Anglesey Mining Share Discussion Threads

[rajaster] 08/10/2013 12:55

I think everyones getting sick of standing around waiting for AYM to recover and whats wose LIMs looked weak for a while now.

[laserdisc] 08/10/2013 12:20

lots of trades going through on isdx as well as lse
seems there were sellers but later buyers returned
isdx trades
08/10/2013 12:12
40,000 @ 5.25
08/10/2013 12:11
50,000 @ 5.25
08/10/2013 11:25
5,459 @ 5.25
08/10/2013 11:16
2,000 @ 5.49
08/10/2013 11:05
40,000 @ 5.5
08/10/2013 10:53
85,704 @ 5.51
08/10/2013 08:30
4,295 @ 5.51

[noccer] 08/10/2013 00:33

Looks like the Quebec government has decided the new railway needs to be built, and have stumped up money for a pre-feasibility study. So many potential projeects would otherwise be blocked by the finite carrying capacity of the single track TSH railroad.

hxxp://www.marketwired.com/press-release/champion-is-pleased-with-quebec-governments-announcement-a-pre-feasibility-study-a-third-tsx-chm-1838627.htm

[noccer] 03/10/2013 00:20

There's still all sorts of horse trading going on for the iron ore in the Labrador trough. Just spotted this one :

hxxp://www.marketwired.com/press-release/champion-iron-agrees-sell-its-remaining-interest-attikamagen-project-century-iron-tsx-chm-1837400.htm

[laserdisc] 30/9/2013 19:39

its been copied on mio iii thread

[marth] 30/9/2013 18:28

Possible UK zinc competition from another J Kearney enterprise, Minco :

[laserdisc] 30/9/2013 10:53

x2 will have a field day picking up various investments across the markets we do not know yet what metals they propose to invest in

[noccer] 30/9/2013 10:44

Metal Expert Consulting have issued their quarterly iron ore price analysis - which looks at predictions of 25 or so analysts, as well as their own analysis of the market and predictions. In Q3 the average was $132/t, they had predicted $130/t (or $115/t on alternative scenario), the analysts consensus was $120/t. They have dropped the alternative scenario, and are predicting $139/t for Q4 2013 up from the $132/t they had predicted in July (analysts consensus for Q4 is now $120/t, up from $110/t prediced in July). All prices ref benchmark 62% fines.

hxxp://metalexpertresearch.com/research/en/global_iron_ore_price_forecast_%28october_2013%29.html?OpenDocument

hxxp://metalexpertresearch.com/enPrognozyByMarkets

All previous reports are also on the website. Certainly future years look profitable for LIM based on predictions of average 2014 of $130/t, 2015 at $125/t, and longer term at $120/t.

[captj] 26/9/2013 13:11

China have to keep its expansion up or lose face and rest of the world slowly recovering which means catching up on everything put on back burner so personally think IO prices should hold up as if anyone who travels widely will see most countries infra structure sadly in need of refurbishment and rebuilding the main part of which requires IO in various forms so hopefully this will also help in supporting price.Will see where we are by this time next year before bailing out if no improvement by management as to getting share price back up and some value realised.

[noccer] 26/9/2013 11:27

I think dilution must be the major problem for investors wanting to get in early on juniors. The whole idea of gambling on a good return from a junior is watered down when they keep going to the market, my LIM shares are a good example. I wonder if this is a problem for specific capital intensive market sectors or applies to tech companies too - which is another area I like to play with.

Good news for LIM is that iron ore price is holding up above $130, defying the analysts who said it would be down at $100 (some even said $80).

[marth] 26/9/2013 00:26

Nicely put and I don't particularly disagree captj - I visited last year (& drank the Kool Aid on a sunny day!) but I'm a year older, a bit wiser & a bit poorer as a result so somewhat less involved these days. Time will tell, possibly.

