Anglesey Mining Share Discussion Threads

[trader536] 18/11/2020 11:36

Significant potential at Parys Mountain copper-zinc project
Joint venture in place
Labrador Iron restarts exploration

What it owns

The Parys Mountain copper-zinc asset in Wales

A 12% stake in Labrador Iron, which has assets in Canada

The Grangesburg iron ore asset in Sweden

What's the plan?

At Parys Mountain, The recently established collaboration between QME Group of Navan and Anglesey Mining plc (LON:AYM) already looks set to pay off handsomely for both parties.

As it stands, Parys Mountain is known to contain 2.1mln tonnes of ore in the indicated category, grading 0.58% copper, 2.18% lead, 4.11% zinc, 46 grams per tonne silver, with a little bit of gold thrown in.

The inferred portion is exponentially larger however, ringing in at 4.1mln tonnes at 1.46% copper, 1.2% lead, 2.4% zinc, with silver and gold credits too.

Note the higher copper grade in the inferred section, which is only partially offset by the lower lead and zinc grades, albeit that the price assumptions used then are a little bit out of date.

But even without the better copper grade, the inclusion of some or all of the inferred material into an updated economic model is clearly going to have a positive impact.

Under the terms of the deal between QME and Anglesey, QME will carry out a detailed review of Parys Mountain with a view to developing the optimum mining plan. In return for undertaking this work, QME will then receive rights over development contracts as well as a 30% direct interest in the mine once it has reached the point of first production.

So, Anglesey is handing no cash over to QME at any stage, and will not be diluted at the company level either.

What's the latest?

In a surprise development in October, Labrador Iron Mines started work on a Preliminary Economic Assessment for its Houston project in Canada.

It is the first activity at LIM’s assets since production halted in 2014 because of the low iron ore price, said Anglesey.

Iron ore prices have recovered strongly over the past two years and there has been an uptake in offtake interest it added.

From the chief executive
Bill Hooley, Chief Executive stated: “We are very pleased to announce this financing, which represents significant support for Anglesey Mining. We look forward to completion of the optimisation study and bringing it into compliance and to advance the development of the Parys Mountain project.

[justtrying1] 18/11/2020 11:33

Pump n dump

[spacedust] 18/11/2020 11:32

Larger buya going through

[gimmetheloot] 18/11/2020 10:51

Trader multiply the resource x 5 & Micon report due end of this month and then the Labrador report due next month and potential jv with QME so we have loads of news between now and Xmas.

[tez123] 18/11/2020 10:46

Dont forget our stake in Labrador as well.

[wassapper] 18/11/2020 10:38

and unlike many so-called miners (ie realy explorers) AYM has a mining licence for Parys. That's probably worth the whole market cap just in itself.

[trader536] 18/11/2020 10:17

You don’t need a Geology degree to see the amount of copper in Parys mountain:










This is a bit dated from 2017 but gives an indication of the value in Parrys mountain.....

“The overall net smelter return (NSR) for the three concentrates(zine, copper, lead) and the silver and gold precious metals contributions, is expected to total more than $270 million at the forecast metal prices used for the base case models”

[spacedust] 18/11/2020 09:46

Took a position here at 2.5p this morning and already up 25% aftwr receiving a tip last week. Could have got in much lower had i had funds but not complaining.

[tez123] 18/11/2020 09:34

Analyst RatingsLABRADOR IRON MINES (OTCMKTS:LBRMF) PRICE TARGET AND CONSENSUS RATING3 Wall Street analysts have issued ratings and price targets for Labrador Iron Mines in the last 12 months. Their average twelve-month price target is $28.67, predicting that the stock has a possible upside of 69,818.70%. The high price target for LBRMF is $30.00 and the low price target for LBRMF is $27.00. There are currently 1 hold rating and 2 buy ratings for the stock, resulting in a consensus rating of "Buy."

[deanmatlazin] 18/11/2020 09:31

The Group's cash balance at 31 March 2020 was GBP95,311 (2019 - GBP6,012) the
increase being due to a loan of GBP100,000 received from Juno Limited in April
2019 and a placement for cash of new shares in May 2019 resulting in an inflow
after fees of GBP180,000.

Subsequent to the period end, on 24 August 2020 the Company made a private
placing of 12,500,000 new ordinary shares at 1.6 pence per share, to raise a
total of GBP200,000 gross, together with 12,500,000 warrants with a term of 12
months to subscribe for new ordinary shares at an exercise price of 1.8p per
share that if exercised could raise an additional GBP225,000. This will be used
for work on the Parys Mountain project, as well as for general corporate


Not much money in the kitty. New placing is coming....

[hyper al] 18/11/2020 09:31

Green (electric) economy will need copper.

[wassapper] 18/11/2020 09:25

Bit of a breakout and high volume

[benjamin15] 18/11/2020 09:14

Fairplay sailed through 2.6-2.7 I stand corrected

[gimmetheloot] 17/11/2020 15:10

The directors know that metal prices are buzzing and we have a monster resource in th UK in Canada and Sweden. Now it’s time to exploit the metals we have and monetise the asset.

[benjamin15] 17/11/2020 14:18

Well we are treading water today, know we have news but not sure it will blast off, this share has a habit of losing its gains on good news...

[gimmetheloot] 17/11/2020 08:51

Benjamin not at all. We are expecting 2 big news announcements. Our resource just in Wales is going past the billion mark.

[benjamin15] 17/11/2020 08:30

Gimmetheloot
Think we got resistance at 2.6-2.7 used to always bounce off that...

[gimmetheloot] 17/11/2020 08:24

2,35 to buy in limited quantities. We have broken 2.2 which was resistance. This is heading 3-4p by the end of this week.

[pistolpete100] 17/11/2020 08:23

Maybe briefly but not for long...

[benjamin15] 17/11/2020 08:08

Back to 2p it is then

[pistolpete100] 16/11/2020 15:57

Agreed - may get stuck here for couple of days but really can't see the share price failing to break over coming days

[wassapper] 16/11/2020 15:39

Sort of hitting that resistance pete

[pistolpete100] 16/11/2020 13:48

Quite agree loot - looks like this is now hitting people's radars...

[gimmetheloot] 16/11/2020 12:02

I think 3-4p before news and we will see north of 10p on news That’s still only £15m market cap considering we have potentially £1billion worth of metal in the UK. That’s excluding the iron ore in Labrador and Sweden.

The report will confirm how much metal we have and it’s certainly not £200M worth.

We have a mining licence and it’s the worlds oldest copper mine.