18 June 2004 00:00
Peter Hambro makes Russian purchase SMALL CAP BRIEFING
ByLine: By GARY EVANS
Peter Hambro Mining, the London-based mining group, has signed a preliminary
deal to buy the company that holds the licence for the Ametistovoye deposit
in Kamchatka in the Russian far east for up to Dollars 25m (Pounds 14.8m).
The Ametistovoye deposit has gold reserves of about 1.7m ounces and about
5.3m ounces of silver. A feasibility study showed that the possibility of at
least a further 1m ounces of gold but additional drilling and evaluation of
the flanks of the deposit will be required to confirm any additional
resources.
The company said it was in talks with a number of banks regarding project
finance for the construction of a mine at Ametistovoye. The Aim-traded shares
rose 6p to 404 1/2p yesterday. Gary Evans
[COMPANIES UK] |
RUSSIA IN FACTS
