Central Asian Minerals and Resources PLC
LSE : CMRP

August 31, 2011 02:00 ET

Completion of GBP4.4 million Placing

                                                                                                 31 August 2011
                                                                                                   IM00B61FM981

                                   Central Asian Minerals and Resources PLC
                                          ("CAMAR" or the "Company")
                                                       
                                     Completion of GBP4.4 million Placing

The Placing

The  Directors of Central Asian Minerals and Resources PLC (PLUS: CMRP) announce that the placing of  6,734,008
units  at 65 pence per unit (a "Unit"), each Unit comprising one ordinary share of no par value in the  Company
(an  "Ordinary Share") and one warrant to subscribe for an Ordinary Share at 65p per Ordinary Share at any time
before  30  June 2014 (the "Placing"), has been completed. Dealings in the 6,734,008 new Ordinary  Shares  will
commence on the PLUS-quoted market today.

Use of Proceeds

The  net  proceeds  of  the Placing, amounting to approximately GBP4.4 million, will  be  used  to  expand  the
Company's  existing  gold  production profile in Tajikistan in accordance with the  strategy  set  out  in  the
"Operational Update" announced by the Company on 11 August 2011.

In  particular, CAMAR intends to undertake additional due diligence on the resources at Aprelevka and determine
the  extent  of  lower  grade reserves at the mine, as these had been disregarded by  early  Soviet  geological
surveys. In the near future, CAMAR also intends to commission additional geochemical and geophysical surveys of
its  licence  areas, including hyperspectral imaging, ahead of a planned diamond drilling programme.  Moreover,
the  Company  has  been granted permission to commence mining at the Aprelevka East pit and  intends  to  start
operations there as soon as practicable.

Directors' Interests

Following  completion  of the Placing, the interests of the Directors in the Company's increased  issued  share
capital of 16,705,713 Ordinary Shares are as follows:


Director                                   Number of Ordinary Shares             % of Issued Share Capital
Christine Melian                                    166,667                                 0.9
Lawrence Snee                                       116,000                                 0.7
John Leech                                          95,329                                  0.6
Oliver Vaughan                                     5,073,982                               30.4
Peter Zihlmann                                     2,166,667                               12.9
David Russell                                       230,770                                 1.4
                                                                                             
Total:                                             7,849,415                               46.9


John  Leech  is deemed to be interested in 30,004 Ordinary Shares held by Cavendish Trust Company  Limited  and
65,325 Ordinary Shares held by Cavendish Square Limited, as he is a director of both of those companies.

Oliver  Vaughan  is deemed to be interested in 4,188,087 Ordinary Shares (representing 25.1 per  cent.  of  the
Company's  issued  share  capital) held by Gulf International Minerals Ltd and in a  further  885,895  Ordinary
Shares (representing 5.3 per cent. of the Company's issued share capital) held by Evolve Capital plc, as he  is
a director of both of those companies.

Peter  Zihlmann has a direct beneficial interest in 166,667 Ordinary Shares and is deemed to have  an  indirect
interest in 2,000,000 Ordinary Shares (representing 11.9 per cent. of the Company's issued share capital)  held
by  The Timeless Precious Metal Fund SICAV P.L.C ("Timeless").  Peter Zihlmann is a shareholder and manager  of
P.  Zihlmann  Investment Management AG, which is the Investment Manager of Timeless and holds  all  the  voting
shares in Timeless. Peter Zihlmann is Chairman of Timeless.


The Directors of CAMAR are responsible for the contents of this announcement.

Enquiries:

Central Asian Minerals and Resources PLC                                                  01624 679 000
Christine Melian or John Leech

St Helens Capital Partners LLP                                                            020 7368 6959
Mark Anwyl or Duncan Vasey

ZAI Corporate Finance Ltd                                                                 020 7060 2220
Marc Cramsie

Threadneedle Communications                                                               020 7653 9855
Laurence Read



Contact Information

  • Central Asian Minerals and Resources PLC