Companies: CBM ��

Mining investment group Cambrian Mining says it wants to raise $20 million (�11 million) through a convertible bond issue.

AIM-quoted Cambrian, run by entrepreneurial Australian chief executive John Byrne, says it intends to raise the money to increase its holdings in existing investments and 'take advantage of new investment opportunities'. The company, valued at �114 million on AIM, has chunky holdings in soon-to-be-merged Western Canadian Coal, Aussie iron ore group Aztec Resources, gold and base metals concern AGD Mining, Bangladesh coal hopeful Asia Energy and other groups.

HVB Corporate is lead manager and broker Teather & Greenwood co manager to the bond issue, which will be convertible into shares at a price expected to be announced on Monday. Company sources suggest metal price falls and recent stockmarket sector weakness make a convertible the cheaper and easier to sell than straight equity.

Cambrian's shares, floated in 2003 at 30p, performed excellently, with mineral prospects outweighing any concerns about its complex web of investments, and hit 225p in early 2005. Since then, however, the price has retreated to 147p, down 6p this morning.

The company has interesting holdings, though its share price could be volatile.

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Cambrian Mining	AIM	�102.67m	108.50p	-2.75p
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Other company articles:
New funding for Coal International			23/05/2007
Profitable reshuffle at Cambrian			15/11/2006
Asia sale lifts Cambrian			13/09/2006
Floats afoot from Cambrian			08/09/2006
Cambrian in �27.5m financing			27/07/2006