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Acquisition of a Potential 9Moz Gold Asset

Hambledon has entered into an agreement with Hydrogeology LLP to acquire historical geological information concerning the Karasuyskoye Ore Fields (KAR) for $27.5m.

These cover an area of 198km2 and are adjacent to Sekisovskoye (SEK), meaning that scale could provide through leveraging existing infrastructure.

Hambledon’s technical team has reviewed exploration drilling and testing conducted at KAR, which indicates resources of 9Moz Au (c.4.3x SEK’s JORC resources) and 16Moz Ag, which could be increased through further drilling.

Our stance is Speculative Buy with a 3p target price.

Key data
Share Price 1.875p
52 week high/low 2.625p / 1.075p
Primary exchange AIM
EPIC HMB
Shares in issue 979.72m
Market Cap £18.4m
Sector Mining