[noccer] 25/9/2013 12:53

Marth - "Starting digging in 2014" - that sounds a lot more positive. Of course, as Glencore say there will be a shortage, then maybe Glencore would like to put some money into AYM in exchange for a take-off agreement.

[laserdisc] 25/9/2013 09:59

Todays Rns voting on the Agm looks likely only Juno have voted they currently hold 57924248 shares

The ordinary share capital of the company is 160,608,051 shares with
voting rights; there are no shares in treasury.

What i do not understand is where would approx 100m shares now be registered with.

Could it effectively mean there is a massive overhang ? Surely the co should know who is holding all its shares its a massive % 100m

[marth] 25/9/2013 09:59

Interesting - and ties in with reports from the recent shareholders' visit to Parys (see L S E board) e.g. from Divermike:

"... I asked Bill (Hooley) a very specific question after he said that we will be taking advantage of the expected shortfall in Zinc production in 2016, I asked "How long will it take from putting the first spade in the ground to producing ore at Parys Mountain?" his answer was "18 months to 2 years" I followed it up by saying "That means we will have to start digging in early 2014" he answered "Yes it does", I also further quizzed him over lunch about starting digging in 2014, he said that "This place will look an awful lot different on your next visit" so there you have it, big changes are expected in the next 12 months..."

[noccer] 25/9/2013 09:26

Here's something positive for Parys. Glencore have predicted a forthcoming zinc supply shortage a few years out which could result in price increases as early as next year. This is earlier than most analysts think, but Glencore is the worlds largest zinc and lead miner and trader. They should know something about it.

hxxp://www.metal.com/newscontent/53241_zinc-deficit-coming-soon-glencore-xstrata-predicts

As far as I can tell, Parys is sitting waiting for prices of zinc, copper and lead to come up, as this has a significant effect on the financials. The tonnage of economically recoverable ore increases substantially as the price goes up.

[noccer] 23/9/2013 11:47

15.3% holding seems right, but dating back to February :

"Following LIM's fund raisings in November 2012 and February 2013, Anglesey Mining's holding in its associate Labrador Iron Mines (TSX:LIM) has moved from 26% to 15.3% of the issued share capital of LIM. In the November financing Anglesey subscribed C$1.5 million (£935,000) to purchase 1,500,000 LIM shares and now holds 19,289,100 shares. Anglesey currently has the right to purchase on a non-brokered private placement basis up to 3,000,000 units of one LIM share and one-half of a LIM share purchase warrant at a price of $1.065 per unit subject to certain conditions for a limited period."

I guess they didn't take up the option, maybe 19/8/2013 marks the end of the "limited period", and has resulted in it being reported.

[laserdisc] 21/9/2013 10:29

poster on stockhouse says inst buying of lim
No institutional buyer sold over last 3 months.
Net buyers who are adding to positions as follows:
Name
Shares
Bought
% Total
Shares Held
% Chg from
Prior Port
% Total
Assets
Date of
Portfolio

IG Investment Management Ltd
3,000,000
19.65
29.07
0
31/10/2012

Anglesey Mining PLC
1,500,000
15.28%
8.43
0
19/08/2013

Dimensional Fund Advisors LP
121,027
0.10
New
30/06/2013


i am not sure about this aym are free to trade lim investment but does this 1.5m shares relate to placing earlier in year if so where have they got funds from

[noccer] 19/9/2013 23:11

Its strange that the analysts don't mention the iron ore price at all.

I guess we will have to wait for another update to find the port stocks, and whether LIM will manage to hit shipment targets, but I am more concerned about the profitability. However, after a long winter I hope we get a long summer.

