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 28 February, 2005

Peter Hambro Mining


Peter Hambro Mining PLC
28 February 2005

28th February 2005


The Peter Hambro Mining Group ("PHM" or the "Group") announces that it has been
successful in the auction of the combined exploration and mining licence over
the Malomir gold property in the North East of the Amur Region, Far East Russia,
held in Blagoveshensk on 24th February 2005.

PHM paid RuR22m (c.US$0.79m) for the licence, which is estimated to contain
open-pittable reserves of 45.1 tonnes (1.5 million oz) of category C2 reserves
with an average grade of 2.4 g/t and 120 tonnes (3.9million oz) of resource
category P1 with an average grade of 2.2 g/t. The deposit also contains silver,
platinum and palladium.

The Group acquired the licence for two areas adjacent to Malomir in 2003. The
exploration of the area was started during 2004 with geophysical and geochemical
surveys over 20km2. Exploration works were undertaken by the Russian geological
exploration company "Urangeology" which will now continue exploration on the
whole territory of the deposit.

Malomir is located in one of the oldest and richest gold producing areas of the
Amur Region. The deposit is located in the same gold belt as PHM's other North
East assets Tokur and Voroshilovskoye, known as the Verkhneselemdginsky region
and is part of the Mongolia-Okhotsk thrust system. The deposit is located 35km
from the nearest town of Stoyba which is connected with the Baikal Amur Railway
by 85km of road.

The deposit was discovered in 1966 and has subsequently had detailed state
operated exploration. Exploration was undertaken primarily by two State agencies
Dalgeology and Amurgeology using geophysiscs, aerial geophysics, geochemistry
and detailed geological mapping (to a scale of 1:10,000). Exploration work
includes 150,000m3 of trenching on intervals of 80-640m and 52 drill holes
totalling 12,700m to a maximum depth of 350m. V.A. Buryak, the prominent Russian
geologist, in a State commissioned report, reported that Malomir is of a large
gold-platinum black shale mineralisation type. Approximately 94% of Malomir's
current reserves and resources occur in the area which has benefited from the
largest amount of work, the 'Diagonal Zone' imbrecate thrust-belt. The 'Diagonal
Zone' at present remains open in all directions.

Evaluation of the 'Diagonal Zone' at a cutoff grade of 1 g/t generates a C2
reserve of 45.1 tonnes (1.45 million oz) with an average grade of 2.4g/t (NTS
Amurgeolkom January 1994). Further preliminary work on the zone show P1
resources of 120 tonnes (3.9 million oz) at an average grade of 2.2g/t. A high
grade core to the orebody is delineated by increasing the cutoff grade to 3g/t,
generating a C1-P1 resource of 33 tonnes (1.1 million ounces) at a grade of 4.9g
/t. The reserve and resource estimates do not include the flanks of the orezone
which continue, per geochemical and geophysical data, for a further 4km as well
as further high grade mineralisation, per nearby drill results of 7-15g/t.

Bulk sampling and assay analysis have been undertaken to assess the amenability
of the deposit to traditional open pit mining and processing. Gold is contained
mainly in quartz (80-85%) and the balance in in arsenopyrites and pyrites. Bulk
sampling analysis gives a gold recovery ranging from 70-95%, depending on the
level of oxidisation of the ore and the use of gravitation-flotation circuit on
the primary non-oxidised ore.

Malomir ore also contains a number of different elements, the economics of
extraction of which are presently being analysed and whose potential credit has
not been taken into account for the above reserve and resource estimates.
Elements contained: Silver 1.00g/t; Platinum up to 10.0g/t; and Palladium up to

PHM intends to undertake a comprehensive exploration programme of the deposit
over the next 18 months with a feasibility study commencing during early 2006.
"Urangeology" is currently carrying out trenching work on the flanks of the
deposit and intends to mobilise drill rigs by June 1st 2005 to begin
confirmation and exploration drilling at Malomir. As part of the exploration
work PHM intends to commission a programme of at least 50,000m of drilling.

Peter Hambro, Chairman of Peter Hambro Mining plc, commented:
"Malomir has always been at the very top of our wish-list for the Amur Region -
particularly given its geological similarities to several well-known deposits.
For that reason we acquired exploration areas surrounding it last year, prior to
this auction.

Now that we have the whole deposit, we have completed our acquisition strategy
for the Amur North East belt. The addition of 1.45 million ounces of C2 reserves
to our Group total is beneficial, especially since the Malomir deposit is at a
relatively advanced exploration stage and relatively well served by transport

Jay Hambro                                Peter Hambro Mining PLC
                                          +44 (0) 20 7201 8900
Tom Randell / Maria Suleymanova           Merlin
                                          +44 (0) 20 7653 6620

Further details regarding the location of the assets can be found on the Group's
website at:

                      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