Business overview and strategy
Consolidated General Minerals plc (formerly China Goldmines plc) sold its interest in Westralian Resources Pty Ltd in September 2009. The Company has no further interest in mining operations in China or elsewhere and is considered an investing company under the AIM Rules for Companies.
The Company’s proposed investing policy, approved at the AGM on the 16th December 2010, is to identify and acquire holdings in businesses and ventures active in natural resources with a particular focus on the minerals (including industrial minerals) and metals sectors.
The Company intends to be an active investor in its ventures that will include but are not limited to:
- Funding of brownfield developments in conjunction with expanding and/or rehabilitating existing operations;
- Purchasing significant interests in existing businesses;
- Participating in the recapitalisation of existing operations; and
- Funding of late stage greenfield developments.
With a strong emphasis on downside protection, the strategy of the Company will look to focus on investments:
- That demonstrate an ability to generate near term or immediate cash flows;
- That can demonstrate resilience throughout economic cycles;
- In commodities benefiting from industry consolidation;
- In businesses which can benefit from the Company's additional value through commodity trading experience, financing, industry and technical knowledge; and
- That are not grassroot exploration plays.