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Hambledon remains upbeat

TIP UPDATE: Hambledon retains gold target and underground plans, despite falling share price
August 11, 2008
by LiM

Following first gold sales this May, Hambledon continues to increase production from its Sekisovskoye operation in Kazakhstan. In July, it produced 2,247 ounces of gold and 3,418 ounces of silver, compared with June's 1,102 ounces of gold and 1,608 ounces of silver.

IC TIP: Buy at 6.5p

The company is making improvements to further increase throughput and recovery over the coming months, and remains confident that it will meet its target monthly open-pit production target of 3,333 ounces of gold. By the year-end, the company also expects to have submitted all applications for approvals and placed equipment orders to mine its much larger underground resource.

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