Anglesey Mining Share Discussion Threads

[rrr] 28/10/2013 21:18

Thanks again. I wonder if "18 months to 2 years" is realistic, mining seldom seems to run to schedule.

[laserdisc] 28/10/2013 20:49

LIM will be reporting 6mths to 30/9/2013 around 3 weeks away say week ending 15/11/2013 there is a possibilty they may add to the lim rns info on parys
see marth's post 2390
"This place will look an awful lot different on your next visit

lets hope the quote comes true
metal prices do need to improve

[rrr] 28/10/2013 20:39

Thanks very much laser I didn't see that. So the next regular announcement will be a half-yearly report towards the end of Nov?

[laserdisc] 28/10/2013 20:34

they stated in July
evaluate all the options for moving this project forward to production.
suppose it depends on metal prices
would expect a further update say end of year.

jks other co Canadian zinc is proceeding with production
hxxp://www.canadianzinc.com/

[laserdisc] 28/10/2013 20:24

they probably still have around 500k in cash.
extract from the last accounts 23/7/2013
Micon had also made progress on a scoping study for Parys Mountain but given the current market
conditions the company has decided to have a fundamental review of the technical and geological
information available and to evaluate all the options for moving this project forward to production.
In July 2012 a net profits royalty on production from Parys Mountain was bought out and cancelled and
outstanding advance royalty payments of £759,680 were settled for a cash payment of £630,000 and the
issue of 2,000,000 ordinary shares. Cancellation of that royalty will improve both the economics and the
ability to finance the Parys Mountain project.
We hold freehold title to the area of Parys Mountain that contains all our known resources and
infrastructure. We have very low on-going cash commitments and these remain well within the current
financial capability of the company, allowing us the benefit of time to make assessment without any risk of
loss of resources.
We continue to closely watch base metal markets both from a price perspective as well as from a
materials supply view. We remain confident that the zinc copper and lead in Parys Mountain will improve
firstly in relative demand which will flow through to higher prices in the medium term and we will be well
prepared to take advantage of this at the appropriate time.

[rrr] 28/10/2013 20:00

It'd be nice to have a better idea what the plan is for Parys. Has a scoping study been published yet???

Nov 2012:
"Parys Mountain
The 2012 drilling programme at Parys Mountain which was commenced in January has been
completed with 12 holes totalling in excess of 2,000 metres having been drilled. The
results from all these holes have now been received and have added significantly to the
data base and more importantly to the better understanding of the geology and the
potential location of mineralisation. The last set of holes drilled about 1,200 metres to the
east of the Morris Shaft have demonstrated the lateral extent of mineralisation. During the
period the Intermine future royalty was bought out in its entirety for 2,000,000 shares and
$C1 million (£0.63m).
Micon has completed a revised ore resource estimate for the entire site and this will be
published shortly. Based on this new resource Micon is close to completing a scoping study
for the development of the White Rock and Engine zones initially utilising decline access
from a location close to the planned processing plant. On receipt of this study the
directors will review all the options available to progress development of Parys Mountain
as a mining operation."


August 2013:
"Parys Mountain

Operations at Parys Mountain have been limited since the last report and largely confined to care and maintenance of the facilities. Nevertheless a geological review of the property based in a large part on the results from last year's drilling programme has commenced and is expected to lead to a reappraisal of development targets which will be an input into revisions to the Scoping Study."

[hyper al] 28/10/2013 19:30

speedsgh

Yep, shame AYM are not an iron ore producer but just a small share holder in one.

I really do not understand why anyone would now purchase shares in AYM for it's small investment in LIM, in fact that is probably why the share price is staying down here. If I wanted to invest in LIM, I would buy LIM shares and not AYM.

[laserdisc] 28/10/2013 19:12

hi diesel my calculations fwiw on 19/9/2013 they had shipped 1050 tons
ships in port presently
bale oldendorff 220
guo may 165
dream power 125
rugia 170

if these are the lim ships then they will should achieve target.
lim seemed very confident at last management update
dejardins were selling. Scotia capital recently gone mkt perform
Now that there are many lim shares floating around & not tightly held lim can be manipulated downward , very few shorts at 15/10/2013 around 10k.

As lim continues to fall it must be getting ripe for a takeout or merge with tata in some form.
Braving the storm with a large holding it will be interesting to see what happens here as the share price lowers.
Are management going to but any shares? & show the faith.

Do they have any investors lined up for aym, they are going to need a few investors to get aym up & running, last time they got a consortium or around 18 serious investors the cheaper the share price goes the greater chance of a turn around.

There is a further ioc ship captain veniamis 170 tonne thats an additional ship to add to equation

whether they all are contracted lim ships cannot be sure as port inventory not detailing lim . see port of sept isles has loaded its 1st china supa max ship for cliffs 300t

lim appear to have applied for permission to mine gill in 2014 & ministers decision will be by end of november should be a formality but will be needed for 2014
iron ore holding up well still around $133

worth a view tata nml site shws construction of rail tracks which will join into lims rail line . many photos of neigbours dso operation
hxxp://www.nmliron.com/projects/dso-project/construction-status.

[diesel] 28/10/2013 18:00

Looks like their is nothing to stop this continual decline in LIM, I presume they are going to undershoot their target.

[speedsgh] 16/10/2013 11:06

Very interesting view on the iron ore outlook. It has a reasoned positive outlook.

