In the not too distant future. the West is going to be crying out for metals. even basic ones, like Iron . That's without all the other. If we can get them after upsetting the rest of the world,:) :) |
That's a VERY bullish presumption, Pigeons; VERY BULLISH indeed. Are you by any chance part of the PR/IR team who want to get paid?? So, essentially a £100 million company!! How about 6p/share ?? |
Good morning. I think if you look at Anglesey mining, as a company from an asset point of view, I'd be very surprised if. somebody in the near future, doesn't possibly pay £0.20 a share. to get hold of the company's assets. |
Hmmm .. rumours eh ? Let’s get the price up a bit for next placing more like ? |
Very interesting |
 Interesting post on LSE concerning LIM (AYM hold 12%) suggesting the company may be up for sale delivering a possible value event for AYM
AYM share price seems to be moving up again.......
I may be going out on LIM here, but my guess is this project and probably the whole company is up for sale. If it is those who are well researched will know what the potential value is to AYM.
There are various mid tier Iron Ore miners who would love a high grade project with significant optionailty to expand the resource adjacent to rail infrastructure and with that rail infractructure leading directly to a port all in Tier 1 location. Houston is just that and has a low capex requirement as it is a direct shipping ore project.
Catbert's open market valuation of the Houston project (do your own calculations and don't trust mine) is north of $250m Elizabeth would cost more to develop but again I would add at least $100m if that went too. There are a number of players wishing to pivot out of lower graded projects. If LIM is sold we're in for a windfall with our 12% stake.
Houston has a very good IRR and is based off a $90 per ton as a price benchmark.
I wonder if this is what is referenced in the latest RNS. This would easily get us the funds to expand the drilling and resource at Parys and get us through to a DFS without the need to raise. IMHO. All pure guesswork on my part so DYOR. |
Some of the comments on here make we want to eat the dogs dinner! If the price went to 1.45p on the back of significant volume then why do the last placing at a measly 1p ?!! Get rid of the bucket shop brokers and get a crowd in who understand and see the upside/potential future value; that would be a good start. All this hype about big buyers, big volume …. Get a grip! |
Volume has been a trickle since the fundraise but all of a sudden the offer has strengthened and there is very little stock on the book.
The last run up in price took the bid to 1.45p, a few larger buys have started to appear also.
60m were traded in just 6 weeks before the raise, 3 times normal volume, what was behind that ?? |
Good morning, my own opinion is they've had nearly 40 years to set up all. sorts of recreation infrastructure. even small industrials, estates, and anything that can produce an income. while the directors play at trying to open the mine up. it's possibly time that They get people in. to run AYM. or shut the whole thing down until there's a serious bidder stroke company to run. this company as there is so much available to everybody. all seems to be going to a few directors that That unfortunately. appear to be Fleecing. the company. If this is not the case why the directors not keeping the shareholders informed, |
kennyp52; unfortunately building any kind of resource is going to involve drilling to give that 3-dimensional 'picture'. Where you locate (collar) drillholes can minimise missing expected targets and this is where good quality and experienced people are required. The drilling at Parys Mt has been good and it has been interpreted well; the only issue from my point of view, is the large lapses in time between different phases of drilling. I recall when drilling was first done under the AYM banner in the late 1980's and here we are today, more than 35 years on, and still don't have a very clear picture.
Some proactive news wouldn't go amiss too !! |
Aren't we due a resource update? |
buttyboy .. good post .. but you prove my point .. AYM have not got enough data / trust in their forecasts and will therefore have to trundle on paying for more and more .. what could end up .. meaningless drilling but in the meantime the director gets paid and the shareholders will be asked to stump up capital . Take a look at the number of shares in issue . This has all the signs of an utter scam . Take that from someone that invested in GRL ; Sirius Minerals ; Bushveld ( sold out at small loss when I could see the signs ) . You have to take some losses on AIM but try to avoid them with a bit of common sense ! |
kennyp52; there is a caveat here regarding the term 'resources'. Any resource, irrespective of their category, has not been economically proven to be viable; if so, the term becomes a 'reserve'. The ascending difference between an inferred, indicated and measured resource is the probability of it being there, i.e. there is an increased likelihood of both grade and tonnage with a measured resource than with an indicated and more so with an inferred resource.
