Anglesey Mining Share Discussion Threads

[laserdisc] 18/11/2013 17:53

hyper al are you aware that lim altered the presentation sheet over the week-nd its now showing 30% ownership of howse tata 70% on page 25 so lim due $25m

[captj] 18/11/2013 17:31

More buy than sells and on little volume and dropped 8%. Is this being deliberately driven down to be taken out and if it is how much are BOD in the know. FT stock being treated like AIM stock and if price is based on supply and demand then must be a lot of selling that is not visible. Last 6 months here has been suspiciously smelly but the truth will eventually out. Daydream believer to doubter as this is making monkees out of us. This is the only FT share I hold and is in worse state than any of my AIM stock where at least you buy expecting the BOD to be barrow boys and trade accordingly.

[rajaster] 18/11/2013 17:16

Laser at this points charts don't really help us, there's historical support around 4p which has been reached, we will have to see how sentiment plays now and how the markets judges the Market cap, is it a fair price at 4p and are there enough buyers to support the price. As it stands the sentiment is against us and the directors really don't seem to care less to busy with their folly walk up them mountains of promise yesteryear, hard to believe anything they say.

If you look at historical prising, this has been as low as 0.5p!.



I dare not scare you as I hold a small chunk in my ISA, but either way at the moment until directors decide to support the price there is no support, historically we priced this using LIM and not parys due to the lack of development and now thats down the sink I dont think we can attribute valuations. We will have to see what happens next fundamentally in order to decide on fair value and price direction. 4p is Pivotal below that price support in multiple place:

[laserdisc] 18/11/2013 17:12

interesting post over on stockhouse outlining possible option for lim in selling deposits to tata for them to process

We should be due some news in the next few weeks solely for aym ,
the present mkt cap is around 7m , if aym do sell their 15% stake in lim to tata it would create some cash to start up parys

[diesel] 18/11/2013 17:09

Abergele, admire your confidence, but this will never see 90p again, at that time AYM had 50% of LIM and they were looking like they were going to be a 5mill tonne/year producer. Both companies are virtually cashless and at the mercy of whatever deal they can carve out with partners.

[abergele] 18/11/2013 16:56

Hello again Guys,Al,and Laser,
still hanging in,took a gamble top up again,

kept doing the same with MDW, and ,well you know we had an end to our misery there today,and came away with profits ,so not a bad thing waiting,
this has to go back up,it's logical,don't ask me why,but it will,what made it go past 90p 2 yrs back,nowt has changed,it's just the buying power,and maybe some good news,so I am here still Al...

[laserdisc] 18/11/2013 16:39

think that was prior to the labrador ipo 2007.. may have been 2004 perhaps rajaster can post some charts to see where we are heading

[abergele] 18/11/2013 16:01

This TATA fella only has to open his wallet and the change that drops out will buy AYM,
so he has an instant 19% of LIM,the rest he can get with another wallet,
and guess what,he suddenly finds he owns the rights to the ore in Canada that he wants..sounds ok in my book...

[rajaster] 18/11/2013 10:19

4.25p on the bid, sinking hard and fast since friday.

[laserdisc] 18/11/2013 09:13

Cannacord go 40c for lim
2014 mining plans will be known feb 2014
Basically just valuing a mineral resource at Houston
Does not inspire does it
think i will refrain from posting

[eriktherock] 16/11/2013 17:44

Post of the Day
mikehutch2
16 Nov'13 - 15:55 - 2563 of 2571

[laserdisc] 16/11/2013 17:27

LIM $34M EXCH 1.68 £20.2M 15.3% =£3.09M

[laserdisc] 16/11/2013 17:16

yes think i was using £2.5m..
lim could be worth treble if tata bought out the lot. then again could be worth £1m if it were to fail, ie mining licences only. That presentation from friday has been updated, LIM will need up to $25m for next years startup,have Tata come to the rescue for 2014 startup . I think possibly these next 3 shipments only help to pay for present current liabilties due on various contracts , the present accounts show cash & unrestricted cash but i reckon that is needed to pay for this years liabilities.
Wish i could read accounts better

[bam bam rubble] 16/11/2013 17:11

The market cap still looks weighty here

19,289,100 LIM shares worth £2.865m at 25c
Parys on care & maintenance, negligible value at current prices
cash position at end of March 2013: £0.7m -£2.4m long-term liabilities