[rajaster] 15/10/2013 17:08

"Is a lse listing worth anything in relation to value of share price ie if it were just a shell co
with no assets"

A shell org will be judged by its management track record, as bill and co have been talking since 1990s of mining parys without much action and have failed to monetize from LIM when it was above $10 the market wouldnt still have any respect for AYM. In regards to 2014, aym needs to stop drilling mice holes and get to business, get some gov backing and a partner on board and deliver some serious results, end of the day if BAO can get the attention and investment of IFC in Mozambique then surely there must be a way of getting funds to fast track parys without the talking about it for years.

[laserdisc] 15/10/2013 16:19

if you include isdx trades & lse the net sells are a total of 65k shares about £3580 in value & shows about 6% drop.
If this keeps going cheaper then i suppose it could help attract a partner to develop Parys ,they indicated that dilution would not be an option .
News update from lim is about 4-5 weeks way , perhaps we will get an update on parys before end of year ,
Interesting senario " forced to go private" perhaps juno would be interested as they hold the cards being a major holder of stock, the stake in lim would be attractive if corp activity were to come about in canada

Is a lse listing worth anything in relation to value of share price ie if it were just a shell co
with no assets.

were the other posters on lse correct re bills comments on parys
starting digging in 2014, he said that "This place will look an awful lot different on your next visit"

[rajaster] 15/10/2013 15:59

More falling as LIM continues to drop with 0.4 as the new resistance now, the games are unbelievable here, is LIM going to be forced to go private also as the market valuation is stupid now?
Further AYM trade 2 petty buys and one petty sell of pennies and they drop this 5% again, the MMs must be loving this.

[laserdisc] 15/10/2013 12:37

Despite persistent forecasts for a price fall due to greater supply and slower Chinese demand growth, benchmark 62-per cent iron ore sold for at least $US130 a tonne for much of the third quarter and now fetches $US132, sufficient to generate healthy margins

Read more: hxxp://www.smh.com.au/business/mining-and-resources/big-three-to-boost-iron-ore-production-20131014-2vhi7.html#ixzz2hn1OsHYI

[laserdisc] 11/10/2013 18:00

thanks for the charts rajaster i reckon the longs still holding out, i will take some more if it drops below 5p
interesting link re shareholding notification rules
hxxp://www.nabarro.com/downloads/major-shareholding-note-official-list-and-aim-2.pdf

[rajaster] 11/10/2013 16:47

although the weekly still isnt looking pretty.. we will have to just wait it out and see how this goes now, Areas of interest circled.



the 200 ema is my long term target but as this continues to side trend the weekly 200 ema continues to drop.

[rajaster] 11/10/2013 16:44

LS those look like sells. On a positive note there is a divergence on the chart as the RSI is touching 30 and pointing upwards as is the stochastic but the share movement was a higher low.

[laserdisc] 11/10/2013 15:06

certainly a buy over on isdx
11/10/2013 15:00

100,000 @ 5.5

not sure what the lse trades of 101 k & 95k @ 5.25p & 5.3p were

presently will take 250k at 5.26p so the mm still bidding for stock see what happens next week

[laserdisc] 11/10/2013 14:39

iron ore spot at $133 if lim do have late shipments they are still going to get on average over $120 so its looking OK for this season.
We are about 5 weeks away now from the next lim update accounts ending 20/9/2013
additional funds needed for Houston will be funded by Tata

[cal18] 10/10/2013 13:21

O/t SOLG to double today? Remember 7p to 15p last time and that was on poorer grades.

Great rns at solg just now and more to come!

[rajaster] 10/10/2013 13:19

I'm still holding on though as chart wise the bowl formation I'm seeing could see a nice recovery at some point to see this hit the previous targets i've mentioned, just a question of how big the balls are and having the patience to hold on. fallen 4 straight months after a 1 month rise in July.

[rajaster] 10/10/2013 13:17

fat chance LS that ermgassen still have AYM on their books.How this org ever became a FTSE org is mind boggling as it certainly deserves its place on AIM.

The risk on/off nature of this market at the moment is crazy and their trying their best to play with any stock that has low volumes.
Until the board step out of their comfort zone and starts to reduce overheads and their salaries and deliver what they insist on the city will treat AYM as the whipping boy. In 2010 this was around 4p and although it went mental and hit stupid highs off the back of LIM and a sector cyclic recovery, there's no interest now with plenty more interesting stocks on the market that are actually doing something and not sitting around doing sweet nada.

A relook at the numbers perhaps of the current number of shares/cash held by LIM and what the 15% is worth to AYM considering the shareprice is now below 40 cents.
100k sell maybe pennies but we don't see how much stock is held with margin and whether there's some deliberate moves to drop the price to clear some Bulls before sending it up again.

[laserdisc] 09/10/2013 19:51

well i took a look back of very old news back to 2000

they stated this in 2000
It has always been the objective of management to develop the Parys Mountain property into a producing mine and to acquire, explore and develop other properties. There have been great difficulties associated with doing this over the past few years, not least among which is the reluctance of shareholders and financial markets generally, to invest in small mineral companies - thus starving companies like Anglesey of the funds required to carry projects forward. Against this background and to assist in the evaluation of new opportunities, the directors have appointed Ermgassen & Co. to advise the group on the identification and acquisition of new ventures.

13 years later... no Parys development
wonder if we are still on the books of
hxxp://www.ermgassen.com/transactions/

perhaps we will get an rns by the end of year with an outlined business plan for 2014