Member Info for scubaz

http://www.proactiveinvestors.co.uk/companies/stocktube/790/tim-daffern-at-hambledon-mining-says-its-on-the-cusp-of-growing-gold-production-790.html Add to this the acquisition 440k OZ gold and the starting of deep mining

http://www.digitallook.com/news/rns/4514583-103948/HMB-Acquisition_html with this acquisition puts us over 2.4 million OZs of gold

HMB resources stand at approx 2 million ounces gold, 3 million ounces silver.

http://www.digitallook.com/cgi-bin/dlmedia/security.cgi?csi=103948&action=news&story_id=5064293

http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=140049&sn=Detail&pid=34

Assuming there are no delays in the winter , which I cant see as they now have the new winter mechanicals to cope with extreme conditions. I can only see increased production with higher grade gold being extracted. We are bringing in nearly $2.5 million net profit a month at present. Now that we are undertaking deep drilling I am hoping for this figure to double within 6 months. The main thing I like about HMB is that it is a producing miner not some explorer looking for a jorc resource. A lot of the hardwork has been done at HMB. A target of 50,000 Oz for 2012 could be possible for next year. The other possibility could be a takeover bid as we have nearly 2.5 million Oz with the recent mine purchase. DYOR,IMHO

http://www.proactiveinvestors.co.uk/columns/fairfax-i-s/3619/fairfax-market-report-including-petropavlovsk-hambledon-mining-and-central-rand-gold--3619.html

Highlights Acquisition of two wholly owned precious metals projects, Tellur and Stepok, both situated in central Kazakhstan, some 140 km North of Astana; Combined resources of some 440,000 ounces of gold plus silver and other metals, with considerable up-side potential after further drilling; Total consideration is US$5 million, payable fifty per cent in cash and fifty per cent. in ordinary shares of the Company; Tellur is an underground mine with a resource totaling over 140,000 ounces of gold at an average grade of over 17 g/t and is expected to be in production before the end of Q2 2013; Stepok is an advanced exploration project with estimated resources of some 300,000 ounces of gold together with significant quantities of copper, lead and zinc

8 November 2011 Hambledon Mining Plc ("Hambledon" or "the Company") Underground mining commences at Sekisovskoye Hambledon Mining Plc (AIM: HMB), the Kazakhstan gold mining and development company, today announces that it has commenced underground mining at its 100% owned Sekisovskoye gold project located in eastern Kazakhstan. This was achieved one month ahead of schedule. The initial underground production levels are anticipated to be modest but are scheduled to increase steadily throughout 2012. The grade of the ore being mined is expected to average 5.5 g/t Au after dilution. The ore is being extracted initially by a modified room and post pillar method and is being undertaken by mining contractors using their own machinery. Mining will continue through 2012 using a combination of room and pillar and bulk mining methods as the architecture and character of the host rock and ore zones are further understood. Optimisation of the mining method will allow the cost of production to be minimised, lowering the Company's overall cost per ounce. Development of the main decline continues, together with infrastructure such as de-watering stations and exploration drill chambers. The engineering study for the design of the further development of the underground mine at Sekisovskoye is currently being completed by Golders Associates. The operation is based on a long term target of approximately 850,000tpa, to be reached in around 2017, equating to a target of 100,000 oz per annum.

http://www.smh.com.au/money/investing/glittering-prospects-20111112-1ncow.html

http://www.safehaven.com/article/23211/would-you-believe-a-gold-stocks-rally-is-due

http://www.goldalert.com/2011/11/rogers-forecasts-a-2400-gold-price/

http://www.marketoracle.co.uk/Article31420.html

The process plant treated 216,491 tonnes of material and produced a total of 6,026 ounces of gold and 10,887 ounces of silver. for the last 3 months. Price of gold based on $1750 Oz , costs $515 leaving $1200 profit x 6000. $7.2 million profit over the last 3 months. Now that underground mining has started producing higher grade gold I would expect atleast $3million dollars profit a month. IMHO. Havent calculated the silver

http://www.financialsense.com/financial-sense-newshour/guest-expert/2011/10/28/john-doody-phd/gold-stocks-undervalued-and-underloved states that the average cost for production for Gold at $515 an Oz, this leaves a huge profit for every Oz of over $1200

http://www.newsmax.com/StreetTalk/BlackRock-gold-stocks/2011/11/07/id/417078

The process plant treated 216,491 tonnes of material and produced a total of 6,026 ounces of gold and 10,887 ounces of silver. for the last 3 months. Price of gold based on $1750 Oz , costs $950 leaving $800 profit x 6000. $4.8million profit over the last 3 months. Now that underground mining has started producing higher grade gold I would expect atleast $2million dollars profit a month. IMHO. Havent calculated the silver

You have to deduct $950 to $1000 production costs per Oz , :)

Hambledon Mining Plc is a gold mining company producing approximately 26,000 ox gold annually at the Sekisovskoye open pit mine in East Kazakhstan. At the same time it is developing the high grade underground deposit at “Seki” from where the majority of the 2.0m oz JORC resource derives. Underground mining will commence at the end of 2011 and will ramp up to 100,000 oz by 2016. The open pit mine has sufficient resources until 2014. The company is debt free and recently completed a £9m fund raising primarily designed to drive down costs. A 25,000m drilling campaign is currently under way to validate and improve the resource category. Further enhancements to the asset base can be made in Kazakhstan through acquisition.

TGR: You continue to call junior gold exploration companies the “most compelling case” for success. As of Dec. 31, 2010, the companies on the Ubika 50 Index were worth a combined $15.3 billion (B). By Oct. 14, 2011, their combined value was down to about $14.07B. Why do you still believe in these companies? VR: The basic principles have not changed. In terms of risk and reward, the junior gold space presents the highest reward potential, along with high risk. What has happened in the junior gold space is that investors’ appetite for risk has gone down. The junior gold companies did very well after the 2008 meltdown; they had phenomenal returns in 2009 and part of 2010. In 2010, our index was up 99%. This year, realization is setting in that the economy isn’t going so well, which creates aversion to riskier assets. Junior companies and small-cap companies get hit first. Gold was singled out because fund managers who made money in junior gold companies and are losing money in other things liquidate junior gold stocks first where they may still have profits. It is ironic that most investors, including the so-called sophisticated ones, would not stick to their winners. Rather, they sell their winners and take out money wherever they can. That had an impact. Longer term, if gold prices stay higher—I mean $1,200/oz or over for the foreseeable future—interest in companies with good assets and the potential to advance toward feasibility and production will come back.