4th Jan 2006 07:00
Peter Hambro Mining PLC04 January 2006 4 January 2006 Acquisition of shares in main Russian subsidiary Peter Hambro Mining PLC ("PHM") is pleased to announce that it has beensuccessful in winning the auction for the 0.93% of OAO Pokrovskiy Rudnik ("PR")that was previously held by the Committee of Property Management of theMagdagachi District of the Amur Region of the Russian Federation. The stake wasauctioned as part of a privatisation programme in December 2005. As a result ofthis PHM's stake in Pokrovskiy Rudnik has increased to 98.6 %. The acquisitionprice was RUR 17.2m (c.US$596,000). OAO Pokrovskiy Rudnik is the company that holds PHM's main producing andexploration assets. The primary assets of PR are the licences for thePokrovskiy, Pioneer, Malomir and Voroshilvskoye deposits as well as PHM'sinterest in the Yamal assets. Enquiries: Alya Samokhvalova, Director of External Communications +44 (0) 207 201 8900or Marianna Adams www.peterhambro.comPeter Hambro Mining David Simonson or Tom Randell +44 (0) 207 653 6620Merlin /+44 (0) 777 587 5847 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
POG.L