Notice from Provider of Finance
15 January 2009 - 2:15AM
UK Regulatory
TIDMCMR
Notice from Provider of Finance
Cambridge Mineral Resources plc / Ticker: CMR / Index: AIM / Sector: Mining & Exploration
Cambridge Mineral Resources plc ('CMR' or 'the Company')
Notice from Provider of Finance
Cambridge Mineral Resources plc has received notice that it breached its obligations under a gold
prepayment funding agreement (the "Agreement") when, inter alia, it failed to make a required gold
delivery on 31st December 2008.
Furthermore, a formal demand has been made on the Company for the payment of a settlement amount
which includes all outstanding and future deliveries of gold under the Agreement (being no less than
13,541 ounces of gold) together with all costs and expenses and which must be made no later than 5pm
on 6 February 2009.
CMR is in the process of seeking alternative finance.
The Company currently has approximately GBP102,000 in cash and $126,000 in gold together with a similar
amount of gold in the process of refining. The Company currently has sufficient working capital for
approximately three weeks.
A further announcement will be made in due course.
** ENDS **
For further information, visit www.cambmin.co.uk or contact:
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
Cambridge Mineral Resources Plc
Cambridge Mineral Resources (LSE:CMR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cambridge Mineral Resources (LSE:CMR)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Cambridge Mins. (London Stock Exchange): 0 recent articles
More Cambridge Mineral Resources News Articles