News

November 20, 2008

First Gold Production From Cambridge Mineral Resources Puts The Company’s Past, Present And Future In A Different Light

By Alastair Ford

“From now on”, says Colin Andrew, managing director of Cambridge Mineral Resources, “all our press releases will be issued using the past tense”. By which roundabout fashion he means that Cambridge will issue far fewer promises, and instead report much more on achievements already delivered. That new outlook comes in the context of what Colin calls “the long litany of failures” that Cambridge now has behind it. No need to labour the point, but there have been one or two projects that company has failed to deliver on over the years. But, true to Colin’s word, this week Cambridge announced that it had poured its first gold from the Quintana mine in Colombia.

Colin’s been around in this business for many years, and knows what makes who tick, and how markets respond in different circumstances. So quite rightly, as he attempts to consolidate the image of the new look Cambridge in a round of press meetings to talk up the Quintana production, he says that “the key thing for any junior is to get to production”. Too true, and we might add that a small amount of production may be all that stands between survival and failure in these markets. Certainly...