Key Facts
  • A leading Russian focused gold producer with more than 14 years experience of operating in the Amur region of Russia.
  • One of the first mining companies with 100% Russian assets to obtain admission of its shares to trading on London’s AIM.
  • One of the largest gold producers in the Amur Region and in Russia.
  • Extensive portfolio of assets including 2 principal operating mines in the Amur Region as well as interests in various joint ventures.
  • One of the lowest cost gold producers in Russia (c.$143/oz in 2007)
  • Target to become a million oz per annum producer by 2011.

 

Financial Highlights

  Year to 31 December 2007, US$'000 Year to 31 December 2007, US$'000 % CHANGE
Group revenue 226,397 157,807 43%
Operating Profit* 81,435 50,915 60%
Underlying EBITDA 84,217 62,829 34%
Underlying EBIT 67,514 50,742 33%
Profit for the year attributable to equity holders of PHM 38,667 31,986 21%
NET operating cash flows 62,933 47,607 32%
Earnings per ordinary share (US$) 0.476 0.398 20%
       
Net Debt (193,961) (79,469) 144%
Equity attributable to PHM shareholders 336,906 298,239 13%

*Operating profit as stated before fair value change in derivatives and share of joint ventures operations

 

Main Assets

  1. Pokrovskiy/Pioneer
  2. Amur North-East Belt (Tokur, Voroshilovskoye, Malomir Deposits)
  3. Yamalzoloto (Novogodnee Monto and Petropavlosk Deposits, Toupugol-Khanmeishorskiy area)
  4. Omchak Joint Venture
  5. Rudnoye Joint Venture
  6. In-House Services

1. OJSC Pokrovskiy Rudnik (98.6% owned by the Group)/ Pioneer (100% owned by OJSC Pokrovskiy Rudnik)

  • Pokrovskiy Licence issued on 16 May 1994 by the State Geology Committee of the Russian Federation and was re-issued to JSCP Pokrovskiy Rudnik in 1997.  The licence runs until 1 June 2014 and may thereafter be extended with the consent of the licensing authority.
  • Pioneer Licence issued on 15 Jan 2001 by the Natural Resources Committee of the Amur region to OJSC Pokrovskiy Rudnik and valid until 31 Dec 2013 and may thereafter be extended with the consent of the licensing authority.
  • The Pokrovskiy  mine produced c.121,200 oz in 2007. 
  • 1 m oz of gold has been produced at Pokrovskiy since commissioning in 1999. 
  • US$193/oz total cash costs at Pokrovskiy - one of the lowest sosts of production in the global gold mining industry.
  • Construction of Pioneer's first production line completed on time and on budget. Construction of the all year round cycle at Pionner is on schedule.

2. Amur North-East Belt (Tokur 100% indirectly owned by Peter Hambro Mining Plc, Voroshilovskoye and Malomir - 100% owned by JSCP Pokrovskiy Rudnik)

  • Tokur licence issued on 22 November 2002 by the Amur Region Department of Natural Resources of the Russian Federation and valid until 31 December 2013.
  • The licence for the Voroshilovskoye deposit was acquired in 2003. It includes the Maiskaya and Yubileinaya zones.
  • The Group acquired the licence for the Malomir deposit in February 2005 in an open auction.
  • The Albyn licence area was acquired in 2005 and exploration started in 2006.

3. OJSC YamalZoloto (90% owned by Peter Hambro Mining Plc)

  • The licences for the area were acquired in April 2004.
  • Nine prospective mineralisation zones.
  • Two of the most explored deposits within the licence area: Novogodnee Monto and Petropavlovskoye.

4. Omchak Joint Venture (50 % owned by Peter Hambro Mining Plc)

  • In 2003, the Company launched, together with the Russian  companies  Susumanzoloto and Shkolnoye, Omchak Joint Venture, which acquired interests in the Shkolnoye mine and Berelekh mine in the Magadan Region. 
  • In 2005 Omchak acquired the Uduma deposit in the Republic of Sakha (Yakutia).   Omchak also won the auctions for three gold deposits in the Zabaikal Area (Chita region). 
  • Also in 2005 Omchak also acquired 100% of OOO Noviye Tekhnologii and 50% of OOO Zeyazoloto.  The operations are alluvial and located in the Amur region near to the Pokrovskiy mine. Necessary preparation works were carried out in the first half of 2007 and gold production commenced in June.
  • The total attributable gold production (50%) for Omchak was 34,500 oz in 2007.

5. Rudnoye Joint Venture (50% owned by Peter Hambro Mining Plc)

  • Rudnoye Joint Venture was established in 2003 with the second largest gold producer in the Amur Region (OAO Priisk Solovyevskiy) as a 50/50 partnership in order to develop hard rock gold assets belonging to OAO Priisk Solovyevskiy using the Group’s expertise. Odolgo is the primary asset of the Rudnoye Joint Venture and is located in the north-west of the Amur Region.
  • In 2007, total attributable gold production from Rudnoye Joint Venture was 9,200 oz.

6. In-House Services

  • In 2006 the Group acquired c.98% of OAO Irgiredmet, one of the best known laboratory research and scientific companies in Russia.  
  • The first of the Group’s laboratories was constructed in 1999 at Pokrovskiy Rudnik. Since then a central laboratory has been built in Blagoveschensk and laboratories have been constructed at Tokur and in the Yamal Region.
  • Exploration company NPGF Regis was established in 1994 and was acquired by the Group in 2002.
  • Kapstroi construction company was set up in 2005 and employs c.1,100 people including a highly qualified team of technicians and engineers.  
  • MC PHM Engineering grew from a small group of experienced engineers who were originally involved in developing the Group's projects on a contract basis. 
  • The Group employed 299 geologists in 2007.