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Peter Hambro Mining (POG)

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Wednesday 12 May, 2004

Peter Hambro Mining

Pricing

Peter Hambro Mining PLC
12 May 2004




THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE
UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE RUSSIAN FEDERATION OR IRELAND.


12 May 2004


                Successful Completion of the Conditional Placing


Further to the announcement made earlier today, Peter Hambro Mining PLC ("PHM")
is pleased to announce the successful completion of the conditional placing. PHM
confirms that it will issue 10,000,000 new ordinary shares at a price of 400p
per share to raise £40 million ($71 million) before expenses, subject to the
conditions outlined below. This issue will represent 13.5% of the issued share
capital as enlarged by the placing.

The placing is conditional upon shareholder approval at an Extraordinary General
Meeting to be held on or around 7 June 2004, the notice for which will shortly
be sent to Shareholders. The placing is also subject to the new shares being
admitted to trading on the Alternative Investment Market, which is expected to
take place on or around 9 June 2004. HSBC Bank plc and Canaccord Capital
(Europe) Limited acted as joint bookrunners and financial advisors to the
placing.


Enquiries:

Peter Hambro Mining plc
Peter Hambro                                          +44 20 7201 8900
Executive Chairman

Alya Samokhvalova
Director of External Communications

Merlin                                                +44 20 7653 6620
David Simonson / Maria Suleymanova


This announcement shall not constitute or form any part of any offer or
invitation to subscribe for, underwrite or otherwise acquire, or any
solicitation of any offer to purchase or subscribe for, securities including in
the United States.

This announcement does not constitute an offer of securities for sale in the
United States of America. Neither this announcement nor any copy of it may be
taken or distributed into the United States of America or distributed or
published, directly or indirectly, in the United States of America. Any failure
to comply with this restriction may constitute a violation of US securities law.
The securities referred to herein have not been and will not be registered under
the US Securities Act of 1933, as amended (the "Securities Act"), and may not be
offered or sold in the United States or to or for the benefit of US persons
unless they are registered under the Securities Act or pursuant to an available
exemption therefrom. No public offering of securities of is being made in the
United States.

HSBC and Canaccord, each of which is regulated by The Financial Services
Authority, are acting solely for the Company in relation to the Placing. Neither
HSBC nor Canaccord is acting for, or responsible to, any person other than the
Company for providing the protections afforded to customers of HSBC or
Canaccord.



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