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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cambridge Mins. | LSE:CMR | London | Ordinary Share | GB0001826303 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.34 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Cambridge Mineral Resources plc / Ticker: CMR / Index: AIM / Sector: Mining & Exploration Cambridge Mineral Resources plc ('CMR' or 'the Company') Placing Cambridge Mineral Resources plc, the AIM listed mining exploration and production company primarily targeting precious metals in South America, has raised £135,000 before expenses through the placing of 13,500,000 new Ordinary Shares at 1p per share ('Placing Shares'). Each Placing Share will have one warrant attached with an exercise price of 2 pence with an exercise period of two years. The funds raised in the placing, which completes the Company's recent capital raising programme which commenced on 7th November, will be used for general working capital purposes and to assist in the development of its portfolio, particularly in South America where it has recently commenced production in Colombia. CMR's Managing Director Colin Andrew said, "CMR has entered a transformational period in its development with the advent gold production from our Quintana mine in Colombia. These additional funds will provide general working capital for CMR as we continue in our stated strategy of acquiring additional exploration projects in South America and bringing them to production in order to establish CMR as a low-cost producer of precious metals." The Placing Shares will represent approximately 3.8% per cent of the Company's enlarged issued share capital following the Placing, and will when issued, rank pari passu in all respects with the existing issued Ordinary Shares. The placing is conditional, inter alia, upon the new Ordinary Shares being admitted to trading on AIM for which application is being made to the London Stock Exchange, and it is expected that admission will become effective, and trading in the Placing Shares will commence, on or around 18 December 2008. In addition, in lieu of professional fees, the Company has also today issued 500,000 new Ordinary Shares for which application to trading on AIM has also been made. The total number of Ordinary Shares in issue following the placing will be 369,115,704. ** ENDS ** For further information, visit www.cambmin.co.uk or contact: Colin Andrew Cambridge Mineral Resources plc +44 (0) 20 7663 5618 Managing Director candrew@iol.ie Michael Burton Cambridge Mineral Resources plc +44 (0) 20 7663 5618 Finance Director mburton@cambmin.co.uk Gavin Burnell / Ruegg & Co Limited +44 (0) 20 7584 3663 Roxane Marffy Colin Rowbury Religare Hichens Harrison plc +44 (0) 20 7382 7771 Tom Beattie Haywood Securities (UK) Limited +44 (0) 20 7031 8018 Victoria Thomas St Brides Media & Finance Ltd +44 (0) 20 7236 1177 Notes to Editor Cambridge Mineral Resources plc is an AIM listed mining and exploration company focussed on becoming a producer of precious metals with an output equivalent to 100,000 oz gold per annum. Primarily targeting precious metals in South America, its strategy is to acquire established resources at advanced stage exploration or near term production and develop them to economically mineable reserves through further exploration. The Company has a strong portfolio of mineral projects at varying stages of commercialisation including its two key projects, the Quintana gold mine in Colombia, which commenced production in November 2008, and the Rasuhuilca silver-gold mine in Peru. The Company also has a portfolio of assets in Europe, which it is currently in the process of seeking to divest through either joint-venture or sale. Cambridge Mineral Resources Plc
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