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

cheers GF.

Tipped in the recent Shares mag as a buy, particularly given that POG will buy ORE at a knock down price. However, one thing that I wasn't aware of (lack of research on my part) is that POG issued gold exchangeable bonds back in 2007, which are eligible for redemption in october '09. It is highly likely that those bonds will be redeemed at any price, but if gold goes above $1000/oz then the bonds will be in profit & therefore it is even more likely that the whole lot will be cashed in, with the resultant substantial reduction of POG's cash reserves.
Lots of things can happen between now & then, but autumn this year might see a difficult time for POG.

MoneyAM
"Peter Hambro Mining says it hopes to reach final agreement shortly on a merger with Aricom.

The companies are working on a deal which would see Aricom shareholders receive one Peter Hambro share for between 15.77 and 17.14 Aricom shares.

However Peter Hambro says agreement has not yet been reached on the exchange ratio and certain other terms and the merger is not certain to go ahead.

Meanwhile Peter Hambro Mining is launching a placing today aimed at raising around 55 million to increase working capital.

The company says the merger if it goes ahead will create a mining industry leader in the far east of Russia with operations in both gold and iron ore with a combined market capitalisation, excluding the placing proceeds, of $1.1 billion.

The enlarged group would have a cash balance of $282 million and debt of $88 million.

'Peter Hambro Mining would be able to implement its existing strategy of pursuing near-term growth of gold production while allowing for the development of Aricom's large iron ore assets once project finance and iron ore markets recover.' "

sorry to see that some of you guys will have been badly burned o'night, or at least had any profits paper decimated

A great chance to buy some cheap shares imo.

don't reckon they're cheap at this level and also depends on the ultimate dilution

OT

MKS possible break-out today are you in..?

New article click HERE

Changed my mind they could become even more cheaper.

"more cheaper"????? .... what sort of schooling did you have - lol!
actually, the cheap way in was to have bought ORE this morning at 26p as i did

After some number crunching and further investigating yes i would agree this is a good debt for equity swap deal for POG.

This is significant

.. The enlarged group would have a cash balance of $282 million and debt of $88 million.

Plus the company would be seeking a listing on the main market.

A good sound deal.

Coincides more or less with analyst predictions for gold going on for $1000 http://www.financialexpress.com/news/UBS-lifts-2009-gold-price-forecast-to-1-000/419267/

and a awakening of shipping rates with this which should be good news for iron ore

http://www.bloomberg.com/apps/news?pid=20601087&sid=aiE9...

Commodity Shipping Index Advances the Most Since at Least 1985

By Alistair Holloway and Alaric Nightingale

Feb. 4 (Bloomberg) -- The Baltic Dry Index, a measure of shipping costs for commodities, rose the most since at least 1985 in London as the number of idled capesizes fell to almost zero, indicating strengthening demand for iron ore.

Capesize rates have risen more than ninefold from a record low of $2,316 a day on Dec. 2. Steelmakers may be replenishing stocks in China after they fell 22 percent by mid-January from a record in September. Producers abroad, faced with an oversupply of iron ore, may also be shipping ore to China for storage.

This has been the first day of the year when the buzz has been back, Michael Gaylard, strategic director at Freight Investor Services Ltd., a shipping-derivatives broker, said by phone from London. Theres no doubt that enquiry for physical tonnage is consistent and strong.

Merril Lynch predicts gold to rise to $1500

http://www.business24-7.ae/articles/2009/2/pages/02032009_6fce22dd78604ed19eeb0ca3276fb9b0.aspx

Placing completed.

Funds biting there hands off for them..

RNS Number : 8772M
Peter Hambro Mining PLC
05 February 2009



5 February 2009


PETER HAMBRO MINING PLC
RESULTS OF PLACING




Further to the announcement by Peter Hambro Mining Plc ('PHM' or the 'Company') earlier today setting out details of a placing and following completion of the bookbuilding process, PHM is pleased to announce the placing price and the number of new ordinary shares being placed.

The Company announces that a total of 16,000,000 new ordinary shares (the 'Placing Shares') have been placed by JPMorgan Cazenove Limited and Canaccord Adams Limited (the 'Managers') at a price of 450 pence per Placing Share, raising gross proceeds of 72 million (which is estimated to be approximately 68 million net of expenses).

The net proceeds of the Placing are expected to be used to reduce the Company's short term obligations including its exposure to the US$180 million, 7.000% Gold Equivalent Exchangeable Bonds (the 'Bonds') which are repayable at the holders' option on or after 19 October 2009. The reduction in this exposure will support the intended move of the enlarged company to the Main Market, should a merger with Aricom complete.




The Placing will result in an adjustment to the conversion price of the US$140m 7.125% convertible bonds due August 2010. The adjustment will change the conversion price from 742.0p to 724.8p.

Application for all the Placing Shares to trading on the AIM Market of the London Stock Exchange plc will be made. The placing of the Placing Shares is conditional upon, inter alia, admission of the Placing Shares to trading on AIM. It is expected that admission of, and settlement for, the Placing Shares will be made at 8 a.m. on 10 February 2009.

All the Placing Shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of no par value each in the capital of the Company, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

JPMorgan Cazenove is acting as sole bookrunner in respect of the placing and is joint broker to the Company. Canaccord Adams is acting as co-lead manager in respect of the placing and is joint broker to the Company.




Terms defined in this morning's announcement of the Placing have, unless the context otherwise require the same meanings when used in this announcement.

Commenting on the placing, Sir Rudolph Agnew, Senior Non-Executive Director said: 'we are delighted with the success of the placing and we think this is a positive development for PHM and our potential merger announced this morning'.

Enquiries to:

Peter Hambro Mining +44 (0) 207 201 8900

nevertheless, it has made a mess of the share price, but further (significant) weakness may give good cause to buy
meanwhile, am happy to have bought ORE, which was a very low risk + reasonable reward play

cynic all depends on POG's sp, if it falls to 450p then the offer reduces to say 27p, we are in at 22.5p so we have some breathing space!

cynic - 05 Feb 2009 16:34 - 497 of 498
nevertheless, it has made a mess of the share price, but further (significant) weakness may give good cause to buy........ ENDS

not forgetting that most investors who have paid over 450p will have done so in the last 2 days or so therefore a very small %.

I reckon this is a very good deal for both parties and hope to see the stock now that it appears debt will be sorted out go on towards 800p.

gf its friday keep praying!

that as may be, but any paper profit will have been slashed by nearly 100p a share .... that ain't peanuts even to a monkey like you - lol!

I, but lets face it who wants to sell these when gold is heading for $1000 and the iron ore market is picking up.

Would be daft to let a little jealousy re- brokers get in the way.

i have always liked POG as a company, but would not be in a hurry to rush in even at these levels today

swings and roundabouts cyners.