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Ambrian Capital (AMBR.L)

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Ambrian Capital (AMBR.L)

Once seen as a proxy for Juniors

======================

 

It may not be so true anymore- they have spun off about 50% of Golden Prospect Metals (GPM.L),

with their holdings of juniors...

 

However, AMBR.L is looking cheap ... Weekly update

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SHAREHOLDERS - when they had xx.xx million shares O/S

 

On 2 October 2007 Global Resources Investments Limited have increased their

interest to 15,359,908 shares representing 13.83% of the total voting rights

from a previous amount of 13,886,101 shares representing 12.82%.

 

on the 29th November, Artemis Investment Management Limited and certain of its

investment clients now have a direct interest in 7,241,445 ordinary shares

in the Company representing 6.5%

 

Appleby Trust (Jersey) Limited as Trustee of the Ambrian Capital Employee Benefit

Trust informing the Company that following a transactions on the

10th & 12th November 2007, its direct interest in the ordinary 10p shares

in the Company has risen above 9%.

It now has a direct interest in 11,092,043 ordinary shares in the

Company representing 9.99%

 

 

Here's a dated comment from the Advfn board:

 

Ambrian* shares are up today on news that the employee benefit trust has been buying more stock. That should be a clear signal. But they still trade at just 45.75p and I know some of you are panicking. An email yesterday warned me that " a profits warning MUST be on the way." The punter noted that I must be the only man in London who cannot see this coming. Another reader tells me that Ambrian has been a heavy seller of shares in Uruguay Minerals over the past few weeks. Since - this reader argues - Uruguay shares are dirt cheap, these means Ambrian is desperate for cash.

 

Ambrian CEO Tom Gaffney was on holiday until today so I could not speak to him. My updates should be based on fact not rumour so I waited. I spoke to Tom today. Firstly, Ambrian sold its last shares in Uruguay almost a year ago. If it is selling lots of shares now it is on behalf of a client. That, I'd suggest is rather good news for its broking arm. So that story is cobblers.

 

Secondly Ambrian had cash of £20 million at the half year. It has since sold £4 million of Jubilee Platinum shares - it was heavily overweight in the stock - and it is trading profitably. So by my estimates it is not exactly down to its last penny.

 

(note is from 12.dec.2007): http://www.advfn.com/cmn/fbb/thread.php3?id=13140513

 

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CHANGES - Transfers to GPM.L

 

Principal Investment Portfolio as at 30 June 2006

 

Company Market Value £m

1. Jubilee Platinum 6.81 ( 2 million shares transferred to GPM approx £1.2M???)

2. Angelsey Mining 2.24

3. Nido Petroleum 2.06

4. Samson Oil & Gas 1.97

5. Centamin Egypt 1.74(transferred to GPM)

6. Exall Resources 1.67 (name changed to Golden Eagle mines, post merger with Southern Star)

7. Nautical Petroleum 1.42

8. Horizon Oil 1.41

9. Urugway Minerals 1.24(transferred to GPM)

10. Mano River Resources 1.19(transferred to GPM)

 

Total Top 10 Holdings 21.75

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The Investment Portfolio was valued at #32.11 million at 24 September 2007 of

which Jubilee Platinum represented #7.02 million.

 

Listed Investments

 

At 30 June 2007 the market value of our portfolio of listed investments was

#32.41 million. Our top ten holdings had a total market value of #29.1 million

and were as follows:

 

1. Jubilee Platinum #9.3 million

2. Golden Prospect Precious Metals #7.4 million

3. Nido Petroleum #2.8 million

4. Kairiki Energy #1.9 million (name changed from Yilgarn gold)

5. Minerva Resources * #1.6 million

6. Anglesey Mining #1.5 million

7. Horizon Oil #1.4 million

8. Samson Oil & Gas #1.3 million

9. Nautical Petroleum #1.0 million

10. Commodity Watch #0.9 million

_____________

 

Total #29.1 million

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* Listed 10 July 2007

 

Ambrian Capital's 8.8% holding in Jubilee Platinum (AIM: JLP) remains a core

investment as the company has valuable resource positions in South Africa and

Madagascar.

 

Our 49.96% interest in Golden Prospect Precious Metals (AIM: GPM) provides

leveraged exposure to the precious metals sector.

 

In July 2007, we concluded the successful capitalisation of our exploration

assets by the sale of our exploration subsidiary, Golden Prospect Mining Company

Limited, in exchange for 39.82% interest in the share capital of Minerva

Resources plc, an AIM listed exploration company.

 

Minerva has an exciting management team and it is anticipated that with

Ambrian's continued support they will unlock value from our former exploration

assets.

 

Also of note, during the first half of 2007, Commodity Watch plc (previously

called Minesite) was listed on Plus Markets. Ambrian Capital has a 25% holding

in the company.

 

Unlisted Investments

 

At 30 June 2007 the book value of Ambrian Capital's unlisted investments was

#1.92 million. The reduction from #4.83 million at 31 December 2006 primarily

was attributable to the sale of the exploration assets in return for listed

shares of Minerva and the listing of Commodity Watch. The unlisted investment

portfolio includes five stocks and a holding of 'A' and 'B' shares in the London

Metal Exchange.

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