[laserdisc] 16/11/2013 16:52

PAGE 25 of presentation currently SAYS


Target
Production 2 to 3 million tonnes 10-year mine-life
LIM 30%
interest Up to 1 million tonnes annually


So does this mean that news is imminent Tata increasing stake? & paying lim some more cash . Would lim now have drilling results to complete such a deal
Actually says $25m on presentation

but the last rns says this
Following completion of LIM's $5 million exploration program, and the calculation of a new NI 43-101 resource, HML shall contribute the next $23.5 million to the Joint Venture and thereby increase its participating interest in the Howse Deposit to 70%. It is currently planned to complete a feasibility study by July 2014, with a target for commencement of mine development in 2015 and commercial production in 2016

[laserdisc] 16/11/2013 16:48

PRETTY SURE PRESENTATION HAS BEEN UPDATED FROM YESTERDAY

[laserdisc] 16/11/2013 16:47

THE ACCOUNTS RELEASED SAY 51%

Joint Venture with Tata Steel Minerals Canada
During the quarter, LIM reported that the previously-announced Joint Venture Agreement with TSMC for the
exploration and development of LIM's Howse Deposit has been completed. LIM has sold a 51% participating
interest in the Howse Property to Howse Minerals Limited, a wholly-owned subsidiary of TSMC, and received a
total cash consideration of $30 million.

[laserdisc] 16/11/2013 16:44

HOWSE

CAN SOMEONE CLARIFY DO LIM presently own ONLY 30% INTEREST IN THE PROJECT as i have just looked at yesterdays slide presentation i am sure it said 2m tonnes yesterday am i mistaken has this been updated

[laserdisc] 16/11/2013 16:21

mcmather agree, i see an analyst asked my q is there any penalties on metaloyd contract, seems not a clear answer,No penalties fair enough, but what happens i presume they have to buy ore contracts to fulfill any shortfall obligation. There may be no penalties, but it would be a cost if not fulfilled.
Get out possibly would be to borrow some proceesed ore from Tata & LIM will oblige in some other way.
They seem to be hoping to get a stream of raw ore for 2014 processing from around Houston area or howse, again it wasn't clear. If drilling not complete, how do they know that lot isn't going to be a bad batch full of clay, they have not yet had confirmation that trucks will be avail to move raw ore back to silveryards. Presume they are hoping Tata's truck contract will be used once tata no longer need as rail line will be completed for NML.
Basically costings & finance plans have not yet been done for 2014, i see intention to use Gill to some degree, at least the planning for Gill is in pipeline & ministers decision will be released end of month.
Looking at the figures i don't see much left if its broken up Tata will be certainly interested in mining licences don't understand what that $9m was about, Did the insurance put policy for ore prices cost em about $3.5m?. Seems the spot price of ore is reduced by approx 15% when they take the monthly averages they received $117 tonne.
some of directors were selling lim at $13 its high, but thats in the past . Notice jk did not mention the share price this time around, last conf call thought it was undervalued, think the number of analysts now covering has dropped off to about 7 from 15

[mikehutch2] 16/11/2013 15:55

CaptJ....... I share your feelings of bitterness and discontenment associated with the performance, or lack of performance, from the BOD of AYM, cumulating in the disastrous position in which we find ourselves. I have held shares since 2004. Patience is a virtue, or should I say patience is torturous with the BOD of AYM. They have been banging the drum, waving the flag, and attending the road shows for AYM for many years.
They have dangled the carrot of Parrys Mountain mine re-opening for well over a decade, they have drilled it, re-drilled it, updated resources, everything except making any further advancement in actually mining it!!
We still await the scoping studies that Bill (scoping studies coming soon)Hooley mentioned in 2012! to say we have been strung along is a gross understatement, one excuse after another. Labrador Iron Mines is a disaster story, a complete and utter shambles of mis-management, dilution and debt, borrowing today what we are unable to pay back tomorrow, then what? Perhaps the only way is to raise an on-line petition or similar action involving the Welsh Press (investigative involvement) on behalf of the private investors and forward it to the board.

[mcmather] 16/11/2013 15:24

Can't believe how relatively relaxed and jovial Kearney and the rest of them where yesterday when they have overseen a fall in the LIM share price of around 98% from its peak around April 2011.