Anglesey Mining Share Discussion Threads

[rajaster] 29/5/2014 14:49

that's well thought, for some reason i'd totally missed that parys zinc could be used to galvanise steel in sweden. that makes things interesting and if AYM can get the mine running and start work at parys we could see AYm taken out. I may take advantage of any further weaknesses now as i could do with bringing my average much lower.

[mcmather] 29/5/2014 14:38

Hopefully also hear something soon re LIM; slow reversal on the go at the mo' re the share price

[laserdisc] 29/5/2014 12:56

Yes Bill has said possibilites to export any zinc concentrate to Sweden, if Parys is a starter then all the mining activities can be interlinked in some form.
the Forward contracts for Zinc prices ie Dec 2014 are higher something like 96c lb so we are getting closer to $1 lb which must help in evaluating Parys mineral extraction, i presume they must take out some type of forward deriv on zinc if they start mining to protect them from a metal pricing collapse , the key to a good price rise here would be development of Parys , if management can get Parys started it would make this swedish iron ore aquisition even cheaper in the longer term ,

[nohope2] 29/5/2014 12:44

Probably unrelated but, if Parys start operations then there is a strong possibility that the ore would be sent to Sweden for Processing.

[laserdisc] 29/5/2014 12:04

[...] Proactive have an update

[laserdisc] 29/5/2014 10:10

hi a lot more research needed by me the iron project in the past was producing pellets of a high grade latest feasabilty says 70% Fe pellets to be produced, once employed 1500 we need to know the projected costs , looks likely that a aym roadshow possibly with proactive will take place in the coming months one good thing transport & port can take Panamax capacity today and a future potential for Capesize vessels, the co that did feasabilty also has done work for tata

If Parys is developed the share price here will be a lot greater than it is now , they will then have various options less aym shares to issue for the bigger stake in Grangesberg Iron, also it will open further routes for Joint venture investment in both Parys & iron ore opens a few routes/ options to take

[marth] 29/5/2014 10:09

...The Life of Mine, based on NI 43-101 defined reserves and the mine schedule of the PFS, is 16 years. However, there is considerable potential for a longer LoM, partly due to the possibilities of including more of the mineral resources with increased knowledge of the ores later on in the project, and also due to the ore body being open to the depth. The The time plan includes first production Q4 2015, reaching full production in Q4 2016...

- I can't find the reference I just read but iirc this timeline has already slipped by around a year based on the original financing target date. Could progress rapidly if the evaluation is positive though with licencing, rail agreements etc well positioned.

IO rajaster? I guess it's what they know best. (Dons rose tints...) Maybe they've spotted a bargain at the bottom of the market?

[rajaster] 29/5/2014 10:00

i'm disappointed the company has moved into the IO sector, of course money can be made but the spot prices are very volatile and there are a large number of IO projects due to come on stream from the bigger miners for which reason GLEN have chosen not to involve themselves in this sector of mining. everything else looks positive though and i hope in time it will see the share price recover sufficiently for us. I will comment on the share price tonight as the closing price is more important than the interday movement. the 200 day moving average is currently above 6p so hopefully we can test that area at the very least.

[abergele] 29/5/2014 09:59

Hello again Laser,
what's your take on the numbers? for shares to be issued.

thanks Marth..I may delete my numbers

[laserdisc] 29/5/2014 09:49

should rank as one of the most interesting iron ore projects in Europe.

[laserdisc] 29/5/2014 09:43

Grängesberg was one of Sweden's most important iron ore mines, next only to Kiruna and Malmberget. Although the Grängesberg mine closed in December 1989, mainly due to the prevailing market conditions in the late 1980s, significant amounts of iron ore still remain in the mine. The iron ore mineral deposit is one of the largest homogenous iron ore bodies in northern Europe, with a high iron ore grade.

[marth] 29/5/2014 09:31

Abergele: I make it around 31m shares to raise $1.75m at 3.375p, although that reduces to around 28m at 4.25p... and counting. (very approximate numbers!) Who knows where the share price could be by the time of any deal?

Interesting and unexpected move though and some similarities to LIM - i.e. 250km rail to port - but other differences - hopefully no Inuit, presumably more efficient transport links and local markets etc.

As laserdisc highlights, improving prospects for zinc (and other bonus minerals) should mean that Parys is steadily becoming more viable and the possibility of an eventual JV or sale remains.

I see the ubiquitous Danesh Varma is a director of Eurang Ltd

[mcmather] 29/5/2014 09:31

Will hopefully be a positive down the line?

"with the right to acquire control of the Grangesbergproject on attractive terms."

[abergele] 29/5/2014 09:27

Can;t understand why we did nothing at Parys,won't the welsh office sponser some cash against work prospects for locals....we just sit about on it costing
security,

[abergele] 29/5/2014 09:22

Naaahhh that can't be right what I put above?..shall I delete it?

[someuwin] 29/5/2014 09:17

Market likes it.

[abergele] 29/5/2014 09:17

Option to acquire 51% of Grangesberg

Upon the exercise of the option, which will be entirely at Anglesey's
discretion, Anglesey will acquire all of the shares of Eurang Limited by the
issue of new shares of Anglesey to the value of $1.75 million, to be priced at
the average of the Anglesey share price at the date of option (3.375p) and the
20 day average share price prior to date of exercise, (but at no lower than
3.375p), and thereby acquire direct ownership and control of the 51%
shareholding in GIAB, and thus increase Anglesey's direct interest in GIAB to
57%.
=====================================================
Nearly 52 million shares to be issued if my calcs. are correct,
or have I lost the plot...lol

[tomboyb] 29/5/2014 09:13

In for a Punt -

[littlemadam] 29/5/2014 09:04

rns says they will pay for more than 6% of the company in shares. Anyone calculated how many aym might need to issue?

[abergele] 29/5/2014 08:59

Can't buy online now,No stock available then,
telephone or send and wait....good for holders,but a bad way to buy,been done once by that nonsence

[abergele] 29/5/2014 08:55

Laser,
well done by your adding on the lows,gla.
I still hold,may add today,but wondering if we are going to get a rights issue for this venture,
What is your thought Laser?

[mcmather] 29/5/2014 08:38

Indeed. Wouldn't have thought that an acquisition would have been the first thing on their minds....

Onwards and upwards, eh. Eh?

[diesel] 29/5/2014 07:46

Have they the finances to fund this new venture?

[bodgit] 29/5/2014 07:38

Well that was a surprise, and welcome. Interesting to see if and how the share price responds today and beyond. Good luck all.

[mcmather] 29/5/2014 07:27

Interesting development all round.

And about Anglesey:
A detailed review of the resource base for the entire (UK) site has recently been commenced by Micon International. The company continues to review the future demand predictions for base metal concentrates particularly zinc ahead of any decision to move to development and production.