Anglesey Mining Share Discussion Threads

[kermat] 15/11/2013 10:52

I was expecting far better than this quite frankly. If they are unable to make a profit at these levels of IO price, they never will without a big ramp up in production, which they cannot afford.
Best course of action is a controlled sell of of assets to raise some cash and mothball mining operations until better conditions prevail.

[mcmather] 15/11/2013 10:50

Hmmm. Page 15 of the MD&A doesn't inspire massive confidence. At least all 10 ships should be shipped this year.

[bodgit] 15/11/2013 10:32

Quick read through on SEDAR and it does not look good. Still loss making with IO prices at a decent level. Now 50% + underwater on these. Time to quit? Hmmmm, lets see what happens today. Good luck all.

[abergele] 15/11/2013 10:24

Damn missed a cheap top up, or should I say average down the losses..bahhh

[laserdisc] 15/11/2013 10:24

yes they need cash to start up in 2014

[noccer] 15/11/2013 10:15

Already on SEDAR - $25M loss on the quarter. Should be an interesting webcast.

[diesel] 15/11/2013 10:01

Yup, expecting results from LIM to be inline with their usual disappointing underacheivement.

[laserdisc] 15/11/2013 09:58

i dont think this is looking good a few sells coming in on aym

[noccer] 15/11/2013 09:31

Interesting point on Stockhouse. LIM market cap is $37M, TSMC has to pay $23.5M just to gain a further 20% share in the Howse property. That 20% of Howse is just 3% of the LIM portfolio (Howse is 15%). As they say in the USA - do the math!

[kermat] 15/11/2013 07:51

The valuation is obviously way too low, priced to fail really. Bearing in mind that they got $30 for a 50% stake in Howse their assets are obviously worth much more.

These results are key to the future really - if they cant make reasonable profit with iron ore at these rates, a breakup and sell off of resources would likely be final result IMO, and the sooner this is done, the better for existing shareholders.

My concern is that they may come up short on the number of shipments this season (maybe as low as 8) due to the late startup. This would impact results heavily. If this is not the case, I would expect a strong bounce up to at least 45-50 cents tomorrow as this should have been a good qtr.

They should be making at least $20/ton at current levels, just to survive the next couple of years during which prices are likely to be lower, if they cant do that, they are relying on an unrealistic ore price and will likely run out of cash next yr.

I am tempted to buy into LIM at these levels, but am heavily invested via AYM already and not sure if I can take the risk of further losses.

Parys is still a sideshow, but at least it gives AYM some value if LIM goes under over the next year or so.

Good luck to all.

[mcmather] 14/11/2013 22:40

Cheers laser and likewise. Still sat on some quite heavy / historic losses from AYM. Thought a dabble on LIM might help things along in the right direction; just two shipments in the previous quarter / some seemingly one-off costs or fines / cost cutting ongoing / price of ore hopefully being 'profitable' / etc.

If things have progressed as hoped then, hopefully. I was then mindful of the relative positivity of the last webcast and the content of the recent presentation.

Still mainly figures crossed stuff as opposed to genuine belief but a m/c of £20m for LIM just struck me as too low. Far too low (imo) if the progress alluded to has been made.

[laserdisc] 14/11/2013 21:12

mcmather good luck for tomorrow not much to say we will find out more at 4pm.
in the past sedar has reported info early morning

[diesel] 14/11/2013 17:38

Hi laser, yup still here but LIM has seriously disappointed, I would have thought that with the ore price holding up a floor under the share price would have been much higher than this. I guess they now have the problem of profits for the year enough to keep the business going but not to gear up production and so reduce costs/tonne. Some bad luck, when on their first year of production IO price tumbles but we are where we are, and although LIM should be valued higher than this they are now shackled to running the business and surviving, as I've said many times the costs are too high for a small producer to survive on their own, ESP sales costs.

