RPT-UPDATE 1-Cambrian Mining cuts production to save cash
(Repeats to wider audience with no changes to text)
* Reviews Australian, West Virginia operations
* Suspends mining at Western Canadian Coal unit
* Mining at AGD unit becomes fully owner operated
* Shares down 10 pct (Adds details)
Dec 1 (Reuters) - Cambrian Mining Plc (HGV.L) said on Monday it was cutting production to preserve cash and maintain its operating flexibility, sending its shares down 10 percent.
The AIM-listed coal, gold and antimony miner said it was undertaking a re-organisation of its gold and antimony operations at Costerfield, Australia in view of recent weakness in the world antimony market.
"Running our operations at a sustainable level and maximising cash generation is a priority for Cambrian," said Mark Burridge, CEO of Cambrian.
Following the review, Cambrian terminated the services of its contract miner at its AGD Mining unit in Australia with immediate effect and thereby became fully owner operated. Continued...




