AMBR Ambrian

RNS Number:7941M
Ambrian Capital PLC
28 November 2006



                              Ambrian Capital plc


         Launch of First Fund: Golden Prospect Precious Metals Limited


                    Transfer of Precious Metals Investments



Ambrian Capital plc ("Ambrian Capital"), the independent investment banking
group, is pleased to announce the launch of Golden Prospect Precious Metals
Limited ("GPPM" or the "Precious Metals Fund"), a Guernsey registered,
closed-ended investment fund dedicated to equity investments in the precious
metals sector. The fund commences trading today on the Alternative Investment
Market of the London Stock Exchange (Ticker: GPM).



GPPM, which will be managed by Ambrian Asset Management Limited is the first
dedicated precious metals fund to be listed in London and aims to exploit the
attractive investment opportunities arising from the strong fundamentals of the
precious metals sector.



In support of the Precious Metals Fund, Ambrian Capital transferred in
approximately #9.4m of its existing precious metals equity investment portfolio
in return for the equivalent investment of Ordinary Shares and Warrants in this
new investment vehicle. The portfolio transferred, which represents a
Substantial Transaction under Rule 12 of the AIM Rules, comprised the following
nine shareholdings:



Company                                    Number of Shares

Bolnisi Gold NL                                   1,000,000
Centamin Egypt Ltd                                5,000,000
Coeur D'Alene Minerals Corporation                  250,000
Great Panther Resources Ltd                       1,250,000
Jubilee Platinum PLC                              2,000,000
Lihir Gold Ltd                                      500,000
Mano River Resources Inc                         13,900,000
Resolute Mining Ltd                               1,200,000
Uruguay Mineral Exploration Inc                     600,000





Tom Gaffney, Chief Executive of Ambrian Capital, said "The launch of the
Precious Metals Fund provides a platform for the development of Ambrian
Capital's investment management business. The Precious Metals Fund will benefit
from the precious metals investment expertise that Ambrian Capital, formerly
Golden Prospect plc, has built-up over many years. In addition, GPPM will be
able to take advantage of the low tax regime in Guernsey.



"With the anticipated launch of further funds next year, Ambrian Asset
Management Limited becomes the third operating business of the Group, alongside
Ambrian Partners Limited and Ambrian Commodities Limited."



The first day of trading announcement issued on behalf of GPPM is reproduced
below.



About Ambrian Capital

Ambrian Capital, formerly Golden Prospect plc, is an independent investment bank
quoted on the Alternative Investment Market of the London Stock Exchange
(Ticker: AMBR) which has three wholly-owned subsidiaries: Ambrian Asset
Management Limited, a specialist investment management business; Ambrian
Partners Limited, a corporate finance advisor and stockbroker; and, Ambrian
Commodities Limited, an Associate Member of The London Metal Exchange and a
broker-dealer of LME traded metals and plastics. Further information about the
Group is available on Ambrian Capital's website: www.ambrian.com



For further information, please contact:


Tom Gaffney                                      Tel: +44 (0)20 7776 6400
Chief Executive
Ambrian Capital plc


Cathy Malins / Annabel Leather                   Tel: +44 (0)20 7493 3713
Parkgreen Communications







                    Golden Prospect Precious Metals Limited


                             Launch and Listing of
                    Golden Prospect Precious Metals Limited



Golden Prospect Precious Metals Limited ("GPPM" or "the Company"), a new
Guernsey registered closed-ended investment company and the first London listed
fund dedicated to investing in listed equities in the precious metals sector,
today announces its admission to trading on AIM.



Following a successful placing and transfer of investments previously owned by
Ambrian Capital plc (formerly Golden Prospect plc) to GPPM for around #9.4
million, the Company will be capitalised at approximately #12.9m. For each
Ordinary Share (Ticker: GPM), investors also received one Warrant (Ticker: GPMW)
in the Company. The placing price of each Ordinary Share and Warrant was 100
pence. GPPM has appointed Collins Stewart Limited and Ambrian Partners Limited
as Joint Brokers, with Collins Stewart as Nominated Adviser.



GPPM will focus on equity investments in the gold, silver, platinum, palladium
and diamond sectors. The Directors believe that above average returns will be
generated through the capital appreciation of a selective portfolio of
investments in these sectors. The funds will be concentrated in listed companies
that have projects in either the development or production phases.  As well as
investing in these markets, the Company can also diversify up to 20 per cent. of
its gross assets into investments in other key commodities, such as uranium.
Stocks will be selected on fundamental factors and wider economic considerations
including geopolitical risks.



The precious metals sector has experienced a trend of rising market prices since
2001 which has been largely driven by classic supply and demand economics.
Generally, there has been a marked increase in the demand for commodities,
however there have been few recent discoveries of new precious metal resources
and those that have been found will typically take many years to bring into
production. The Directors believe that the current upward price trend in the
precious metals sector could continue for a number of years making this an
opportune time to launch a precious metals fund focusing on these target
commodities.



GPPM will be managed by Ambrian Asset Management Limited, the asset management
subsidiary of independent investment bank Ambrian Capital plc. The fund benefits
from a strong management team with a proven track record of increasing
shareholder value. The board of directors includes Malcolm Burne, the Chairman
of Ambrian Capital plc, who has over 20 years' experience in the mineral
resource and gold sectors.  Other members of the board include Colin Bird, the
CEO of Jubilee Platinum plc, Kaare Foy, Chairman and CEO of Great Panther
Resources Ltd, Dr. John Bowles, Geological Consultant with Mineral Science Ltd
and Robert King, Director of Northern Trust International Fund Administration
(Guernsey) Services Ltd.



Malcolm Burne, Director of GPPM commented, "We are delighted to be launching the
first precious metals fund on AIM and are confident that with our clear
investment strategy and robust evaluation criteria, we can exploit the
opportunities that this sector offers and generate substantial returns for our
investors. Our team has detailed knowledge of the metals markets and so we are
well placed to capitalise on what we consider to be very positive market
conditions."



Ends





For further information, please contact:

Ambrian Asset Management Limited:
Robert Rasbach
+44 20 7776 6450


Parkgreen Communications
Cathy Malins / Annabel Leather
+44 20 7493 3713




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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