[laserdisc] 14/11/2013 16:12

thanks diesel for your input was wondering if you are looking in here do you still hold any aym ? these mm do not wish to drop aym at present despite the sells,

[diesel] 14/11/2013 15:52

Well LIM has a bit more of interest today, but as I see it even if it doubles in value it still may not add anything too the AYM price.

[mcmather] 14/11/2013 15:45

Bought some LIM. At C$0.26 the other day the mc was just shy of £20m. Felt that was very cheap albeit still dithered a bit before buying (C$0.27885).

The last webcast from the company (LIM) was reasonably positive and alluded to them believing that they were now "out of the woods".

Fingers crossed for tomorrow.

[hyper al] 13/11/2013 08:03

captj

Looks that way, a real shame!

[captj] 13/11/2013 07:58

Still holding on to an Anglesey penny but likely the only metal from there I will see unless they offload it, as more profit and better cost control for someone who is an established mine operator.

[rajaster] 11/11/2013 23:40

Thanks laser I will look into parys with fresh eyes in a few days. I didnt realise this org has been around since the 1990s, wow? ive only seen rns dating to 2000 period so presumed this was a privately listed entity prior. I was still a wee nipper in the 90s lol.As for tatas interest, ive seen the same problem elsewhere with projects being valued far below fair value and when orgs have gone bust their assets have been stripped and sold to the highest bidder, In this case tata would have a decent case of getting lim cheapily, I really cant understand why lim has fallen so low. There has to be some insider selling and mega shorting, we thought passport were being daft 12 months ago, its a shocking lesson and technically I could see it but my inexperience told me it would never happen, but has.Any of you have a look at infinis or merlin?. I think infinis could be a decent investment as the yields 6 to 7.1 %.had a look over the number and like the look of them. Debts is high but ebitda is increasing this is despite Investments in more turbines which are yet to be operational.

[laserdisc] 11/11/2013 19:35

rajaster , i think they are going to need about £15m to develop Parys but payback could be 3 years , i have been reading accounts back in early 2004 they indicated then that 52¢ per pound for zinc would be feasable, zinc presently around 86¢lb . has anybody got a figure what metal price would have to be now to get Pary's developed , its just that Bill seemed very positive about Parys on that LSE group visit back in July /August. We are approx 3 weeks away from aym's 1/2 yearly update , Parys is holding up the share price the net book value for parys is around £14m thats after all impairments the actual mineral resource in parys is vast . Share options to directors over the years have never been much lower than 4p. JK 'S current options are 5p think those are the only ones still not expired & marginally in the money , there are various others not in the money, 21p options i seem to remember. aym was floated in 1988 at 70p in 1990 they reached
£2-20p .
It certainly can react to an increase in metal prices !


At this low price now for Lim i hope it cannot get much worse, the mining licences & the plant /rail assets surely are worth something.
Tata need the rail line constructed over Lim property to get their own ore to port. Tata have to be interested in any outcome or break up of lim.

[rajaster] 11/11/2013 16:58

laser/noccer/others care to comment on anything I've said. I think it may be time we seperated LIM from AYM, the best result for AYM at this point would be a takeover at $1+ but I somehow doubt it would happen. I'm concerned by the recent drop, there must be insiders selling other whilst the fall wouldn't be as aggressive.

[eriktherock] 11/11/2013 16:47

Any reason to buy AYM before Friday ?

[laserdisc] 11/11/2013 16:43

IOC still have about 5 large tonnage ships in port log ships anchored or on the way to sept isles

[laserdisc] 11/11/2013 16:38

Toronto, Ontario, November 11, 2013. Labrador Iron Mines Holdings Limited ("LIM" or the "Company") (TSX: LIM) will be releasing its September 2013 Second Quarter results before the market opens on Friday, November 15, 2013. LIM's financial statements and Management's Discussion and Analysis will be available on the Company's website and filed on SEDAR (www.sedar.com).
Members of the senior management team will host a conference call and webcast on Friday, November 15, 2013 at 11:00 am (ET) to discuss the results.

[laserdisc] 11/11/2013 16:34

Lim have postponed results they will be out this Friday 15th Nov there will be the usual live conference call