Sale of Shares in Asian Mining Resources
Tuesday, September 11th, 2007
Cambrian Mining Plc and its wholly owned subsidiary AGD Mining Limited have together sold 12,932,820 shares of Asian Mineral Resources (â€œASNâ€) at a price of CAD$1.75 per share.
The sale is in line with Cambrianâ€™s strategy of transforming itself from an investment holding company to an operating mining house by selling non-core investments to focus on its core operating assets.
Cambrian first invested in ASN in July 2005 at CAD$0.50 when it identified an opportunity to participate in a developing nickel project. Having supported ASN through its development during the past 2 years, including participating in a secondary placing in November 2006 at CAD$0.75, the decision was reached that a strategic exit from ASN would create value for the Company by crystallising the significant unrealised profit to date.