Lundin Mining Does NOT Have Any Exposure to Asset Backed Commercial Paper: Cash position is Solid.

After all scare with Canada's Coventry fall out and few miners caught with illiquid assets in ABCP including majors like Cameco, shareholders of Lundin mining will be relieved to know that company has a solid cash position.

Resource Investor reports: "Several Canadian miners with exposure to the asset-backed commercial paper (ABCP) market could get hit hard if banks and trusts prove unable to pay up despite the flood of liquidity and credit easing provided by central banks around the world. The latest - and one of the largest - firms to announce its exposure is Cameco Corp. [NYSE:CCJ; TSX:CCO], which said yesterday it has about C$120 million of its C$332 million “portfolio”, or nearly two fifths of the total, invested in the short-term notes."

According to conversation with Andres Haker VP and CFO this morning Lunding mining does not have any exposure to Assets Backed Commercial Paper, as of latest reported date Company has 390 million dollars invested in short term investments with majority outside of Canada and all these investments are liquid and Company has not experienced any problems with their withdrawals. I have suggested that Press Release will be very helpful in this situation and Mr Haker assured that they will look into this matter again.