Anyone have any views on whether this share is going anywhere??

Millhouse has seemingly picked up another slab ...... have still not bought in, but until Mr A falls foul of the Russian hierarchy, there seems to be some pretty good protection her

Good results,but does any one think this is a high risk share.

up again today with a lot of buying continues,and no interest by any one on this thread about there views.

Up and down like a hooers drawers! Have traded these over last few days, quite nerve racking and just a bit of luck on my side, seems to have good support at 37p.

Results were good recently, throwing off cash, looks oversold again

Up today.

My recent findings from another board...


After Tom Ws recent front page article on Gold..

http://sharecrazy.com/beta/daily/982/why-gold-is-nor-rising-but-why-you-should-fill-your-boots-with-gold-stocks

and the rising price of gold..http://www.kitco.com/images/live/gold.gif

Ive been researching the market for small cap, producers who stand out from the crowd hoping to make a good medium term investment.

Ive set certain filters with weighting factors eg, cost of production per ounce etc, etc, and narrowed it down to just 2 in the end POG Peter Hambro Mining and Higland GOLD HGM, with the latter looking the most undervalued.

The company mines in Russia.

Half way result headlines to 30/6/2008 were as follows ..

FIRST HALF HIGHLIGHTS

Group profit after tax of US$22.2 million compared to a loss for the same period in 2007 of US$2.8 million

Gold revenue for the first half of 2008 increased by 77% over the same period in 2007 to US$73.7 million on sales of 81,036 ounces

Average realised gold sales price was US$909/oz, up by 39% (first six months of 2007 - US$655/oz). The Group remains unhedged

MNV - Cash operating cost (US$/ounce sold)
472

MNV - Total cash cost (US$/ounce sold)
529

Cash and short term deposits of US$308.7 million at 30 June 2008

Novoshirokinskoye mine on schedule for commissioning at the end of 2008.... ENDS

Net Cash on the books circa of 100 million to 120million, market cap 190 million, profitable a solid balance sheet and a new mine coming on tap producing hopefully by late December 2008. Throw in the eploration side of the business for good measure and we have what looks like a sound value investment.

Chart and TA is looking positive aswell..

long Term Chart



Short Term Chart Showing Double Bottom Formation...



Traders Chart



Chairmans Comments on last results (30/6/2008)...

Commenting on today's announcement Duncan Baxter, Non-Executive Chairman said: 'We have benefited in the first half from the efficiency measures taken in 2007 to improve production at Mnogovershinnoye (MNV) and this is reflected in significantly improved results and we look forward to seeing further progress being made during the rest of the year. Novoshirokinskoye (Novo) is on track to become our second producing mine by the end of the year. In the light of recent Board and Executive appointments and the turmoil in the financial markets which is likely to result in liquidity constraints for the foreseeable future, the Board will examine all aspects of the business to focus on the best way to exploit the Company's strong net cash position. This may have an effect on timing for various projects and will also include looking at opportunities of acquiring additional producing assets.' ENDS

Brokers Estimates....

2008 2009
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Investec Securities
21-11-08 BUY 14.48 3.16 19.28 4.43
Arbuthnot Securities
21-11-08 BUY 26.31 5.76 24.54 5.45
Seymour Pierce
14-11-08 HOLD 5.32 5.22
Fox Davies Capital
14-11-08 BUY
Alfa Bank
11-11-08 UREV

2008 2009
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 20.04 5.32 0.00 21.75 5.22 0.00
1 Month Change 0.69 -0.27 0.00 -1.09 0.00 0.00
3 Month Change -6.73 -0.10 0.00 -14.86 -2.77 0.00


GROWTH
2007 (A) 2008 (E) 2009 (E)
Norm. EPS % 45.38% -1.88%
DPS % % %

INVESTMENT RATIOS
2007 (A) 2008 (E) 2009 (E)
EBITDA 10.67m 27.90m 32.35m
EBIT 10.67m 23.82m 23.66m
Dividend Yield % % %
Dividend Cover x x x
PER 15.03x 10.34x 10.54x
PEG f 0.23f -5.60f
Net Asset Value PS 73.85p p p


All in all looks like a sound investment case here with the added bonus maybee of a bid from one of the big boys given the supply shortage in the general market and the amount of cash the company as on its books.

DYOR.

Thanks very much gf I bought some today and also topped up with Pog...I am a gold bull for 2009..

Same here Mitzy, reckon those 2 are the best small producers around at the moment.

one concern with this company is that there cannot be much free float and average volumes are a bare 500k a day ..... however - see my comments from early this year, even if the price was then two and half times higher!

Thanks will do cynic.. good luck.

Beta for POG 1.2 so yep higher than the norm for the market.

HGM beta 0.8 so lower than the market.

price of gold $830 got to help the Sp going forward.

i've been looking for some longs to offset my short stance.
this might fit the bill. will buy on dip. lol do i sound like a journalist?
regards
jkd

100 million to 120 million cash says you buy quicker than you thought.

regards Gf.

dont think so gf
if it gets away from me, then so be it.
regards
jkd

It has come down a couple of points at the close.

gf
so how much you owe me?
lets split the difference and say 110 mil how you want to pay? cash or cheque? you did say cash.
regards
jkd

LOL, Cheque.... but make sure i dont sign it mickey mouse.

Really surprised that no one seems to be too bothered by this one, have made 2 lots of 35% profit on this in last 4 months, will be getting its new mine on line in next few months after a delay, sp has risen from a good support at 31p recently, not in it at the moment but looking for a fall back before getting in again, could be a good punt when it gets back down around lower 40s, stick it on your watch list.

In H2 2008 Mnogovershinnoye (MNV) produced 90,002 ounces of gold bringing the yearly production to 158,885 ounces which is within the forecasted range and exceeds the 2007 production figure by 1.5%
At the end of 2008 due to the fall in metal prices and to conserve cash it was decided together with our joint venture partner to delay the commissioning of the Novoshirokinskoye mine, and to slow down the development of the Mayskoye and Taseevskoye projects
All the works at the exploration sites of the Company planned for 2008 have been accomplished
Chairman, Duncan Baxter said, We are maintaining our cautious approach to expenditure while the markets remain volatile. When a sustained recovery is apparent, we will reassess this situation and consider the resumption of activities that have been slowed down or put on hold. During the last three months of 2008 the new management team has put in substantial efforts to reduce costs which should positively affect the Companys performance in 2009. Work on increasing the Companys efficiency will continue. We would also like to note that the recent recovery of the gold price is encouraging and the Board continues to keep a close eye on potential acquisitions of producing assets.

Financial results for the year to 31 December 2008 will be announced late April 2009.