Anglesey Mining Share Discussion Threads

[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.

[laserdisc] 28/5/2014 18:48

BIT OF OLD INFORMATION
that detailed feasabilty study which has not been released was not available at the time of the proposed sale to Western metals which on completion of the feasabilty Western metals were prepared to pay £14.2m for the Parys property the present MKT CAP of co is £5.6M

[laserdisc] 28/5/2014 16:40

i am very optimistic for a recovery but thats me i keep buying AYM, must be worth a punt on Parys, the bonus ball would now be lim which despite no announcement on finance must have some extension to a bank loan as they were in negotiation for credit when the last accounts were published see the notes on accounts .They may be near the edge , but they can go into care & maint till a time that iron ore recovers,they may get an offer for whats left in the assets,at the last m&a management did not come across that all was lost ,they were actually jolly about something i seem to remember

[bodgit] 28/5/2014 15:23

LIM looking a bit perky today? Good luck all

[noccer] 28/5/2014 00:23

They have the JORC, they have the feasibility study (though haven't released it, so we don't know what it says beyond the RNS). If metal prices go up it doesn't just change the margins, I think it substantially inceases the tonnage that can be extracted profitably. Have they got the gumption to mine it - I really don't know, it could depend on finding a partner, or flogging it. Certainly several zinc mines are closing and there is quite a bit of chat about a supply/demand imbalance. Demand is increasing. Some pundits expect the price to double by the end of this decade, which would certainly help matters, but shorter term, who can tell?

[laserdisc] 27/5/2014 21:16

PRESENT METAL PRICES

Copper $3.18c /lb
Lead $0.96c /lb
Zinc $0.94c /lb
Silver $19.07 /oz 29 GRMS TO AN OUNCE

REF TO the SILVER ,,, BORE HOLE SAMPLE... AMC 15 reported in 2005 886 GRMS that one engine room bore hole was evaluated to contain
30 ounces of silver ... worth around £340 at current price

Since that drilling in 2005 you would think will all the latest technology they can determine where to mine to get the max efficiencies for silver extraction they have a lot of techno info this drilling & evaluations have been going on since the 1990's

i think this time around a final decision has to be made of what is going to happen to the project

[laserdisc] 27/5/2014 20:45

Thanks noccer zinc getting closer to the $1 a lb , ...reached .95C

hyper al reckons $1 lb for zinc was once mentioned in earlier years, i have been reading very old threads on here & over on motley fool 60c lb was once mentioned on motley fool , i know we have value in Parys

silver is very significant in engine zone all depends how all the metal prices mined correlate.I will leave it to experts to evaluate
I would like a clear update from Aym but suppose we will have to wait for their financials in July.

[noccer] 27/5/2014 17:43

Yes there's silver in the 2012 JORC resource estimates. Roughly on parity with gold price-wise in the white rock indicated, though I am not sure about the relative extraction efficiencies. Zinc is the main contributor to that the value of that ore body, followed by lead. However the silver is more significant for the engine zone. I'll let you do your own sums as converting from ppm to ozs, then to $/t I could easily screw up.

[laserdisc] 27/5/2014 17:16

noccer some years ago on Parys drilling silver was high on the agenda, do you have any drilling info on the silver content at Parys ? , i remember a poster here on Advfn "mohearne" who reckoned the silver could produce a significant contribution to mining costs at the Parys mountain site, has this very old news back in 2005 any significance today to mining or was the seam just a one bore hole