Anglesey Mining Share Discussion Threads

[trader536] 29/6/2021 06:27

If I were you I’d sell out, nobody is forcing you to hold.

[kooba] 29/6/2021 06:22

Trader you could look at it over 10 years and tell us how well they are doing if you like! Seem to remember you saying how you had just bought more at higher levels only weeks ago ,a few M now wasn't it ? Didn't mention you had taken stock off the table to protect your downside.Whatever your position its up to you but your total defence of the board on an absolute basis is really quite remarkable. As pointed out the sector generally has had huge moves on the back of resources and most of those companies have also made material progress in their business not just talked the same BS. Hope this bunch of veterans prove me wrong and pull a rabbit out of the hat , which i hope would be an outright sale. If they did manage to raise some money to advance the mine i would have no confidence in them not taking another 10 years to production and totally miss a huge cycle.

[klondykejohn] 28/6/2021 21:05

Oh ye with a crystal ball Trader536.
So it doubled in price then fell back again.
Shows that this is a company that isn`t going anywhere .
Now lets take PXC.
Beginning of last year,sp was 2p. closing price today was over 47p
Now that is profit.
To make a decent profit on AYM, one would have had to buy a lot of shares.
Was the risk worth taking trader.
Unless you had some insider info. You are either a very foolish person or very astute.

[trader536] 28/6/2021 17:54

400% up, 50% down = a 200% net profit!

[trader536] 28/6/2021 17:49

I did, but did you not take profit on the huge 400% rise to cover any fallbacks?

[benjamin15] 28/6/2021 17:35

Trader
I did but did you not see it half in the last few months?

[trader536] 28/6/2021 17:11

Did you not see the share price double over the last 12 months?

[benjamin15] 28/6/2021 14:33

No news ain't doing the share price any favours...

[klondykejohn] 27/6/2021 08:26

Trader536.
Apart from 1 blip in September 2020 where the MM`s tried to bulk up the price and failed, PXC has seen a steady climb from its lows of less than 5p to its` current valuation of 46p. This is even after a massive share creation in April of this year of an additional 50m shares to fund 1st stage production at its` Empire pit.
Investors have given PXC the green light and the company is now sitting on £20m
and has a massive drilling programme in place which is soon to be completed.
Does this look like a volatile company when it is sitting in the safest mining investment country of the world and has proven assets of over £1.5b with more possibly to come.
Mining isn`t about buy today and reap the rewards the same day trader536.
It takes years of drilling, analyzing, and sheer hard work to get a mine into production.
PXC has been analysed by many outside groups. Hardiman, share price Angel, Blytheweigh, MOS ( they tipped this share last year) etc. etc.
Everyone of these influencers are extremely positive.
As for AYM. Well, I cannot remember the last time that an independent organisation ran the rule over them.
I see a flat line at AYM going back for a long time...
No activity, no news and not dynamic enough to even raise an eyebrow with independent analysts.

[kooba] 27/6/2021 08:20

Ha slightly different situations but becoming a corporate governance vigilante these days !!

[kooba] 27/6/2021 08:14

Anglesey is not AiM where there is some other mostly toothless regulation however having a nomad as a first line of scrutiny i am positive the situation on corporate governance here would not have been allowed to develop and persist if it was AiM listed .The very cosy relationship between directors over an very extended period overlapping two boards and no new director appointed for 13 years is absolutely unheard of in listed shares.The fact a number of directors including the chair who has been on the board since 1994 also holds zero shares is another situation you will find no where else. Tax position or no tax position its a unique situation...unless anyone can show me different.

[klondykejohn] 27/6/2021 07:52

I hope you took time to read the UK corporate Governance code trader536.
I do not know if there is a watchdog of any sorts for Aim listed companies, but if AYM was externally audited, then I am afraid that they would fail on many parts of the code.
Perhaps you would like to give a quick assessment of performance viz-a-viz the code.
I have and sadly, the board fail miserably.

[klondykejohn] 27/6/2021 07:52

I hope you took time to read the UK corporate Governance code trader536.
I do not know if there is a watchdog of any sorts for Aim listed companies, but if AYM was externally audited, then I am afraid that they would fail on many parts of the code.
Perhaps you would like to give a quick assessment of performance viz-a-viz the code.
I have and sadly, the board fail miserably.

[linz22] 27/6/2021 06:55

As fascinating as it might be intriguing - especially as per the contrast in its applicability to the respective boards of AYM and HUR...

Thanks, Koobs.

[kooba] 27/6/2021 06:30

More information here..the essential level of independence in NEDs and qualification is interesting. They have no independence on the board all have served over 13 years.https://www.frc.org.uk/getattachment/ca7e94c4-b9a9-49e2-a824-ad76a322873c/UK-Corporate-Governance-Code-April-2016.pdf

