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Angel Mining Share Price - ANGM

Share Name Share Symbol Market Type Share ISIN Share Description
Angel Mining LSE:ANGM London Ordinary Share GB0009348862 ORD 1P
  Price Change Price Change % Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00 +0.00% 0.54 0.00 0.00 - - - 0 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m) RN NRN
Mining 0.0 -3.5 -0.5 - 5.16

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DateSubject
04/11/2014
12:38
the stigologist: this week the ANGM guru is mostly ramping RLH who have admitted there is a placing coming 1. Company admit they have insufficient funds 2. Company attempt to ramp up share price with Broker roadshow 3. Liquid Weaselaire active 4. Shill journalists writing 'positive' articles
24/10/2012
17:03
gb234: Some good points.I agree that Cyrus will probably get 75% ownership of BAM but they won't want to own and run the mine,far better let angm do that.They aren't even writing off all their $30m debt for that 75% though and NH didn't tell us how much debt would be left.So Cyrus aren't going to finance all of BAM just their share of it.So say the cost of developing BAM is $80m then Cyrus put in $60m and ANGM put in $20m.ANGM then have to raise $20m and pay off whatever debt is left to Cyrus out of the present $30m,say $15m.ANGM end up paying over most of Nalunaqs revenue to Cyrus and the mine life is limited.(But I do expect them to find more ore in the Nalunaq mountain).ANGMs only choice will be to raise cash via placings.To get placings ANGM needs a higher share price so consolidation is the easiest route,followed by issuing shares for cash to pay there way at shareholders expense.100:1 consolidation and a share price of 50p falling as ANGM does drawdowns via Socius/YAGlobal/ANOther to pay off their portion of BAM development costs and Cyrus remaining debt.ANGM have already been down this Socius/Seda drawdown route before,it's a death spiral for share holders.
16/1/2012
14:28
chesil356: 16th January 2012 Analyst: Dr Michael Green, Independent Analyst Email: doc@docinvest.co.uk Tel: 07855 734970 Angel Mining* - Record gold pour gives further confidence. Strong Buy at 2.73p with a 5.8p target price Key Data EPIC ANGM Share Price 2.73p Spread 2.70p - 2.75p Total no of Shares 903.652,850 million Market Cap £24.6 million 12 Month Range 0.83p - 6.00p Market AIM Website www.angelmining.com Sector Mining Contact Nicholas Hall 07931 709 503 Angel Mining, the Greenland-focused gold miner, has made its largest single gold pour to date at the Nalunaq mine, totalling 517.8 ounces of gold dore. Without doubt this represents a big milestone for Angel and really shows that production is continuing to rise towards the target of between 1,500 and 2,000 ounces per month which the board expect to be achieved early on this year. At the time, Nicholas Hall, CEO, comment that "I am delighted that the team have started 2012 with a record gold pour. This is the latest step in our steady increase in production at Nalunaq. In December 2011, Nalunaq reached the important milestone of becoming cash generative. We look forward to the cash generation continuing to improve in line with production." Nalunaq was conceived with a rather short mine life and the economics look to have been dramatically changed by this discovery of additional high grade ore last summer. Looking ahead, Nalunaq could be pumping out cash at a rate of $1.7 million a month after costs from gold sales, which equates to $20 million in a full twelve months. The company's second mine is the Black Angel zinc and lead mine, where work on site seems to be going well and it is possible that this mine could come into production in 2013. There have been several false dawns here, but all the delays seem to have allowed a really cost-effective operation to be designed without all the luxury items that were conceived in the past. In fact, the costs of bringing the Black Angel back to life have been so pared down that it looks as though it could be funded to a large extent by the cash flow from Nalunaq. Looking ahead it seems that the management team learnt a lot at Nalunaq concerning logistics as well as the practicalities of operating in Greenland. The board is seeking to make the best use of such invaluable experience, the current buoyant gold price and the support of its financial backer Cyrus in order to maximise cash generation and develop a successful operation at the Black Angel zinc/lead mine that the team are bringing back to life. There is little doubt that Nalunaq is now the key to unlocking value at Angel. In the early days this project was seen to be an interesting small gold project that would provide some useful cash flow and give the team the experience of developing a mine in Greenland before beginning work on the more complex Black Angel. Reading through the RNS announcements over the years its seems clear that the