[laserdisc] 19/9/2013 20:44

Quote "Labrador Iron Mines is at risk of missing its CY13 sales guidance if all 10 scheduled ships do not sail before winter"

port remains open in winter i do not see it that greater risk, as long as they rail to port , its all presold anyway so worse case would be that they have a high port inventory

as i see it it cannot get any worse than it has been
lim seem to be improving its operation

[marth] 19/9/2013 20:09

Desjardins highlight all the risks in today's note posted by polo007 on Stockhouse:
________________________________________________
According to Desjardins Securities:

September 19, 2013
Labrador Iron Mines Holdings Limited
Rating: Sell–Speculative
Target: C$0.50

Management presentation at AGM highlights significant risks
Impact: Negative

Labrador Iron Mines held its annual shareholders' meeting yesterday. Management presented an update to shareholders and investors. In our view, the management presentation reaffirmed the significant risks faced by the company in the near term, medium term and long term.

In the near term, LIM is at risk of missing sales guidance. The company's sales guidance of 1.7Mt in CY13 assumes 10 shipments will sail this year. Management reported that five ships have sailed in CY13 to date and a sixth ship is currently being loaded at the port of Sept‐Îles, which is approximately one ship behind the company's anticipated schedule. We believe Labrador Iron Mines is at risk of missing its CY13 sales guidance if all 10 scheduled ships do not sail before winter. We maintain our CY13 sales estimate of ~1.5Mt, in line with the proportionate decline if only nine shipments are completed in the year.

James will cease operations at year‐end. Labrador Iron Mines told investors at the AGM that it would cease operations at the James mine by year‐end CY13 regardless of whether the mine is depleted. The company started mining from Redmond during the quarter, which will be depleted by the end of CY14, after which nearby satellite deposits (including Gill) and historical stockpiles could provide feed to Silver Yards. At this time, we do not know the size or grade of the future feed, but we continue to assume the deposits and stockpiles could provide ~15Mt at 58% Fe. We note that the Gill deposit alone has a historical (not NI 43‐101–compliant) resource of 4.3Mt.

In the medium term, LIM is at risk of increased operating costs in CY14. Labrador Iron Mines could encounter a production gap if the longer term feed to Silver Yards is unsuitable, low quality or high cost. Although we estimate the satellite deposits and ore stockpiles will be a ~15Mt mineable resource, a production gap is a real risk from CY15 if these feed sources are not economic.

In the long term, LIM is at risk of a production gap. We continue to expect Houston will be developed in CY14–15 for start‐up in CY16, behind management's suggestion that production could start in CY15. We expect that development of the first phase (road, bridge, rail spur, mine
development) will cost C$50m, and that the second phase (wet processing) will cost an additional C$50m. Our capex estimate is in line with guidance provided by management at yesterday's AGM.

We continue to rate Labrador Iron Mines Sell–Speculative and maintain our C$0.50/share target price at this time. We believe Labrador Iron Mines is at risk of missing its CY13 sales guidance if all 10 scheduled ships do not sail before winter. In the medium term, the company is at risk of increased operating costs in CY14 as it transitions to processing historical ore stockpiles and smaller satellite deposits. In the longer term, the company is at risk of a production gap if it is unable to finance Houston mine development before the feed to Silver Yards becomes unsuitable or uneconomic.
Read more at

[topinfo] 19/9/2013 13:10

Anglesey Mining PLC LIM - Annual General Meeting
Print
Alert



TIDMAYM

Anglesey Mining plc

19 September 2013 LSE:AYM

LIM - Annual General Meeting

LIM Operations Update

Anglesey's 15% owned associate Labrador Iron Mines Holdings Limited (LIM) held
its Annual Meeting of Shareholders in Toronto on September 18, 2013, and
provided an operations update of its direct shipping iron ore mines and
projects in the Schefferville area of the Labrador Trough, with the following
highlights:

LIM reported the completion of the Joint Venture Agreement with Tata Steel
Minerals Canada for the exploration and development of LIM's Howse Deposit.

For the fiscal second quarter ending September 30, 2013, LIM expects to report
the sale of four iron ore shipments (Ships 3 - 6) totalling approximately
700,000 wet metric tonnes ("wmt") of 62% Fe lump and sinter product. Three iron
ore shipments were completed in July and August 2013 and the next shipment
(Ship 6) is awaiting loading at the Port of Sept-Îles.

