Cambrian Mining Plc
Wednesday, October 17th, 2007
The Company would like to take the opportunity to update investors on the recent progress that has been made regarding Cambrianâ€™s corporate strategy.
A strategic review is being conducted in the context of Cambrianâ€™s stated strategy of transforming itself from an investment holding company into an operating mining group. This objective is driven by the Companyâ€™s desire to remove inherent value traps that exist and to create a platform for further shareholder value creation.
This strategy also builds on Cambrianâ€™s track record of identifying undervalued resource opportunities and supporting the development of these into producing assets. In total, Cambrian has supported the development of seven mining operations through associated/subsidiary companies and has made significant profits through the divestment of assets.
The strategic review includes examining the alternatives for restructuring and consolidation of the Groupâ€™s constituent parts while divesting of others. On the consolidation front, Cambrian is looking at partial or complete combinations, while on the divestment side alternatives include divesting for cash, divesting for shares in another entity or distributing underlying shares to Cambrian shareholders.
Cambrian has recently embarked on a planned and structured initiative to improve communications with both existing shareholders and potential new investors. While still in the preliminary stages of this programme, significant progress has been made in order to ensure that going forward shareholders and potential investors are both better informed and more aware of developments at the Company.
Notice of Preliminary Results
Cambrian Mining expects to release its preliminary results (for the 12 months ended 30 June 2007) in mid December 2007.
Mark Burridge, Chief Executive of Cambrian Mining, commented:
â€œSince becoming Chief Executive, three months ago, I have visited all of the key operations within the Group and I am pleased to inform you that we are well down the road in analysing and implementing some of the key initiatives that will need to be undertaken to progress our strategic development. We are also making progress in a number of related areas, such as working to improve operating performance and improving management processes.
â€œIn order to assist us in advancing this strategy, relevant advisers have been appointed and a number of the important work streams are being progressed. It is important that we complete this strategic review soon and take action in time to position ourselves to take advantage of the positive outlook for commodity prices, in particular coal, as predicted by many mining analysts.
â€œWe have therefore set ourselves the goal of completing the strategic review and launching a number of specific and meaningful initiatives by the end of the year. I look forward to having the opportunity to update the market fully on our progress at our preliminary results in December.â€