56th Minesite Forum - 9th December 2008

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56th Minesite Mining Forum

Tuesday 9th December 2008

Bishopsgate and Chancery Rooms
Andaz Hotel, Liverpool Street EC1
(Formerly Great Eastern Hotel)

Registration - 9am
Presentations beginning at 9.30am

It may come as a surprise to those who have wrapped themselves in a pall of misery under current market conditions to read that more than half the companies who presented at our 55th Minesite Mining Forum last week have seen their prices rise subsequently. Six companies presented, as usual, to a full house with standing room only at the back. One of these companies, Hampton Mining, has not even listed yet which says something for the gutsy nature of Bill Etheridge who says he will choose his moment to bring his well financed assets in Chile and Peru to the market.

That leaves five companies of which Scotgold, which is listed in Australia, but has its assets in Scotland, virtually unmoved on the week. Top of the pops was Rambler Metals & Mining, listed on AIM and the TSX, with an advance of 14.3 per cent to 12p. This company has announced excellent drilling results from its Ming mine project which should be in production in mid 2010. Next up was Kiwara, where Colin Bird gave a very upbeat presentation about its advanced Kalumbila project in Zambia and the recent drilling results at the Kawako nickel project. Its shares advanced 9.8 per cent to 22.50p.

Oslo listed London Mining could hardly fail in these circumstances as it is just paying back £2 per share to its shareholders after selling its Brazilian iron ore assets in Brazil to ArcelorMittal for US$810 million. It still has plenty more iron ore assets elsewhere in the world and its shares rose 4.4 per cent off to NOK 28.50, but this still leaves its shares at a discount to cash. The conclusion has to be that investors in London already appreciate that bottom fishing pays off after such a swift fall in markets and they are ready to chance their arms with companies in a position to make positive presentations. Bearing this in mind investors should already be looking forward to our Christmas mining forum on 9 December as we have more treats in store.

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