Hambledon Mining Share Discussion Threads

[1nf3rn0] 22/11/2012 17:12

So you lot are going against the board's own recommendation to sell? Or to put it another way, you don't trust that advice was in the interests of PIs?

[fokker100] 22/11/2012 17:03

Hi peeps

long time since I wrote on here.I have been a holder since 2005.I am still holding for what its worth

[rjwoodrjwood] 22/11/2012 16:27

Make that four.....same sentiment!

[chipperfrd] 22/11/2012 16:23

WoW! that's three of us.

I felt like that about a stock on the ASX and had effectively written it off to experience. It has since trebled! Not counting any chickens yet with that one - but it does show how even the worst of the dogs can sometimes have their day IF there remains a reason why they can recover.

[phillis] 22/11/2012 16:13

Chip
I am with you
Have been in so long at much higher prices most of the money has been lost
I have tendered none and will be looking closely at the Assaubayev's actions re the presumed minority

[amargosa] 22/11/2012 16:08

AAAAAR - thanks for the heads up about IG; managed to work something out with them last minute.

[chipperfrd] 22/11/2012 15:59

almost,

That is really good to hear. I thought I was alone on this board - we will sink or swim together :-)
Chip

[almost] 22/11/2012 15:53

Thanks Chip.
You are putting into your usual cogent words, what I was struggling for.
I am hanging on to the lot, like you.
Maybe madness, but at least I am not alone.

[chipperfrd] 22/11/2012 15:46

chestnuts

Circumstances change! Over the last year there have been a series of disappointments (starting with the TD3 leak) and the company has had to adapt it's strategy based around what was feasible given their limited financial resources.

The UG development was an obvious strategy to follow as long as they had the cash to pay for the expensive infrastructure build-out - but that was not to be the case. So they have had to put that on hold whilst they try and consolidate their cash resources through the simple expedient of falling back on the O/P operation.

Making a possible extension of the O/P LoM through adding a couple or so further benches does make sense as long as the stripping costs and pit wall engineering make going deeper cost effective. No doubt this would have been part of the discussions with AR prior to the offer.

With the overhead of UG development costs now removed for the time being they can focus on the O/P and seek to resolve the Akmola situation and their legal wrangles over the TD3 fines.

They now also have the financial weight of a major Kazak gold player attempting to take a substantial holding in the company.

It all looks like a timely reversal of fortunes could be on the cards.
Chip

[chestnuts] 22/11/2012 15:28

Chip

When he told me this and with Daffern still in charge of the mine and if it is practical and feasable, then why didnt Daffern do it in the 1st place, i came away from the phone call confused, i still think they will have a placing, just think is they have another bad winter with out any back up from the underground, they will definatly need money.

[chipperfrd] 22/11/2012 15:20

chestnuts,

There are practical limits to how much deeper they can go with the open pits. But it certainly makes sense to go a bit lower if it is economically viable.

The main access decline is well off to the side of the main pit and the highest of the strike drives at c. 320 level is still some way below any practical limit for the pit. The rest of the UG infrastructure was targeted far deeper (240 level and 120 level) so there is no impact on UG work-to-date or for eventual resumption of the infrastructure build-out.
Chip

[aaaaar] 22/11/2012 15:15

1nf3rn0 - I'll make my own mind up if thats ok with you.

Chip - Must have been the 90m shares I'm getting confused with, still 24% was high.

[chestnuts] 22/11/2012 15:11

Chip

When i talked to AR spokes person, he told me that they would be digging the open pit much lower, so that alot of the underground would become the open pit, now i did not work out how this would effect production or for the cost of this, but what i think it would do is certainly destroy all the infrastructure which as taken place by Daffern over the last 2 yrs. Now what do you make of that especially as they are keeping Daffern on.

[1nf3rn0] 22/11/2012 15:09

AAAAR i think almost certainly you'll be able to buy back under 2p. But why would anyone buy back in? Take the 2p and run far away.

[chipperfrd] 22/11/2012 15:08

AAAAAR

He held ~ 24% in late 2006 if that's any help.

[chipperfrd] 22/11/2012 15:02

Capt,

There is always risk with everything on the market. But points are reached where the risk/reward becomes ever more favourably imbalanced!

I could pay 5x HMB's in-ground resource for stocks which have yet to finance and even start construction. It all depends on one's perception of value and potential upside.
Chip

[aaaaar] 22/11/2012 15:00

>>>oh just remebered one of the reason I invested here many many moons ago was that Nick Brigden held what 80%(?) of the stock at the time!!!

[chipperfrd] 22/11/2012 14:52

AAAAAR

Perhaps things will become somewhat clearer post tomorrow's deadline - until then even the outcome of the offer is unknown.

However, if it goes through, I estimate that the combination of AR and independent Institutional holdings may range between 75%-85%. But clearly, until we get the offer completed and a few holdings announcements my estimate is pure speculation.

It will be good (at least from my point of view) to get beyond this offer and to see just where the AR involvement may lead this company.
Chip

[captain_crash_and_burn] 22/11/2012 14:46

Although I am selling my whole lot, I would say that if this deal does go through I think there is potential for the share price to improve markedly, it all depends on what the new controllers choose to do, as they have the potential to mess current shareholders around.

Truth be told, I'm sick of this co and am pleased to have an exit opened. For the brave hearted holding may prove lucrative but be under no illusion that it is a big risk!

[amargosa] 22/11/2012 14:42

AAAAAR - thanks for that - did IG contact you with that timeline?

[aaaaar] 22/11/2012 14:28

amargosa - IG needed confirmation of the amount per point you wanted to tender by 12pm yesterday.

Chip - Understand if 50%+ is in the hands of AF then liquidity will be thin on this stock and prone to large swings on low volume however I'm guessing I will be able to accumulate via a series of small clips.

Each to their own and well done for you to sticking to your guns.

[chipperfrd] 22/11/2012 14:18

AAAAAR,

Possibly. But if it all goes through I cannot see that there will be many sellers left in the market.

Let's face it, PI's have been selling steadily at 1.65p since the offer in their rush for the exit even though they had 2p waiting on completion of the offer.

In all likelihood, if the offer goes through ok, there will be relatively few PIs left in the stock and I would have thought the selling pressure will diminish accordingly.

But irrespective of all the possible short-term scenarios, I can only do what I always do and fall back on my estimation of value. On that basis I prefer to hold.
Chip

[amargosa] 22/11/2012 13:48

Any of you guys know what's the best way forward for those with SBs (long) still open?

[aaaaar] 22/11/2012 13:39

Chip - Do you not think think you be able to buy back sub 2p?
Thats the punt I've taken anyway, I'm guessing there will be a window between the offer closing and any material news, even if on completion of the offer (assuming all goes well) the market trades over 2p in the short term.

[chestnuts] 22/11/2012 13:39

Chip

HMB might benefit but it doesnt mean the shareholders will.