Hambledon Mining Share Discussion Threads

[chestnuts] 04/10/2013 07:12

This is alot of Dilution for existing shareholders

[michaeljxox] 23/9/2013 10:47

No matter what one may think might be the longer term aim of the new management, the achievements during the first 6-months of ownership are argueably substantial e.g. - (a) 18% increase in gold production - derived primarily from the 'open pit' + increasing. (2) 16% reduction in production costs + decreasing.
Not sure what fairy tale the market was expecting, but the first HY results appear to reflect a proactive and positive operation going forward.

[1nf3rn0] 23/9/2013 07:21

"However, at the date of approval of these financial statements, the Group does not have committed facilities in place. There is no guarantee that the Group will be able to raise the required funds to allow it to realise its assets and discharge its liabilities in the normal course of business. These conditions indicate the existence of a material uncertainty which may cast significant doubt over the Group's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Group was not able to continue as a going concern."

Cash must be very tight now looking at the June balance. Little room for error.

[almost] 07/9/2013 12:51

Very odd. I thought that Zorab had moved on to other things and he has "characteristically" sent this RNS to the wrong place?

[keepitsimple] 06/9/2013 08:55

Is this morning's RNS a case of Mr Zorab pressing the wrong button, or have I missed something?

[jimmyloser] 06/9/2013 07:54

RNS at Galleon Holdings GON this morning and guess who is coming to dinner..

The sole director, shareholder and beneficial owner of Q Holdings Limited is Ashar Qureshi, who is one of the Proposed Directors, details of whom are set out in paragraph 11 below.
11. Proposed Directors It is proposed that immediately following the General Meeting, all of the Directors will resign and Mr Ashar Qureshi and Mr Hamish Harris will join the Board as Non-Executive Directors.
Ashar Qureshi, aged 48
Ashar graduated from Harvard College with a B.A. in 1987 with high honours and received a J.D. with honours from Harvard Law School in 1990. Ashar is a member of the bar of the state of New York. From 1990 to 2010, Ashar was with the international law firm of Cleary Gottlieb Steen & Hamilton LLP. Ashar became a partner of the firm in 1998 and was a leader of its sovereign and cross-border transactional practices and has been consistently named as one of the leading corporate lawyers in the world by publications such as Who's Who, Legal 500 and Chambers.
In early 2010, Ashar joined Renaissance Group as its Executive Vice Chairman and CEO of Renaissance Asset Managers. Ashar left Renaissance Group in October 2011 and since then has been active as an investor and non-executive director in various companies.
Hamish Hamlyn Harris, aged 43
Hamish holds a Bachelor of Commerce degree and has worked in the investment banking industry for over 15 years in Singapore, Hong Kong and London, primarily in the area of market risk management. He has also run a privately owned private equity vehicle targeting acquisitions in agriculture in Eastern Europe in the last few years and is currently a director of AfriAg plc and Polemos plc, which are quoted on AIM.

[owencoffin] 23/8/2013 12:24

do hmb still have a bod, the website seems to be saying ,not really.

[rhotoid] 13/8/2013 20:15

Too right dofmeister,

The drilling results I'm not fussed about too much, but with the fine stopped, production sorted, this is now bargain of the century all the way up to fantastically higher levels.

The ftse250 bit I heard on the interview as well, I'm abit neutral on that, I do like the way they respect the shareholders so I'll stick with my hunch that they'll do good deals for hmb shareholders but if they're using it as a vehicle it can get bigger but not necessarily better in proportion.

[dofmeister] 13/8/2013 19:32

Rhotoid, I think that is being too kind to them.

A lot of positive news to come here:

Drilling results (we are told they are encouraging)?

Renegotiation of EBRD loan - waiver of loan to equity breach - is the $5m still available if they hit 180m tonnes pa on a quarterly basis from UG before 2014 (which I think they will)?

Akmola - will this deal be renegotiated?

New resource statement ?

Rapidly increasing production ?

Falling costs ?

Inorganic growth ?

Eventual FTSE 250 company ?

[rhotoid] 13/8/2013 18:08

Captain_crash

the previous management were complete and utter morons.

[tymedici] 12/8/2013 12:00

On the face of it there ought to be advantages from local involvement on at least two fronts. Principally dealing with the local bureaucracy and the courts on the tail dams issue and perhaps an improved relationship with the local workforce, removing any Spanish practices which may have existed. We can only speculate as to how foreign ownership is regarded in these far away places, both at government and local level, but one only has to consider the adverse reaction to Krafts purchase of Cadburys to realise that foreign involvement is not always appreciated.

Now whether they can make a silk purse out of a sow's ear remains to be seen.

[captain_crash_and_burn] 12/8/2013 11:01

Really interesting how much things have turned around post takeover makes you wonder whether things had been overcooked to secure a good price, it's that or the previous management were complete and utter morons!

I sold out on the offer as things looked truly bleak and with the collapse of gold price after that I was happy with my choice as it looked like this co was going to the ground. Hey presto new ownership and this is starting to look quite different indeed. Well done to those who have held, can't help but feel it's one more case of an AIM co. being a little untransaprent though!

[timgw] 08/8/2013 16:45

Perhaps they could take over MWA in Zim too..... :>(

[shanklin] 07/8/2013 15:30

I wish all the shares I bought went up as much the day after I bought them. At this rate, I'll be asking if HMB could please send a few people over to the Philippines to get MML completely sorted operationally :-)

[lfdkmp] 07/8/2013 14:48

"Suspect a few that bailed under previous mgt will be sniffing again here through fear of missing the party after years of loyalty."

Correct - not only sniffing, this week a jolly good snort!

[sloppyg] 07/8/2013 14:30

To be fair to new mgt impressive progress in such a short period of time.

Ironic that the one thing, POG, that kept the previous mgt going for as long as they were in office has completely reversed.

Suspect a few that bailed under previous mgt will be sniffing again here through fear of missing the party after years of loyalty.

[pharmabrown] 07/8/2013 14:01

....and another new name here to add to Shanklin: I haven't held HMB since April 2012 but kept it in the radar. On seeing the RNS at beginning of May I wrote myself a note that this looked very positive for the new management and was probably worth getting back into: how I wish I had acted on it then (what a great thing hindsight is!!). I bought in immediately after seeing the 5th Aug RNS, added more yesterday and doubled the holding this morning so now have that magic 7-figure number at 2p average. Alas had to sell some of my darling LOGP to fund it, and at it's rock-bottom support level - but have been waiting for news there since March, patience wears thin when there are other opportunities!

[chipperfrd] 07/8/2013 12:39

Yes. A reasonably good resource upgrade and some positive resolution to the Tellur and Stepok projects would be good!

[phillis] 07/8/2013 12:29

some more good news and a serious rerating could get underway!

[shanklin] 07/8/2013 08:45

Not had shares in these for several years and then not at recent prices.

With the chart looking a lot healthier amd the recent good news, I bought back in yesterday. So far so good.

I wish MML had this shape chart!!

Cheers, Martin

[chipperfrd] 06/8/2013 11:34

Troc,

OK. I have also removed Tellur and Stepok projects for the time being.

Kept PoG at $1300/oz & PoS at $20/oz.

I can only make assumptions about throughput tonnages so (as usual) please treat with caution.
Chip

[troc1958] 05/8/2013 22:03

Chip - can you update your production / financial forecast for hmb in light of new information. Thanks. Troc

[phillis] 05/8/2013 15:13

so TD was right
:-)

[augustusgloop] 05/8/2013 10:39

Now that the local MAFIA have control of the asset - the fines will not be applied.

Entirely predictable.