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Cambrian Oil & Gas - Reverses into Silvermines

February 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • COIL
  • Price:
  • 10p
Cambrian Oil & Gas (COIL;10p) has joined  AIM this month following a reverse takeover of Silvermines Media (SLV), an AIM-listed cash shell. The name change will become effective on 1 March following an EGM on 28 February to approve the transaction and meanwhile the shares will continue to trade as Silvermines. Following approval at the EGM, COIL will then comprise the oil and gas interests of Zhibek Resources, part owned by Cambrian Mining (CBM; 220p), which has also subscribed for new shares in the  issue and will have a 27% shareholding. Market cap. at the 5p placing price, which raises ?1.95m for the company is ?5.4m.Cambrian Mining shares rose four-fold last year after it successfully divested two other in ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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