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

cheers GF.

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.

que???

POG From ProactiveInvestors:-

Wednesday, February 04, 2009

Peter Hambro Mining is in rude health.
by Fat Prophets

Safe havens are the must have asset class in todays portfolio and any gold producer able to ramp up production in such environs is sure to find increasing favour. So step forward, PETER HAMBRO MINING .

The Russian focused gold miner has boosted output while gold mine production across the world has receded. According to a recent report from London based metals agency GFMS, the output of the worlds gold mines fell by 4 percent last year.

For those able to continually ramp up production while supply in the market stagnates, good times lie ahead. Here, during 2008 Peter Hambro has delivered. Total attributable gold production jumped by 36 percent on 2007 reaching 393,600 ounces, the upper end of the group's pre stated 2008 production target of 350,000-400,000 ounces.

During 2008, the group realised an average gold sales price of US$845 per ounce which was 26 percent higher than the average price of US$668 achieved in 2007 and in our view this will ratchet up gain in 2009.

Once again, as expected the groups cash cow, the Pokrovskiy mine, was the star performer. Output from the mine from weighed in at 267,100 ounces, a jump of 13 percent compared to 2007 and importantly exceeding the group's production target for the year by 19 percent. Meanwhile at Pioneer, progress continues and once again the group exceeded expectations, yielding 72,900 ounces by the year end (900 ounces higher than the 72,000 ounces targeted).

Furthermore, production was ably supported by the groups alluvial operations. Producing around 22,700 ounces of gold, output here jumped 38 percent when compared with 2007, once again exceeding the target of 19,550 ounces. Whilst the remaining source of Hambros gold, its Joint Ventures, produced mixed results.

As robust a set of production figures these may seem, in our view they are only set to improve.

In 2010, the Malomir deposit is set to underpin production. However more immediately management believe that the group's total attributable gold production for this year will be between 460,000 ounces and 510,000 ounces and given their accuracy to date who are we to argue.

Not only has the company got its house in order financially, the company has also rethinking its strategy. Earlier this month it was announced that the group were interested in previously spun off entity Aricom.

Overall, Peter Hambro is in rude health. Production and exploration are on the climb and management continue to achieve targets with unerring regularity. With Malomir to enter the fray next year, those numbers are only set to get higher. Encouragingly, the group is now included in the prestigious FTSE Gold Mines Index, which comprises the top 18 gold focused mining companies.

However, from a valuation perspective, we see the prospective price earnings ratio of just over 4 times as highly undemanding and at a time when the appeal of keeping money on deposit is waning the shares are supported by a dividend yield of 3.3 percent.

RNS Number : 9070M
Peter Hambro Mining PLC
06 February 2009



6 February 2009




NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN INTO OR FROM THE UNITED STATES OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF ANY SUCH JURISDICTION




Recommended Merger of Peter Hambro Mining and Aricom




Summary




Following yesterday's announcements of a possible Merger of Peter Hambro Mining and Aricom and the successful Placing of 16 million Peter Hambro Mining shares at a price of 450 pence raising approximately US$105 million (before expenses) and today's announcement that Peter Hambro Mining has agreed to purchase a total of US$87 million nominal of the Gold Exchangeable Bonds, the Independent Board Committees are pleased to announce that they have reached agreement on the terms of a recommended Merger of the two companies by which all of the issued share capital of Aricom will be acquired by Peter Hambro Mining.
The Merger will create a mining industry leader in the Far East of Russia with operations in both gold and iron ore with a pro forma combined market capitalisation (including the Placing Shares) of approximately US$1.15 billion.
Following the Merger, the Enlarged Group will be well funded, with a pro forma unaudited cash balance of approximately US$302 million (with US$25 million attributable to Peter Hambro Mining, US$257 million attributable to Aricom and US$15 million attributable to the Placing Proceeds (after deduction of equity placing fees and the consideration to be paid for the acquisition of 48.3 per cent. of Peter Hambro Mining's outstanding Gold Exchangeable Bonds)) as at 31 December 2008, and pro forma unaudited net cash of US$5 million as at such date.
The Merger will enable Peter Hambro Mining 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. Peter Hambro Mining will continue to seek to create value for shareholders and, in line with its recent practice, to provide a return to shareholders as appropriate in the form of dividends.
Under the terms of the Merger:
Aricom Shareholders will receive one fully paid New Peter Hambro Mining Share in exchange for 16 fully paid Aricom Shares; and

each Aricom Share is valued at 36.6 pence (using the closing price per Peter Hambro Mining Share on 4 February 2009 of 585 pence); and

each Aricom share is valued at 24.9 pence (using the price per Peter Hambro Mining Share on 8 January 2009 (being the last day prior to the start of the offer period) of 398 pence.