It's important to build a significant resource base with more resources in the measured category to determine if Parys Mt is likely to be viable. If you rely too much on inferred resources then there is no obvious statistical correlation between any two data points (too far apart). The only way to increase the resource category is to infill drill to make these data points closer together. How close these data points need to be is also determined by the type of mineral deposit.
So, more drilling is required (all in cost approx £200/meter) to give this increased confidence and this data will be the crux of the envisaged PFS. Until this happens then it is unlikely the company will attract non-dilutive financing, so expect more fund raisings as time goes by. |
Resources CAN have a value if in sufficient quantities to make it economically viable to build a mine / plant / labour to extract it . Otherwise it is just the jam to suck a few more shareholders in . |
I am not going over old ground except in saying the LATEST resource statement from Parys Mountain clearly shows 86,000oz of gold.
I would like to ask do you want to see the share price go lower or higher, your posting trend appears you want it lower.
Remember this, the sector has had the worst 3 years in decades, many stocks are down 90% or even more, at some point there will be a recovery, market makers seem reluctant to sell sizeable lines of stock in many of these companies over recent times, are things about to turn up one wonders. |
Buttyboy : Thanks for your explanation. Yes, I suspect that you’re right … that the copper and zinc are more likely to be of importance if Parys et al ever does get off the ground.
MiningLamp. : I was quoting Bill Hooley’s statement from 11.1.2021. “Parys Mountain has the potential to be developed as a serious mining project producing … 6,000 kg of silver and 160 kg of gold”. Bill Hooley.
These statements were lifted from official AYM press releases. My calculator tells me that 160kg of gold is roughly 5100 Troy oz. Or did Bill Hooley get his figures wrong |
It is disappointing that management never make themselves available via presentation evenings or even online forums like Investor Meet where shareholders are able to challenge them.
The new CEO seems to lack communication skills and the ability to excite investors, the only time this company promotes it's wares is through Alan 'take the money' Green.
Was the company wise to acquire a further stake in Grangesberg circa 18 months ago for example, so far it appears not, why not ?
It is also disappointing they continually resort to bucket shop broker placings when surely what is needed is some other funding route, it does look like they are trying alternative routes now but why has it taken so long ?
There are more questions than answers here HOWEVER one piece of material news and the shares will fly higher that is what long suffering shareholder are hoping for. |
Resource is irrelevant if you do not mine it . How much capital do they need and what is the PEA ? Dear me .. talk about being gullible |
Here are the true numbers for the resource, 86,000oz of gold from Parys Mountain not 5144oz as you imply. |
j5thumbs; I have not looked at the past stats regarding contained or estimated recoverable metals but essentially the Parys Mt polymetallic deposit is a Cu-Pb-Zn assemblage with associated gold and silver. The recoverable amounts of Au and Ag are going to be minimum at the expense of the three base metals (Cu-Pb-Zn). I am guessing the recoverable Au and Ag has been downgraded at the expense of the base metals. Much will depend on the metallurgical circuitry and this realistically will not be known until at least the PFS is complete (IMHO, the next important milestone). Economics (metal prices) will also come into the equation but the minute quantities of both Au and Ag are negligible and the attempt to recover these will negate the crux of the economics, i.e. the Cu, Pb and Zn. |
Been trying to get my head around the estimated gold and silver deposits in Parys Mountain.
Unfortunately, the estimated amount of gold in dropped from 60,000 troy oz. to 5144 troy oz. between 2003 and 2021. That’s a 91% drop. Silver estimates were even worse … they dropped from 8,000,000 troy oz. to just 193,000 troy oz., which is a 98% drop.
Can anyone explain the dramatic downward revisions over that period? Have I missed something blindingly obvious?
Hopefully, the copper and zinc deposits in the ground aren’t shrinking at the same rate … |
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