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Peter Hambro Mining (POG)

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Thursday 19 December, 2002

Peter Hambro Mining

Result of EGM

Peter Hambro Mining PLC
19 December 2002

19 December 2002

                            PETER HAMBRO MINING PLC

                                 RESULT OF EGM

Peter Hambro Mining Shareholders Approve Acquisition of Further Shares in JSC
Pokrovskiy Rudnik

Further to the announcement issued on 4 December 2002, Peter Hambro Mining 
("PHM") announces that, at an Extraordinary General Meeting held today, 
shareholders approved the acquisition of further shares in JSC Pokrovskiy Rudnik 
("JSCP"), increasing PHM's ownership in JSCP to 97.69%.  The ordinary resolution 
set out in the Circular dated 3 December 2002 was passed.

PHM has acquired an additional 22.69% of JSCP's issued share capital, which was
beneficially owned by Pavel Maslovsky, a director of PHM, in consideration for
the issue of 11,144,593 new ordinary shares of 1p nominal value (the 
"Consideration Shares") each in PHM.  The Consideration Shares have been allotted
to companies connected with Pavel Maslovsky and rank pari passu with the
existing issued ordinary shares.  Application has been made for these new shares
to be admitted to trading on AIM.  Dealings are expected to commence in the new
shares tomorrow.

As a result of the allotment of the Consideration Shares which was made earlier
today, Pavel Maslovsky and/or other holders of Shares in which he is interested
(the "Maslovsky Associates") now hold 23,344,524 ordinary shares in PHM
representing 48.65% of PHM's issued share capital.  As a result of this issue,
the percentage holdings in the issued share capital of PHM of Peter Hambro and/
or other holders of Shares in which he is interested (the "Hambro Associates")
has reduced from 21.82% to 16.75%.



Peter Hambro                                         +44 20 7393 0102
Peter Hambro Mining

David Simonson/Nicola Davidson                       +44 20 7606 1244
Merlin Financial

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