Following completion of the Merger and the Placing:
existing Peter Hambro Mining Shareholders will hold 47.4 per cent. of the Enlarged Group calculated on an undiluted basis;

Aricom Shareholders will hold 43.2 per cent. of the Enlarged Group calculated on an undiluted basis;

the Placees will hold 9.4 per cent. of the Enlarged Group calculated on an undiluted basis;

subject to satisfying eligibility criteria, Peter Hambro Mining intends to make an application to obtain a primary listing on the Official List as soon as possible; and

the Enlarged Group will be led by a team comprising Peter Hambro as Executive Chairman, Pavel Maslovskiy as CEO and Brian Egan as CFO and the non-executive directors are expected to be Sir Rudolph Agnew, Sir Malcolm Field, Lord Guthrie, Peter Hill-Wood and Sir Roderic Lyne.

Peter Hambro Mining is the second largest producer of gold in Russia, with attributable gold production in 2008 of c. 393,000 oz and is one of the lowest cost producers of gold worldwide. Aricom engages in the mining and development of iron ore deposits and the production and trading of iron ore in the Far East of Russia to serve the Russian and Chinese markets.
Peter Hambro Mining has received irrevocable undertakings from each of the Aricom Directors to vote or procure the vote in favour of the resolutions to be proposed at the Scheme Court Meeting and the Aricom EGM in respect of their own beneficial holdings, representing approximately 9.38 per cent. of the existing issued share capital of Aricom. The undertakings given by the Aricom Directors cease to be binding if the Scheme is withdrawn, unless Peter Hambro Mining exercises its right to announce a takeover offer of the entire issued share capital of Aricom, in which case it shall cease to have effect on the withdrawal or lapsing of the takeover offer.
Aricom has received irrevocable undertakings from Pavel Maslovskiy, Peter Hambro, Sir Rudolph Agnew and Peter Hill-Wood to vote or procure the vote in favour of the resolutions to be proposed at the Peter Hambro Mining EGM in respect of their own beneficial holdings (with the exception of any beneficial holdings which are held by Goldman Sachs as nominee pursuant to a stock lending agreement).
Because a number of individuals (including Peter Hambro and Pavel Maslovskiy) are directors and/or shareholders of both companies, Peter Hambro Mining and Aricom have each constituted committees of independent directors for the purposes of the Merger.
It is intended that the Aricom Shares will be acquired by way of a Court sanctioned scheme of arrangement under Part 26 of the Companies Act.
The Merger is conditional upon, among other things, certain Russian regulatory conditions being fulfilled to the reasonable satisfaction of Peter Hambro Mining and Aricom, the passing of resolutions by Peter Hambro Mining Shareholders and Aricom Shareholders and the sanction of the Court.
Peter Hambro Mining and Aricom intend to post the Scheme Document as soon as practicable after the publication of the Aricom 2008 preliminary results and completion of Peter Hambro Mining's annual production forecast update, both of which are expected to be published by early to mid-March.
Sir Rudolph Agnew, Senior Independent Director of Peter Hambro Mining, stated:

'Combining Peter Hambro Mining's near term gold production assets with Aricom's significant available cash resources and iron ore assets will create a mining industry leader in the Far East of Russia. We believe it offers the opportunity for a transaction where the whole is substantially greater than the sum of its parts.'

Sir Malcolm Field, Senior Independent Director of Aricom, stated;

'I am confident this merger will deliver significant benefits from combining the current and prospective gold interests of Peter Hambro Mining with the longer term development of Aricom's valuable iron ore assets. It will enhance the market position of the group creating scale and a platform for growth leading to significant increase in value for shareholders of both companies.'




The summary forms part of and should be read in conjunction with this announcement and Appendices. Appendix I of the announcement sets out the conditions and principal further terms of the Offer. Appendix II of the announcement contains information on sources and bases used in the announcement. Appendix IV of the announcement sets out the holdings of certain Peter Hambro Mining Directors in Peter Hambro Mining Shares before and after the Placing, and the Placing Shares which they have agreed to subscribe. .Certain terms used in the announcement are defined in Appendix V of the announcement.




Investor Contacts: Peter Hambro Mining




Alya Samokhvalova

+44 (0) 20 7201 8900




Investor Contacts: Aricom




Charlie Gordon

+44 (0) 20 7201 8939

GF .... another post that could be reduced to about 2 sentences from 1/2 page!

Lovely start for POG.