[kooba] 27/6/2021 06:11

The UK Corporate Governance Code (July 2018 edition)The UK Corporate Governance Code is not especially long and is easy to understand. All readers of this factsheet are encouraged to download a copy of the full Code from the FRC website.Download UK Corporate Governance CodeThe Code comprises a series of key Principles each served by a sub-series of Provisions. The Provisions are the practical steps required to adhere to the Principles.The Principles concern the following areas of board activity:Board leadership and company purposeDivision of board responsibilitiesComposition, succession and evaluationAudit, risk and internal controlRemunerationThe Code uses clear and exact language - It makes sense to quote the Principles as written, with due acknowledgement to the Financial Reporting Council.Principles for board leadership and company purposeA. A successful company is led by an effective and entrepreneurial board, whose role is to promote the long-term sustainable success of the company, generating value for shareholders and contributing to wider society.B. The board should establish the company's purpose, values and strategy, and satisfy itself that these and its culture are aligned. All directors must act with integrity, lead by example and promote the desired culture.C. The board should ensure that the necessary resources are in place for the company to meet its objectives and measure performance against them. The board should also establish a framework of prudent and effective controls, which enable risk to be assessed and managed.D. In order for the company to meet its responsibilities to shareholders and stakeholders, the board should ensure effective engagement with, and encourage participation from, these parties.E. The board should ensure that workforce policies and practices are consistent with the company's values and support its long-term sustainable success. The workforce should be able to raise any matters of concern.Principles for the division of board responsibilitiesF. The chair leads the board and is responsible for its overall effectiveness in directing the company. They should demonstrate objective judgement throughout their tenure and promote a culture of openness and debate. In addition, the chair facilitates constructive board relations and the effective contribution of all non-executive directors, and ensures that directors receive accurate, timely and clear information.G. The board should include an appropriate combination of executive and non-executive (and, in particular, independent non-executive) directors, such that no one individual or small group of individuals dominates the board's decision-making. There should be a clear division of responsibilities between the leadership of the board and the executive leadership of the company's business.H. Non-executive directors should have sufficient time to meet their board responsibilities. They should provide constructive challenge, strategic guidance, offer specialist advice and hold management to account.I. The board, supported by the company secretary, should ensure that it has the policies, processes, information, time and resources it needs in order to function effectively and efficiently.Principles for composition, evaluation and successionJ. Appointments to the board should be subject to a formal, rigorous and transparent procedure, and an effective succession plan should be maintained for board and senior management. Both appointments and succession plans should be based on merit and objective criteria and, within this context, should promote diversity of gender, social and ethnic backgrounds, cognitive and personal strengths.K. The board and its committees should have a combination of skills, experience and knowledge. Consideration should be given to the length of service of the board as a whole and membership regularly refreshed.L. Annual evaluation of the board should consider its composition, diversity and how effectively members work together to achieve objectives. Individual evaluation should demonstrate whether each director continues to contribute effectively.Principles for audit, risk and internal controlM. The board should establish formal and transparent policies and procedures to ensure the independence and effectiveness of internal and external audit functions and satisfy itself on the integrity of financial and narrative statements.N. The board should present a fair, balanced and understandable assessment of the company's position and prospects.O. The board should establish procedures to manage risk, oversee the internal control framework, and determine the nature and extent of the principal risks the company is willing to take in order to achieve its long-term strategic objectives.Principles for remunerationP. Remuneration policies and practices should be designed to support strategy and promote long-term sustainable success. Executive remuneration should be aligned to company purpose and values, and be clearly linked to the successful delivery of the company's long-term strategy.Q. A formal and transparent procedure for developing policy on executive remuneration and determining director and senior management remuneration should be established. No director should be involved in deciding their own remuneration outcome.R. Directors should exercise independent judgement and discretion when authorising remuneration outcomes, taking account of company and individual performance, and wider circumstances.

[trader536] 26/6/2021 21:26

"the first thing i do when looking at a company i rather expect boards of listed companies to have some sort of nod to the code"

Its most definitely not the first thing I look for, can you explain this 'nod to the code' phenomenon? I'm intrigued.

[trader536] 26/6/2021 21:10

Instead of crying for news like a baby, I suggest you sell and look for opportunities else where.

[kooba] 26/6/2021 17:52

And how the hell do you know they are working hard and making any progress...when they don't update shareholders unless they need to raise funds?The fact is if they had made any genuine progress it would be deemed price sensitive and have to be announced without delay..they are nowhere imo.

[trader536] 26/6/2021 16:42

"lack of motivation to move things forward"

How do you know they're not beavering away behind the scenes?

October 2019 to March 2020 PXC fell 66%! Investors who bought in October 2019 waited almost a year just to break even, and investors who bought PXC in September last year are still sitting on losses.

AYM released the PEA only 5 months ago, have some patience.

Compare the PXC and AYM charts and ask yourself which is the more volatile and which has the highest probability of multi-bagging first from current levels.....

PXC.....




AYM.....

[klondykejohn] 26/6/2021 15:37

Trader536, if you mean agewise of the directors then they are similar to PXC board, and they are truly proactive.
My reason for buying was because AYM put out a positive report when Micon did the spadework.
I also monitored PXC for a good while and am now sitting pretty on a healthy profit, with a lot more to come.
It just shows what can be achieved.
Presuming you have invested in AYM, you must also have done your homework and surely you must be disappointed in the boards` lack of motivation to move things forward.
Many shareholders must wonder what on earth is going on.

[trader536] 26/6/2021 13:42

Did you not research who the directors were before you bought?

[kooba] 26/6/2021 12:29

Unlike LIM which has a young thrusting boardhttps://www.marketscreener.com/quote/stock/LABRADOR-IRON-MINES-HOLDI-6133360/company/

[klondykejohn] 26/6/2021 08:17

On that , I am in complete agreement.
We just need a dynamic board to take this further.
We really should be motoring ahead now, but I for one do not understand why we did not follow the Micon recommendation of further drilling to confirm all the assetts.
This small cost would have been money well spent and drilling would have been completed by now with possibly, results being imminent.
This just shows to me that this boardd is not fit for purpose and should consider resigning.
Venture capitalists would have seen through this lot a long time ago and would have acted.
Pity they do not own shares here.