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

cheers GF.

Gone back into the market long for a position in Hambro.

Price of gold is moving up nicely and there are ? marks about the results of bank stress tests coming up I think tomorrow.

Could be a good hedge against any nasties.

A lot of City backing for this stock, from Digital Look...

What The Brokers Say

Strong Buy 6
Buy 0
Neutral 2
Sell 2
Strong Sell 0

Total 10

Sound solid report from Hambro...

RNS Number : 8234R
Peter Hambro Mining PLC
07 May 2009









07 May 2009




Production Report for Q1 2009 and Interim Management Statement







Peter Hambro Mining plc ('PHM' or the 'Company') today issues its interim management statement for the period from 1 January 2009 to date, in accordance with the UK Listing Authority's Disclosure and Transparency Rules.

Gold Production Report for Q1 2009




Gold Produced ('000 oz)
Q1 2009
Q1 2008
Q1 2009 vs. Q1 2008

Pokrovskiy deposit
40.8
46.3
(12%)

Pioneer deposit*
66.6
16.2
311%

Total**
107.4
62.5
72%


* In Q1 2008 all of the gold produced from Pioneer was processed through the Pokrovskiy mill. In Q1 2009 only 10,800oz of the gold produced from Pioneer was processed through the Pokrovskiy mill. Pioneer gold processed at Pokrovskiy is included in the Pioneer deposit figures.

**Total attributable gold production, in the above tables and elsewhere in this document, is comprised of 100% of production from the Company's subsidiaries. PHM's direct and indirect interest in Pokrovskiy Rudnik, and any interest held by Pokrovskiy Rudnik, is 98.61%.







Highlights




Production

First quarter attributable gold production was 107,400 oz, an increase of 72% on the first quarter of 2008 principally due to the effective operations of the Pioneer processing facilities. Pioneer's Stage 1 process facility worked at full capacity. The Group's expected total attributable gold production for 2009 remains between 460,000 oz and 510,000 oz;

As highlighted in the Company's previous statements, production from the Pokrovskiy mine is expected to decline in 2009 to a total of c.177,000 oz. Q1 production fell by 12% relative to the first quarter of 2008 to 40,800 oz;

Equipment installation for the Pioneer plant's second line is ongoing with commissioning expected in July and thereafter ramping up to its full capacity by September;

Preparation for commissioning of seasonal production in June from the Company's alluvial operations and joint ventures is on schedule;

Operating costs in the first quarter benefited from rouble devaluation against the US$.




Gold Price and Sales

The average realised gold price for the first quarter of 2009 was US$910/oz (Q1 2008 - US$909/oz);

The amount of gold sold in the first quarter of 2009 reached 99,053 oz, up 95% on the first quarter of 2008's sales of 50,723 oz.

Project update

Further exploration works in the first quarter of 2009 at Pioneer have yielded very promising results, establishing continuation of the eastern enriched area at Andreevskaya zone to a depth of 120m, hitting some occurrences of very high grades of up to 600g/t. To the west of Yuznaya zone, a new ore zone, Vostochnaya, was discovered and trench samples established gold mineralisation with grades of 20 - 30 g/t, similar to the Andreevskaya zone. Enriched mineralisation was also encountered at the eastern part of the Bakhmut area yielding average grades of 10g/t for 5m thickness;

At Malomir, infrastructure construction is continuing with the road to the mine completed and the power line on track to be completed in the near future. The delivery of mining equipment is on schedule;

At Kuranakh, work is continuing on the Olekma beneficiation plant with the project on track to be completed towards the end of the year;

Work is continuing on the completion of the design and feasibility study options for the K&S and Garinskoye projects. The Board is considering the development options available for both deposits in the light of current iron ore and project finance markets. Positive momentum continues at a project level and discussions regarding financing for the projects are ongoing.




Corporate update

In February the Company raised c.US$105 million gross through issuing 16m shares at 4.50, and purchased a total of US$87 million nominal of its 7% US$180 million Gold Exchangeable Bonds due 2012 at an average price of US$95 plus accrued interest from a number of investors. In addition, the Company purchased a further US$40 million nominal amount at an average price of US$95 plus accrued interest from a number of investors in May, leaving US$53 million nominal Gold Exchangeable Bonds outstanding.

In March PHM subscribed c.CAD 3.7 million for 6,166,666 new shares in Rusoro Mining Limited ('Rusoro') as part of an equity placing by Rusoro. As a result, the Company now has a c.1.1% stake in the enlarged share capital of Rusoro;

On 22 April 2009, the Company announced the completion of the merger with Aricom plc and its move from AIM to the London Stock Exchange plc's Main Market;

Save for the effects of the above transactions, the financial position of the Company at the end of April was not materially changed from that reported at 31 December 2008.




There will be a conference call to discuss the announcement on 07 May 2009 at 14:00 (BST).







Details to access the conference call are as follows:




UK Free Call: 08006940257

UK Standard International: +44 (0) 1452555566

USA Free Call: 18669669439

Russia Free Call: 81080020972044




Conference ID: 98212734










Enquiries:

Gold production soars at Peter Hambro
MoneyAM
Peter Hambro Mining reports a 72% increase in first-quarter attributable gold production to 107,400oz. The amount of gold sold was almost double the figure for Q1 2008.

