Hambledon Mining Share Discussion Threads

[chrisdgb] 07/6/2013 15:29

Well, as I suggested earlier, the first share price reaction was the wrong one, driven by lack of understanding and legacy issues....now we are positive and looking forwards......recovery awaits

[saywellxxx] 07/6/2013 09:11

Agree, and have snapped up another 100K on the dip as I see the bad news in the past (though very much still in the share price) and the outlook very positive. As always PoG is a risk factor here, but I personally remain a gold bull.

[chrisdgb] 07/6/2013 08:21

Not sure the share price reaction is the correct one, very complex story but underground development and 'world class' mining company promise bode well.......

[phillis] 07/6/2013 07:57

chesty

usualfantasy

Nut off!

[chestnuts] 07/6/2013 07:49

Dof

The new management have plenty of funds to pay the fines, the point is at what dilution will the share holders have to pay the new management.

But what gets me is how the new management increased recovery rates so easily where the old management over several yrs couldnt , it doesnt half sound very fishy on the old managment, you really do have to think that someone was pocketing alot of gold, at a very rough calculations it would be over $1m a yr. Nice bonus for someone.

[dofmeister] 07/6/2013 07:38

No, I didn't miss that, its old news.

They don't have the $2m yet, but thats another positive.

They also state that they have access to funds to pay any fines.

[chestnuts] 07/6/2013 07:29

Dof

you missed this though

-- Tailings dam remedial works completed in 2012. A further penalty of $9.4 million has been imposed by the courts in Kazakhstan and is currently being appealed by the Company.----

But they are getting $2m back from Akmola


- Notice was given by the vendors of the Akmola Gold Deposit of their withdrawal from the contract as initially agreed for the sale in 2010. Hambledon is in discussions with the vendors for the return of monies advanced by Hambledon and have initially agreed the return of $2 million from a total of $3.6 million invested by the Company.

[dofmeister] 06/6/2013 23:46

Something else for you to chew on...

"With the recommencement of underground mining operations in Q2 2013 and steady production from the open pit we anticipate an increase in gold production in 2013. Moreover, we expect this production be delivered at significantly lower cash cost as underground operations continue to accelerate. We anticipate improvement in cash cost over the coming years as underground mine is developed and the open pit ends its operations in Q1 2015. We believe that combination of rising gold production and declining costs is a rare quality among gold mining companies and it favourably sets Hambledon apart from peers"

So they are currently cash generative and underground mining has recommenced. Cash costs will be significantly lower. Not a given, I accept, but it appears very encouraging.

[dofmeister] 06/6/2013 23:36

sloppyg

"The Group's operations are cash generative and the current cash position is sufficient to cover ongoing operating and administrative expenditure for the next 12 months"

Would you care to explain your post to this bb please.

[1nf3rn0] 06/6/2013 23:26

"Loss before taxation from continuing operations of $1.8 million (2011: loss
of $1.2 million)"

"The cost of production (including depreciation and royalty payments) was $1,584 (2011: $1,417) per ounce"

"The directors are confident that the Group will be able to raise additional
funds to repay the loan and / or the fine should the need arise and to cover
the planned capital expenditure.

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 realize 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"


Sounds to me like this is heading sub-1p fast.


I'm sure somebody will come to the rescue though by writing a "well-reasoned post" and "adding some balance" and then all will be well again right? ;)


2p was an absolutely golden offer for a not so golden share.

[sloppyg] 06/6/2013 21:04

So cash position $2.6m almost 6 months ago.

Undoubtedly loss making from ops at current POG so one has to assume almost out of cash if not already.

Where is the funding going to come from here? If not another highly dilutive raising then who and on what terms will debt be provided.

It appears a further significant injection of cash is now required to give this a chance. Not sure what the play is now.

[loppylugs] 06/6/2013 20:29

Don's think anyone thought the 'results' would be stunning; bearing in mind the previous BoD mis-management on various fronts.

New managament appear to have a more professional approach and to be more focused.

[chestnuts] 06/6/2013 19:20

Results out not looking good, released at 17.50 doing the same as last management

[yangou] 04/6/2013 18:56

what??? zzzzzzz!!!

[haff1] 04/6/2013 11:49

..we seem to have gone to sleeeeep.

[chrisdgb] 31/5/2013 09:12

Gold still rising.....total lack of comments here is bullish in itself....

[chrisdgb] 23/5/2013 15:50

nice to see gold moving up....would also be nice to get some news flow here..

[1nf3rn0] 11/5/2013 15:31

"AAAAAR 2 May'13 - 08:51 - 17026 of 17027 0 0

Can see this moving back to the 2p offer pronto, then I guess we need another Q update for the next move."

Clearly that was wishful thinking.

I presume for those that didn't accept it, the 2p offer made last year now looks more than fair. You can tell things are bleak when we've even run out of posts 'bragging' about topping up! Squeeky bum time across the miners.

[1nf3rn0] 03/5/2013 20:04

Interesting table. Sell gold, buy shares, then sell shares, buy gold seems to be the message. This would definitely be one of those 'sell gold, buy shares periods'!

Also interesting to note there doesn't seem to be much correlation between inflation and gold over those 10 year spans.


--------

Edit (21 May '13): Yes definitely was, and continues to be, a sell gold/gold stocks and buy (non-gold) shares period.

[almost] 02/5/2013 13:09

Is Bogdan based in UK? I think I love him......

[aaaaar] 02/5/2013 08:51

Can see this moving back to the 2p offer pronto, then I guess we need another Q update for the next move.

[chrisdgb] 02/5/2013 08:17

Thanks for the post, I agree the recovery feels like it is upon us.....

[rhotoid] 01/5/2013 19:46

Great stuff AAAAAR, thanks, this was what I hoped they meant.

[dofmeister] 01/5/2013 19:31

Thanks AAAAAAAAR, it was slightly concerning given that the listing is probably their biggest UK corporate expense.

If they keep true to their word, this could turn out to be the multi bagger we dreamed of 10 years ago !! LOL