Welcome to Cambridge Mineral Resources
Cambridge Mineral Resources Plc is a junior mining exploration and development company founded in 1992. Our main focus is the Iberian Pyrite Belt in southern Spain where we are investigating the Masa Valverde copper-zinc deposit near Huelva in conjunction with a major mining and commodity trading group. We are also evaluating a number of other mining projects in Andalucia.
The Chairman's Blog
Chairman's blog 09 July 2015
Firstly, I must apologise for the long gap since my last post; there has been much going on for the Cambridge board in recent weeks, and I did not want to provide partial or conditional information.
The company’s finances continue to improve, creditors are continually reduced, and current liabilities are now at a very low level as a result of careful management and continued financial support from board members.
The 2014 Report and Accounts are now finalised, have been audited by PKF Littlejohns, and are now filed with Companies House. These will be circulated to shareholders shortly, and it will be seen that the company’s balance sheet is in much better shape than in recent years.
I have mentioned in previous blog postings the company’s intention to relist the shares on the London stock market, and I am very pleased to say that at the most recent board meeting your directors unanimously agreed to appoint a Nominated Advisor. This is a necessary step to commence the re-flotation process. I cannot yet stipulate the date for IPO yet, but it is hoped that this can happen before the end of 2015. Shareholders will be informed as soon as possible, so that any decision to participate in the IPO can be made in good time.
The selection of Brokers to the company is also underway and an announcement will be made soon.
Operationally, the company is now in suitable shape for an IPO. Firstly, our joint venture at Masa Valverde is proceeding as planned, and indeed, is slightly ahead of schedule. There are currently several drill rigs on site with three of them working 24/7. The drilling programme results confirm CMR’s previous data and the attractiveness of the Masa Valverde resource.
Secondly CMR’s other interest in Andalucia, now back under our control following the successful efforts to prevent expiration of the concession.
Shareholders are encouraged to view all these developments with optimism.
The date for the AGM will be advised to shareholders together with the 2014 Accounts, in a few weeks. I look forward to meeting all those shareholders who are able to attend.
09 July 2015