By Alex MacDonald
LONDON--U.K.-based brokerage house Peel Hunt said Monday it has
expanded into the mining sector with a dedicated brokering
team.
The launch of the Mining sector team expands Peel Hunt's
presence in the natural resources area. Peel Hunt, which focuses
exclusively on providing brokering services related to U.K. mid-
and small-tier companies, has a dedicated Oil and Gas team that it
set up in October 2011.
The mining brokering team will be led by Matthew Armitt and
supported by a research team. The mining research arm will be led
by Maurice Mason and Michael Stoner. Mr. Mason previously worked
for Anglo American PLC (AAL.LN), KPMG and AME Mineral Economics.
while Mr. Stoner joins Peel Hunt from Edison and previously at
brokerage firm Evolution Securities as an analyst across several
commodities.
The company initiated coverage of Centamin PLC (CELTF), Shanta
Gold Ltd. (SHG.LN), Amara Mining PLC (AMA.LN) and Mwana Africa PLC
(MWA.LN) and published a gold-sector report with the view that the
gold bull run isn't over yet.
Simon Hayes, chief executive of Peel Hunt, said "the creation of
a mining sector team is a logical step for Peel Hunt and bolsters
our growing reputation in the natural resources space. The
experience of the team we have appointed and our top three trading
position in (about) 50% of all mining stocks, promises to deliver a
strong level of insight to clients".
Mr. Armitt said "there are a lot of undervalued companies in the
mining sector that are growing increasingly frustrated in the
current economic environment. Our team will provide such companies
with an alternative. The Mwana and Serabi Gold appointments are
great wins for Peel Hunt and reflect the calibre of the client
portfolio we intend to build in this sector."
Write to Alex MacDonald at alex.macdonald@dowjones.com
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