Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Peter Hambro Mining (POG)

  Print      Mail a friend       Annual reports

Monday 17 February, 2003

Peter Hambro Mining

Re Joint Venture

Peter Hambro Mining PLC
17 February 2003

17th February 2003

                            Peter Hambro Mining PLC

                OJSC Susumanzoloto and Peter Hambro Mining PLC
              agree Joint Venture over Magadan Gold Mining Assets

Peter Hambro Mining PLC today announces that it has signed heads of agreement in
relation to the establishment of a new joint venture gold mining company in the
Magadan Region of Russia. The other parties to the proposed joint venture are:

1. OJSC Susuman Mining Complex ("Susumanzoloto") which is based in the Magadan
Region and is well known in Russia as one of the biggest gold producers in the
area. Susumanzoloto has been producing gold for over 60 years and has produced
more than 1,000 tonnes of gold.  During 2002 Susumanzoloto produced 180,000
ounces of gold.

2. OJSC Gold Mining Company Shkolnoe ("Shkolnoe"), also of the Magadan Region.

It is intended that the principal purpose of the joint venture will be to take
part in an auction for the State's 38% shareholding (representing 50.7% of the
voting shares) in OJSC "Matrosov Mine".  Publicly available information
indicates that Matrosov currently produces 32,000 ounces per year in the Magadan
region and that it also owns the licence for the Natalka hard rock deposit with
Russian category B, C1 and C2 resources of 7.9 million ounces with an average
grade of 4.01 grams per tonne.

Susumanzoloto and Shkolnoe intend to contribute their respective interests in
the following companies to the joint venture:

  • 76% of Berelekh Mining Complex, which has reported production of more than
    65,000 ounces of alluvial gold per annum and has approximately 40 licences
    for alluvial production in the area.

  • 89% of Nel'kobazoloto Mining Company, which has reported production of
    close to 30,000 ounces per year.  Published resources of its Shkolnoe hard
    rock deposit in Russian categories C1 and C2 are approximately 250,000
    ounces, with considerable exploration potential.

It is intended that Peter Hambro Mining's contribution to the proposed joint
venture will, subject to the receipt of a satisfactory independent valuation of
these mining companies, comprise cash.  The amount of cash to be contributed
will be agreed between the parties and be based on this independent valuation.

Peter Hambro, Executive Chairman of Peter Hambro Mining PLC said:

"We view this strategic alliance in Magadan, one of Russia's premier gold
producing regions, as an important new step in building our gold mining business
in Russia.  Susumanzoloto is the second largest producer in the region and its
long and successful history is important to us.

The Natalka deposit is an important target and we look forward to working with
Vladimir Khristov, General Director of Susumanzoloto, and his team on this and
other acquisition targets in the area."


Peter Hambro                       Peter Hambro Mining      +44 20 7393 0102
David Simonson/Nicola Davidson     Merlin Financial         +44 20 7606 1244

Notes to Editor:

Peter Hambro Mining is a London-based mining company, whose principal asset is
97.69% of JSC Pokrovskiy Rudnik ("JSCP").  JSCP operates 2 gold deposits in the
Amur Region in Russia.  Its principal deposit is the Pokrovskiy mine, which
produced 96,000 ounces of gold in 2001 and has estimated resources of 1.6
million ounces in the pit-shell, and an additional potential 3.4 million ounces
out-of-pit.  Its other gold deposit, Pioneer, is currently at feasibility stage,
and has estimated Russian category C2 and P1 + P2 resources of 3.7 million
ounces.  JSCP also has a 51% stake in Olekma Rudnik, a titanium deposit also in
the Amur region.  Peter Hambro Mining's shares are traded on the Alternative
Investment Market of the London Stock Exchange.

                      This information is provided by RNS
            The company news service from the London Stock Exchange

a d v e r t i s e m e n t