiy, their associated companies and the managers of Peter Hambro's pension fund have, in aggregate, purchased USD 14,400,000 nominal of the Bonds.

The purchase does not affect the current equity shareholding of Peter Hambro and his associates in the Company, which remains at 5,283,179 shares, representing 6.51% of the issued share capital of the Company nor of Dr. Pavel Maslovskiy and his associates which remains at 14,960,787 shares representing 18.43% of the issued share capital.





Enquiries:




Peter Hambro Mining Plc

Mini rally at the end left me down only 16 (today). Was going at 15 a point dont know where other quids come from. Might be MMs xmas tip.

Great week from this one.

made and banked a small profit here yesterday, but was too slow on the initial surge .... never mind ..... it's the BIG surge on IEC that i wait for and hopefully not in vain!

IEC, ill have a look, cheers cyners.

Imperial.... whats your bull take on that then cyners? or are you short,i havent researched that one.

no .... def long ..... agreed bid at 12.50, but shares languishing at 10.00 .... docs are meant to go out to shareholders 9 December, but completion is now said to be June 2009, which is 3/4 months later than originally anticipated .... no obvious reason or even cause for concern, but unsettling

Hmmm, yes would agree.

Wonder what the legal take is on this deal. Going to have a good look.

Have a good weekend and dont drink as much as i will. Laugh.

Heres a similar one cyners, Lucian M is Evils sidekick and is pretty good...

The Bard of the Boleyn Is Hunting for a Bargain

Hunting PLC at 382p has a market cap of 500 million. The company has two divisions: firstly Gibson Energy, Canadas largest mid stream oil company (mid stream links upstream which is production and downstream which is refining i.e. it is involved in transportation, storage, pipelines etc.) Secondly it has Hunting Energy Services which provides services to major upstream oil companies (well construction: that sort of thing)

The investment case for Hunting is straight forward. In August it announced the sale of Gibson to Riverstone holdings, a large private equity group for 600 million. This would leave it with 400 million net cash (300p per share) and Hunting Energy Services which is forecast to make 43p of earnings in 2009.

Put another way Riverstone is paying Hunting aproximately 450p per share for Gibson and it will still be left with a debt free profitable business. So whats the catch I hear you ask? The catch is that Riverstone may walk away from the deal which was struck with oil at $140 per barrel against todays $52pb. Against this however is the fact that it has paid Hunting 50 million upfront which will not be refunded if the deal fails . Furthermore the company announced on 3rd November Hunting and Riverstone are working together towards completion of the disposal of Gibson Energy in early December 2008

In my opinion three things can happen in early December. One the company announces the completion of the disposal . Two it announces a date for completion of the disposal. Three it announces the deal is off. If one the shareprice rockets: two it goes up a fair bit, three it falls but given that the price is already discounting the deal fails, the fall should be short lived and investors are left with a bombed out Oil services play. Given that there is a good chance the deal goes through, the present price gives punters a chance to invest in a first class debt free oil services group for next to nothing.

Bear raiding prodigy Lucian Miers is the Bard of the Boleyn

Posted by Lucian Miers on Tue Nov 25, 04:52 PM in Comment

I have a funny feeling the Bombay attacks are just the beginning and there will be more in coming months.