LIM's four shipments during the quarter should benefit from more favourable
iron ore market conditions, where the average iron ore price on the Platts
Index has been above US$125 per tonne (CFR China 62% Fe).

LIM's 2013 exploration program is budgeted at $8 million to drill approximately
14,000 metres ("m") on a number of key projects including the Howse, Gill and
Houston Deposits.

Iron Ore Sales

For the quarter ending September 30, 2013, LIM expects to report the sale of
four iron ore shipments (Ships 3 - 6) totaling approximately 700,000 wet metric
tonnes ("wmt") of 62% Fe lump and sinter products, outlined as follows:

Ship 3, SamJohn Dream, departed the Port in mid-July carrying approximately
186,500 wmt of sinter;

Ship 4, Hydra Warrior, departed the Port in early August carrying approximately
175,000 wmt (combined cargo of 128,000 tonnes of sinter and 47,000 tonnes of
lump);

Ship 5, Cape Althea, departed the Port at the end of August carrying
approximately 175,000 wmt of sinter; and,

Ship 6, Cape Northville, is currently docked at the Port awaiting loading with
approximately 165,000 wmt of sinter.

During the first quarter ended June 30, 2013, LIM completed its first two
shipments of iron ore totaling approximately 351,500 wmt, which brings total
shipments in 2013 to date to approximately 1,050,000 wmt. LIM is working to
complete four more shipments during the balance of the year to achieve its
target of 1.7 million tonnes of iron ore production in 2013.

Exploration

In addition to a $5 million Howse exploration program, LIM has budgeted $3
million for exploration drilling mainly on the Gill and Houston Deposits. Gill
is located less than one kilometre north of Silver Yards and is expected to
provide ore feed to the process plant in future operating years. The Gill
Deposit currently has a historic resource of 4.1 million tonnes at a grade of
56% Fe (dry basis).

Drilling will also be carried out on the Houston Deposits, which will test for
potential extensions (Houston remains open along strike) and to collect further
metallurgical information.

A copy of LIM's AGM presentation can be found at:
www.labradorironmines.ca/pdf/LIM-AGM-2013-f.pdf.

For the full LIM press release regarding the AGM please see LIM's release today
on its website at www.labradorironmines.ca

About Labrador Iron Mines Holdings Limited (LIM)

Labrador Iron Mines (LIM) is Canada's newest iron ore producer with a portfolio
of direct shipping (DSO) iron ore operations and projects located in the
prolific Labrador Trough. LIM has commenced its third year of operations and is
targeting 1.7 million tonnes of saleable iron ore production in 2013.

About Anglesey Mining plc

Anglesey holds 15.3% of Toronto-listed Labrador Iron Mines Holdings Limited
which is producing high grade hematite from its James mine, one of LIM's direct
shipping iron ore deposits in western Labrador and north-eastern Quebec.

Anglesey is also carrying out exploration and development work at its 100%
owned Parys Mountain zinc-copper-lead deposit in North Wales, UK where a JORC
Code-compliant resource of 2.1mt at 6.9% combined base metals in the indicated
category and 4.1mt at 5.0% combined in the inferred category was published in
November 2012.

For further information, please contact:

[laserdisc] 19/9/2013 11:05

longer term reamains a strong buy yes agree good to see other shares rising this will move on news of parys , we await news but could be 6mths away anyhow aym agm 24 September 2013

[rajaster] 19/9/2013 10:11

US markets up but no movement here.. all the hot money has gone to goldies. I kept hold of my stock here but the movement has been disappointing. Could do with higher volume. Tata deal news came and wasnt even digested as if it was priced in.Must be winter affect kicking in.

Longer term this remains a strong buy though and if it remains at these prices I for one will continue to accumulate for the next spike above 10p.