Admission to AIM

RNS Number:7942M
Golden Prospect Precious Metals Ltd
28 November 2006



28 November 2006
                                                     AIM: GPM

                             Launch and Listing of
                    Golden Prospect Precious Metals Limited


Golden Prospect Precious Metals Limited ("GPPM" or "the Company"), a new
Guernsey registered closed-ended investment company and the first London listed
fund dedicated to investing in listed equities in the precious metals sector,
today announces its admission to trading on AIM.


Following a successful placing and transfer of investments previously owned by
Ambrian Capital plc (formerly Golden Prospect plc) to GPPM for around #9.4
million, the Company will be capitalised at approximately #12.9m. For each
Ordinary Share (Ticker: GPM), investors also received one Warrant (Ticker: GPMW)
in the Company. The placing price of each Ordinary Share and Warrant was 100
pence. GPPM has appointed Collins Stewart Limited and Ambrian Partners Limited
as Joint Brokers, with Collins Stewart as Nominated Adviser.


GPPM will focus on equity investments in the gold, silver, platinum, palladium
and diamond sectors. The Directors believe that above average returns will be
generated through the capital appreciation of a selective portfolio of
investments in these sectors. The funds will be concentrated in listed companies
that have projects in either the development or production phases.  As well as
investing in these markets, the Company can also diversify up to 20 per cent. of
its gross assets into investments in other key commodities, such as uranium.
Stocks will be selected on fundamental factors and wider economic considerations
including geopolitical risks.


The precious metals sector has experienced a trend of rising market prices since
2001 which has been largely driven by classic supply and demand economics.
Generally, there has been a marked increase in the demand for commodities,
however there have been few recent discoveries of new precious metal resources
and those that have been found will typically take many years to bring into
production. The Directors believe that the current upward price trend in the
precious metals sector could continue for a number of years making this an
opportune time to launch a precious metals fund focusing on these target
commodities.


GPPM will be managed by Ambrian Asset Management Limited, the asset management
subsidiary of independent investment bank Ambrian Capital plc. The fund benefits
from a strong management team with a proven track record of increasing
shareholder value. The board of directors includes Malcolm Burne, the Chairman
of Ambrian Capital plc, who has over 20 years' experience in the mineral
resource and gold sectors.  Other members of the board include Colin Bird, the
CEO of Jubilee Platinum plc, Kaare Foy, Chairman and CEO of Great Panther
Resources Ltd, Dr. John Bowles, Geological Consultant with Mineral Science Ltd
and Robert King, Director of Northern Trust International Fund Administration
(Guernsey) Services Ltd.


Malcolm Burne, Director of GPPM commented, "We are delighted to be launching the
first precious metals fund on AIM and are confident that with our clear
investment strategy and robust evaluation criteria, we can exploit the
opportunities that this sector offers and generate substantial returns for our
investors. Our team has detailed knowledge of the metals markets and so we are
well placed to capitalise on what we consider to be very positive market
conditions."


Ends


For further information, please contact:


Ambrian Asset Management Limited:

Robert Rasbach

[phone]



Parkgreen Communications

Cathy Malins / Annabel Leather

[phone]



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

MSCBIBDBIBDGGLR