management has not had much luck; but that all seems to have changed as the Nalunaq has been transformed by the high gold price and the discovery of a substantial amount of additional high grade material. The Nalunaq gold mine was acquired from Crew Gold Corporation in 2009 for $1.5 million. Crew had poured some $100 million into the project and had operated the mine for less than four years before closing it down because they needed a cut-off grade of 20g/t to make money and were only hitting 14.5g/t. Ahead of the acquisition, the board ensured that they could gain approval to operate a mill within the underground mine to save sending all the material to Canada for processing which had made Crew's operation uneconomic. The Black Angel is an old high grade zinc and lead mine that is perched 600 metres up a rock face on the edge of a fjord that needs to be reached by a 1.7 kilometre cable car. If it wasn't such high grade it would not be worth the effort. The mine was operated by Cominco for seventeen years until it was closed in 1990. The company acquired the mine in 2003 and went onto establish a JORC-compliant resource which is sufficient to justify the re-opening of the mine; as well as exploring satellite deposits which nicely bulked up the project and gave it a much longer life. By 2008, the team had gained the mining licence and had produced a compelling; Bankable Feasibility Study. Nedbank were in place to fund the capital expenditure but this was subsequently withdrawn as the project became another victim of the credit crunch. Lack of available capital in the system and depressed metal price meant that all plans were put on hold. These days Angel is under a different management team that has taken a completely fresh look at the Black Angel and set about designing an operation where it would have a chance of raising the necessary capital expenditure. The previous mine and plant design was a real Rolls Royce operation that came in at $145 million. The new team has painstakingly looked at every item and has been able to make substantially savings and believe that they can have Black Angel up and running for $80 million, with pay back coming from mining the high grade pillars in the mine in the early years. Due to successive delays and the budget overruns in beginning gold production at Nalunaq, investors might be wary of such plans. However, the management did learn a lot at Nalunaq and real progress was made there when highly experienced international mining, mineral processing and geologists were brought in. The board is in the midst of beginning that process at Black Angel and with the share price so low they have some highly attractive share options available to entice in the right sort of professionals. The board needs to get this right as Angel will not get another opportunity. Shares in Angel have recently begun to attract investor attention, which is well overdue. We rate the stock as a speculative buy with a 5.8p price target. Forecast Table Year to 28th February Sales (£ million) Pre-tax Profit (£ million) Earnings Per Share (cents) Price Earnings Ratio Dividend (p) Yield (%) 2009A 0 (2.675) (1.85) - 0 0.0 2010A 0 (4.713) (1.41) - 0 0.00 2011A 0 (7.773) (2.11) - 0 0.00 2012E 8.4 1.7 0.17 24.6 0 0.00 Source: Growth Equities & Company Research *Angel Mining is a corporate client of Bishopsgate Communications which is owned by Rivington Street Holdings (RSH), the ultimate owner of GE&CR. Funds managed by another RSH subsidiary own shares in Angel Mining.   This research note cannot be regarded as impartial as GE&CR has been commissioned to produce it by Angel Mining. It should be regarded as a marketing communication. The information in this document has been obtained from sources believed to be reliable, but cannot be guaranteed. Growth Equities & Company Research is owned by T1ps.com Limited which is commissioned to produce research material under the GE&CR label. However the estimates and content of the reports are, in all cases those of T1ps.com Limited and not of the companies concerned. This research report is for general guidance only and T1ps.com Limited cannot assume legal liability for any errors or omissions it might contain. The value of investments can go down as well as up and you may not get back all of the money you invested; You should also be aware that the past is not necessarily a guide to the future performance. Finally, some of the shares that are written about are smaller company shares and often the market in these shares is not particularly liquid which may result in significant trading spreads and sometimes may lead to difficulties in opening and/or closing positions. Before investing, readers should seek professional advice from a Financial Services Authorised stockbroker or financial adviser. T1ps.com Limited is authorised and regulated by the Financial Services Authority (FSA Registration no. 192801) and can be contacted at 3rd Floor, 3 London Wall Buildings, London, EC2M 5SY email doc@docinvest.co.uk - tel 07855 734970   If you do not wish to receive such emails please use the following link to unsubscribe.   