The company says the production increase was mainly due to the effective operations of its Pioneer processing facilities, with Pioneer's Stage 1 process facility working at full capacity.

Equipment installation for the Pioneer plant's second line is continuing with commissioning expected in July, ramping up to full capacity by September.

Expected production for 2009 remains between 460,000oz and 510,000oz.

Production from the Pokrovskiy mine is expected to decline in 2009 to 177,000oz. Q1 production fell by 12%.

Average realised gold price for the first quarter was $910/oz, up from $909/oz in Q1 2008. Gold sold in the first quarter reached 99,053oz, up 95% on the previous 50,723 oz.

Zak Mir Pro TAeer just given his verdict on POG over the road....


Zak Mir



Reged: 28/06/07
Posts: 796
Re: CHART ATTACK - Longs and Shorts. [Re:
#445320 - 07/05/09 08:06 AM Edit Reply Quote



I feel I have made my contribution with the FTSE 100 call to 4,800 on a break of 4,100. This is a very good charting thread on the stocks. POG would probably be my favourite mining long after the break through 600p.

Fairfax mini-comment

In conclusion: Peter Hambro Mining is our top pick in the gold mining sector. The company has some of the
best fundamentals in terms of production growth and low cost operations. Last year saw the impact of
substantial investment into the new mine and financial reorganisation partially driven by the effects of the credit
crisis. This year should see the company enter the FTSE 250 and potentially move to the FTSE100 is the stock
is able to achieve a reasonable re-rating.

Beijing bets on bullion

By Patti Waldmeir in Shanghai

Published: May 6 2009 23:31 | Last updated: May 6 2009 23:31

China is expected to keep buying gold to diversify its vast foreign reserves after it recently revealed it had been secretively buying bullion.

Beijing and Shanghai-based gold industry analysts said the country had almost doubled its bullion holdings. But they said China was likely to make as many purchases as possible within its borders, rather than turn to international markets where it could push up gold prices.

Beijings exact gold purchasing intentions are a state secret, but industry analysts are betting on more purchases as Beijing has been clear about its desire to diversify its foreign reserves away from the US dollar. Although gold is quoted in dollars, its price usually rises when the dollar weakens.

The analysts base their bet, at least in part, on the history of another buyer: Russia. After Moscow announced it was buying bullion, it regularly disclosed information revealing almost monthly increases in its gold assets.

Im absolutely sure that they will continue buying because Chinas gold holdings are very small in terms of the size of its economy and the growing significance of its currency, says Paul Atherley, managing director of Leyshon Resources in China. But we will find out about it only after they have done it.

Chinas current gold reserves represent only about 1.6 per cent of total foreign reserves, a vastly smaller percentage than the worlds average of 10.5 per cent. Nevertheless, its percentage is similar to the 2.2 per cent in Japan, the worlds seventh-largest holder. The challenge for Beijing is to attain a similar diversification, requiring large amounts of gold, without disturbing the market.

Hou Huimin of the China Gold Association, forecast that Chinas gold reserves could rise in the long term to as much as 5,000 tonnes. It wont be a leapfrog achievement but a gradual increase along with the countrys economic status.

One potential source of gold for China is the International Monetary Funds expected sale of about 400 tonnes of bullion. Analysts said Beijing could try to purchase a block of that sale in an off-market agreement.

China last year overtook South Africa as the worlds largest gold producer and is estimated to have produced 282 tonnes of gold. Some gold from state-owned producers goes directly into Beijings gold stockpile every year. Gold purchases from state-owned producers can be made secretly and at below-market prices, making them more attractive than international purchases.

In addition, turnover at the Shanghai gold exchange rose nearly threefold between 2007 and 2008 but it is impossible to know how much of that, if any, may have been reserve buying, analysts said.

Copyright The Financial Times Limited 2009

Forecasts look impressive,pity about the sp reaction to it.

if you accept that POG is intrinsically very volatile anyway, current price is not a bad entry level - see chart below with sp at last poking back above 50 dma.

next resistance is about 680 (i think), and rns yesterday makes positive noises about restoration of divi

pretty good call -for a change - by my reckoning ..... hope lots of you followed

this could well be the breakout that has been klong awaited ..... certainly a useful RNS this morning and bullion also happens to be on the march

Buy recommendation in todays' Telegraph
Also worth noting , is gold up $50. in last 2 weeks.

but sell recommendation in the Times ..

lol

The Times sounds like a bit of a dog here!
i.e. - barking up the wrong tree.

WOW!!!!!!
figures are stunning and sp has rocketed ...... i'll flatter myself that my call in late July was pretty much spot on (see chart above), but confess that though these were still on my watchlist, i haven't held them for at least several weeks, having been seduced by all sorts of other stocks that, in truth, have also performed more than a little tidily

Can say that again (but dont). A bit like you cyners buying this that and everything.......... but luckily for me held onto a batch............. NICE.

Gold producers are set to rocket, probably pulling along the explorers as well, you cannot keep on printing money without the price of the yellow stuff increasing as well. Those that haven't hedged their production too much will do even better than others.

rf so why is CEY's sp falling?

It's not.