Member Info for Dofmeister

.....or in May they mined 2,650 from the open pit with no underground contribution. The underground mine became operational in June and in August they mined 1,180oz, from underground, which suggests they are now producing at a combined rate of 3,830 oz per month.

Current equivalent production rate to June 2013 is 25,346 oz (12,673 produced in H1, assume same again H2). Add 1,200 per month underground ore currently being delivered = 14,400 oz per annum equivalent. Add 25,346 + 14,400 = 39,746 current production rate.

Terry, the difference is that those results were based upon production at c 24,000 oz pa. With underground now producing 1,200 oz per month and ramping up, HMB is now producing at an equivalent rate of c.40,000 oz per annum and growing; having already driven down costs by $200 per month without the benefit of underground production, I expect to see further substantial reductions. Without the legacy admin costs it looks like they would have turned a small profit in H1.

Interesting, they bought into HMB about 2 or 3 years ago, maybe more. I believe them to be the vehicle of George Robinson, of Sloane Robinson, very successful hedge fund managers. Mind you, they bought in at a much higher level. Still got a good slug in here, this has caused me to re-think. Do your own research and no advice intended !

Your post from Monday - having spoken with the company they are finding very difficult to operate in Kaz because of the red tape. Therefore if the offer does not get voted for, the sp may fall dramatically and with Kazakh red tape in the way (the u/g mine has already stopped operating because of this) it will be difficult for the company to find a way forward. Now a powerful local family have their eyes on it, I believe the company may find even more difficulties should the offer not proceed. They may even pick it up much cheaper in 6 months time if things look even bleaker.

After further discussions with HMB, I will be offering all my shares at 2p. I don't see any more coming from AR and the downside is too great. Its proving difficult for them to operate in Kazakhsatan. Best of luck to all, but 2p now is better than nothing.

Slav, look on the HMB website. I asked them to update it last week, which they did. Corporate Governance Rule 26

Slav, given that Sabine Anderson, the Director appointed by EBRD voted for the offer, what makes you so sure that the EBRD will not take up the partial offer ?

Total about 40m over the last 3 days (another 10m earlier today). The stake may well turn out to be well over 9%

Plenty of potential Russian (Highland Gold) miners looking for acquisitions in Kaz as well as Chinese - close to both borders.

Forecast for next year is 40,000 oz. 100,000 oz by 2018. Otherwise agree, re-rate imminent baring no more bad news.

.....provided this is achieved. It sounds fom the site visit by Fairfax last week that this should be achieved. If it is achieved they are looking at c 10,000 oz for the last quarter. The company is in the process of ramping up production from the Sekisovskoye underground mine. The deposit is currently being mined by driving cross cuts into the ore body number 11. The mine was commissioned in November last year, one month ahead of schedule. Since then the company has driven five cross cuts at 358mrl, 348mr, 338mrl, 326mrl and 216mrl producing c.40kt of ore at an average grade of 3g/t (including stockpiles of 6kt at 4g/t and 5kt at 1.5g/t). Before the year end, the plan is to drive another 5 cross cuts (one cross cut per month every ten meters). Mining works should restart once the construction of an additional water chamber at the 320mrl level is completed in August. In September, the company will start trials of bulk stoping that should add 10kt of ore per month during the September-December period. The steeply dipping nature of the Seki mineralisation (65-80 degrees) means it is well suited for bulk stoping. Management is targeting 100kt from the underground mine in 2012, with half of the volume coming in the final quarter. We assume 85kt of ore from the underground in 2012 that should allow the company to reach 175ktpa mining capacity in Q4. This in turn will guarantee a release of the EBRD second tranche of US$5m in Q1 2013. .

http://hambledon-mining.com/sites/default/files/AGM%202012%20presentation%20v%201%206.pptx

Gecko, on Wednesday you said "loss of Akmola are fully priced-in - so should there be good news on either of these fronts, the market will likely react very positively". On Friday HMB announced a 95% chance they would be acquiring Akmola in 2H12. Thats why I and others who attended bought bought more. Also gold recovery is back over 80%, Drilling results due any day.Open pit grades are improving. Q2 results next week.

AGM was Friday - company made a presentation, available on website - hence the rise in s/p

There are currently 979,721,513 ordinary shares of nominal value 0.1 pence each in issue. There are no shares held in treasury. At 1 May 2012 , the following shareholders, each held over 3% of the company's issued, ordinary share capital at that date. Number of Ordinary shares Percentage held Nicholas Bridgen 88,448,936 9.03 Henderson Global Investors 65,554,240 6.69 Majedie Asset Management 60,786,814 6.20 EBRD 58,794,708 6.00 TO Direct Investing 51,165,671 5.22 Barclays Plc 50,566,800 5.16 Blackrock Inv. Management 48,014,190 4.90 Selftrade 40,040,957 4.09 Hargreaves Lansdown 36,074,319 3.68

Greenshoot - Fox Davies recently upgraded their 12 month forcast to 19p.

http://www.proactiveinvestors.co.uk/columns/fox-davies-capital/7675/views-from-the-trading-floor-wednesday-7th-decembe-7675.html Hambeldon Mining (LON:HMB) "After meeting the very charming Tim Daffern from Hambeldon Mining last week, I wanted to take a moment to look at the technical indicators as well as the fundamental side of things. We are very bullish on the Hambeldon story, and believe at these levels the stock is very cheap. In our view, the first quarter next year will be when this story will really start to take off, as Tim has set realistic targets for the company in 2012. Peter Rose would be more than happy to discuss the fundamental side of Hambledon should you have any questions. Technically the stock is looking very interesting at these levels and a break above 5p would surly spark a rally towards 8p. The stock has been in a bearish pennant formation for some time, but is now looking ready to make a move higher. 4 to 5p has been the sticking point for a while, but a bullish breakout from here looks to be on the cards. For those new to the Hambeldon Mining story, the company is a gold mining and exploration group, which is operating the Sekisovskoye gold mine close to Ust Kamenogorsk in East Kazakhstan. The Company is mining from an open pit and operating an 850,000 tonnes per annum treatment plant. Production from the open pit is rising towards a target of 30,000 ounces of gold per year. The development of the underground mine has started with production expected in 2011. A combined production from the underground and open pit mine of 100,000 ounces per year is targeted"

No, marginal at 1.05 g/t. The point is that they have cleared the pit of waste and can now access the high grades (1.25 g/t) without the additional high costs of waste removal. Also the underground mine will be in production in weeks, with an ave grade of 3.8 g/t. All of a sudden it looks high profitable

You may get your wish in 10 days or so when the interims are published