Need help to identify marks on bracelet

[tharttoys]

I bought this bracelet and can't identify the following marks. It say WELSH on the bottom and an imprint of what looks like a Lama. The letters CM and above the Welsh name is letters I can't make out. And to the right another imprint which is hard to make out. I know this is not much to go on. I'm hoping someone can help. Thanks...Tom