UK-Analyst.com is owned by t1ps.com Ltd which is authorised and regulated by the Financial Services Authority The hot share tips given here are of necessity, general. They cannot relate to the individual circumstances of investors. Anyone considering following the share tips contained here should seek independent advice from a Financial Services Authority authorised Stockbroker or Financial Adviser. So, while we would not wish to reduce our liability under the FSA regulatory regime, we cannot otherwise be held liable if individuals suffer losses through following share tips contained on this site or emailed out as free share tips. The value of investments can go down as well as up. The past is not necessarily a guide to future performance. Investing in shares can lose you part or all of your capital although the potential returns are theoretically unlimited. The difference between the buy share price and the sell share price for smaller company shares (penny shares) can be significant. Profits from dealing in shares may be liable to tax - the level of tax and bases of relief from tax are subject to change. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency. Financial spread betting is a high risk investment, losses from which are potentially unlimited. Some of the shares recommended on this site will be smaller company shares. By their nature such investments can be relatively illiquid and thus hard to trade. And that makes such investments more of a high risk than larger company shares (or 'small caps'/'penny shares'). UK-Analyst.com defines a smaller company share as any stock traded on AIM or PLUS or which has a market capitalisation of less than GBP300 million
14/12/2011
21:46
mrdanny: Here's what i think! In Feb'11, the M/Cap was £49.6m (945185625 * 0.0525) - with 'B' share included. Here on 14 Dec'11, the M/Cap is now £24.4m (1480928625 * 0.0165) - with 'B' share included. This means the Share Price should rise to 3.4p for the M/Cap to be the same as Feb'11. Furthermore, if you consider the Share Price in Jan'11 was touching 7p, then an equivalent market cap today would mean the Share Price should rise to 4.5p in todays market. Also consider that the market cap last year was for when the company was nowhere near as advanced as it is right now, so 4.5p should be reached easily. For a company that will be making a yearly profit of £17m from gold alone, then this would equate to a PE ratio of 4 at a share price of 4.5p....this is almost ludicrously too low!! TW's recent research note with a BUY signal to a target price of 7.8p is based upon a PE ratio of 7, which is still arguably conservative for a gold miner. PE ratios of 15 or more are not uncommon for gold miners (anybody fancy 15p?!). And I'd like to remind remind everyone..............the share price includes no value whatsoever for the billion dollar zinc asset. A Share Price of 35p in 2013 is most certainly achievable. 2012 will be a very very exciting year, now that the concerns over funding have been removed and gold production is ramped up to target. Onwards and upwards here folks. When the BAM funding deal is arranged early next year, then i expect a double digit share price to be practically a certainty. Its a Strong Buy for me.
14/12/2011
21:38
mrdanny: In Feb'11, the M/Cap was £49.6m (945185625 * 0.0525) - with 'B' share included. Here on 14 Dec'11, the M/Cap is now £24.4m (1480928625 * 0.0165) - with 'B' share included. This means the Share Price should rise to 3.4p for the M/Cap to be the same as Feb'11. Furthermore, if you consider the Share Price in Jan'11 was touching 7p, then an equivalent market cap today would mean the Share Price should rise to 4.5p in todays market. Also consider that the market cap last year was for when the company was nowhere near as advanced as it is right now, so 4.5p should be reached easily. For a company that will be making a yearly profit of £17m from gold alone, then this would equate to a PE ratio of 4 at a share price of 4.5p....this is almost ludicrously too low!! TW's recent research note with a BUY signal to a target price of 7.8p is based upon a PE ratio of 7, which is still arguably conservative for a gold miner. PE ratios of 15 or more are not uncommon for gold miners (anybody fancy 15p?!). And I'd like to remind remind everyone..............the share price includes no value whatsoever for the billion dollar zinc asset. A Share Price of 35p in 2013 is most certainly achievable. 2012 will be a very very exciting year, now that the concerns over funding have been removed and gold production is ramped up to target. Onwards and upwards here folks. When the BAM funding deal is arranged early next year, then i expect a double digit share price to be practically a certainty.
