Russian Golden Portal publishes the results of Peter Hambro Mining work in the first six months 2004. In general, the period was quite positive for the company. It managed to slow down costs growth and to enhance gold mining volume at Pokrovskiy Pit. The company announced as well that it had started Pioneer deposit exploitation, it being located in 40 km from Pokrovskiy Pit.

In the first six months the company’s profit increased by 31.8% and totalled to $23 mln. The net profit grew up by 10.3% up to $3 mln.

The volume of godl mining amounted to 74332 ounces. Totally, this year Peter Hambro intends to reach the level of 204 thou ounces.