28/10/2012
20:54
pwhite73: 99Jeremiah Talk that the company can just consolidate 100-1 or 25-1 for the sole purpose of diluting the shares back to today's price is utter garbage and perhaps what the gb in gb234 stands for. The LSE would never allow it and who would invest on those terms given this company's history. There are only 928 million shares in issue. I use the term only because many of these AIM microcaps have share issues in the billions. There is plenty of room for ANGM to be issuing more shares and a lot more. How they intend to do this shareholders do not yet know. It is interesting to note that on the same day as the last announcement they issued 25m shares to Yorkville at a price of 1p although the share price was below the ORD value of 1p. You are mistaken about Cyrus they do not hold 577m shares they hold 1 B share which carries 577m votes. ANGM have advised Cyrus are to participate in the company restructure. If this is true then it is highly likely that Cyrus are going to partake in the equity raising in exchange for greater control of ANGM. Several options then open up here. The share price is supported back up to and above 1p so further shares can be issued or the company is recapitalised with ORD value reduced from 1p from 0.1p. There is a third option. The company decides to delist in order to reduce costs and operate away from the prying eyes of 10,000 private shareholders and the regulators. Whichever, but consolidating for the sole purposing of diluting is not one of them.
30/12/2011
01:27
mrdanny: Jungmana, you're wrong. If you're comparing the share price now to the price it was this time last year, then the current share price should rise to 4.5p. The number of shares have not doubled. The b share has always been in existence and effectively means dilution has been circa 30%. Thus, last January's share price of 6.5p would now equate to 4.5p to give the same market cap. You should also consider that the company is now a year closer to delivering bam. Cable car is in place, mine director appointed, gold price has increased...........all these factors may arguably support a share price well above 4.5p in the very near future, on the way to providing fair value for nalunaq of 7.5p. The when bam begins to be realised in the share price, you're talking double digit share prices. I can see why moreforus gets frustrated with posters like yourself. You dont understand this share or the background here, but you think you do. You shouldnt make such ill informed sweeping assertions without the knowledge of the facts to support your statements. You clearly have an agenda here.
24/1/2013
20:45
superg1: As a reminder M4us prediction. My tip was IOF (16/17p to 116p now) which I went all in on, and continue in that one. moreforus - 13 Dec 2011 - 09:47:24 - 27608 of 202649 ok superg1 tell us about your other shares ANGM price 1.3p 1st target 7.8p with gold mine in full production ANGM price 1.3p 2nd target 30-40p with gold mine and zinc/lead/silver mine with 25 year mine life and fully JORC compliant metal with gross value of 1.5 billion usd so i make that 6.5 bags for the 1st target i make that 30 bags for the 2nd target so tell me about your wonder stocks. is it CNR , maybe TPJ ..could it be IOF...
29/10/2012
08:08
gb234: PW, I guess that you have bought in thinking the share price is cheap,yea with dilution a strong possibility.ANGM have already said that equity cash would be used, so how are they to do placings at 0.5p share price of a 1p nominal value share? To reduce the nominal value to 0.1p ANGM will need to have an EGM (I read somewhere) but they haven't told us about one yet.Yes they could go private but that can tie PIs funds up for years.They could also do a consolidation and then placings and this is I think the likely scenario, although I accept that there are others.As for Cube boss comment that 'BAM is worth no less now' I disagree as if Cyrus take 75% of it then BAM is only worth 25% of its original value to ANGM share holders.ANGM has already developed BAM to the point of cable car access,how did they do this? With constant placings from 8p to 0.5p! This lesson won't be unlearned and will likely be repeated imo.
12/12/2012
08:03
induna123: Typically for an AIM stock consolidation is only ever used for the purpose of issuing more stock. The reason being the share price has fallen so low that that are worth less than the nominal value. That usually tells you a company is in trouble and need funds urgently and the only way they can do this is through a capital re-organisation. Shareholders have to agree to this otherwise the company is effectively bust. It makes me laugh when I read on here people saying let's get the share price back to 1p then they can issue more stock. Why would you buy at 1p if you think the company is about to issue a load of stock? Bottom line is ANGM have f'ed up over the last 18 months. That's why they are in the position they're in now. Don't blame the bears/bashers, blame the mgmt. Spending all the money on a shiny cable car that's going nowhere for the foreseeable future. They needed to get NAL right first. They need funds urgently. There's no escaping this. They have to find $3.85m by Feb 15th.

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