Anglesey Mining Share Discussion Threads

[noccer] 21/7/2021 18:06

Hi Al,

Labrador Iron Mines Holdings is traded in the OTC market as LBRMF (20 US cents last time I looked). They may go back to a proper TSX listing if they can find a way to exploit the Houston deposit. SMI is a wholly owned subsidiary arranged to operate in the state of Quebec, so don't worry about that.

Their annual report was posted on SEDAR in June, and it seems they are attempting to get things in place to try for construction financing in 2022. So far this has not done much for the share price.

"LIM plans to further advance development of the Houston Project through a number of near term initiatives, as follows.

(i) Complete metallurgical test work of drill core collected from the Houston Project in a 2013 bulk sample, which is currently in storage. Results of the test work will be used to refine the product specifications and process flowsheet assumed in the PEA. Among other things, this analysis will yield important product characterization information which could be helpful in marketing the product.

(ii) Complete a trade-off study on use of LIM’s Redmond property rail right-of-way for the Houston Project’s rail loading operations. Although a longer truck haul is required (approximately 1.5 km greater), the Redmond property rail right-of-way was formerly used for loading iron ore trains (by IOC) and includes an existing rail bed with a rail loop at the end to turnaround, versus the current proposed Houston rail siding operation, which requires the train to be split multiple times.

(iii) Update the surface water management plan for the mine site based on the proposed localized handling and treatment of surface contact water.

(iv) Reactivate all necessary regulatory permits and approvals for construction.

(v) Continue engagement with adjacent First Nations communities.

(vi) Advance commercial negotiations with construction contractors, equipment vendors, rail, port and logistics counterparties.

(vii) Further refine the environmental and health and safety plans.

(viii) Further develop the human resources and recruitment plans.

(ix) Complete an off-take contract, including construction financing and product

sale components."

There's a lot to be done before they cam move a single ton of iron ore. But maybe there will be a chance to flog the AYM share to someone before then.

Steve

[hyper al] 21/7/2021 17:12

Noccar

Concerning Labrador, look at what AYM have shares in. It's 'Labrador Iron Mines Holdings Limited'(is that LIMH?) and AYM have a 12% stake. see

Now look at "LIMH holds approximately 52% of the shares of LIM" In addition this link states

"Schefferville Mines Inc.
SMI is a wholly-owned subsidiary of LIM. SMI holds all of the group's mineral properties and assets in the Province of Quebec."

[calmtrader] 21/7/2021 14:56

A few buyers around!!

[noccer] 21/7/2021 14:26

With record high iron ore prices, if AYM's interest in Grangesberg and Labrador is worth anything at all, then its about time to extract some value. Maybe they are actually worth nothing.

The FT made a case for sustained high iron ore prices, saying miners were struggling to boost output, plus Port Hedland is to go through 3 months maintenance.
Vale having issues restarting several iron ore projects.
Anglo American are trimming their output expectations due to weather and rail transport issues.

[shill10] 21/7/2021 13:33

spot on kermat

[kermat] 21/7/2021 13:02

The price won't rise until the board have arranged their next batch of options. Then expect the news to come in.

[klondykejohn] 21/7/2021 09:58

more like a nightmare

[wandano1] 20/7/2021 16:25

Dream along with me.

[jbennett] 20/7/2021 12:39

Much needed sector rebound. But you can always rely on good old AYM to buck the trend.

[danmart2] 16/7/2021 22:11

Welsh assembly and assembly members will happily reply to emails about Parys mountain and it’s potential including their support for the project.
The only thing lacking is some initiative from the board of directors.

[broken_arrow1] 16/7/2021 08:50

Something seems to be going on in the background, this is well above normal market size but IG want 5p a share on 550,000 shares, a few £3k buys and this is where the stock is heading.

No wonder the share price chart has a number of outstanding spikes on it, when will the next one occur?

[space_dust] 15/7/2021 09:40

Would add to the mix, if Conroy Gold can attract a $1b+ valued JV partner in Ireland I am sure Anglesey can do similar.

[space_dust] 15/7/2021 09:38

It is a nigh certainty that AYM will never develop the mine themselves, it seems to me the plan is to prove the resource and economics and sell the project on to deliver material value for shareholders. Much of this work is now complete.

As for getting approval, certain permissions seem to be in place according to historic posts on this thread, money talks and so does job creation.

I think the next update will be a interesting one, pressure is building on the BOD to deliver, the conditions are now right for deals as copper is in, and will continue to be in, high demand.

[bigbigdave] 15/7/2021 08:08

I live on Anglesey 6 months of the year and often walk my dog around the old opencast copper mine, it is a remarkable place.
The thing that always strikes me about AYM is the amount of infrastructure which would be necessary to ensure a functioning mine, the existing roads are just not up to it, most of them country lanes. Millions would need to be spent and I'm not convinced planners would authorise it. Don't think its in an Area of outstanding natural beauty but not far off it.

Just an observation not a deramp.

[kooba] 14/7/2021 09:41

I personally believe the assets are good , but unfortunately there is so little truly independent scrutiny it is taking a lot on trust, and trust is wearing extremely thin. There are no independent directors or data as far as i can see.I also am somewhat weary that the industry must be aware of the prospect and the potential size of the development with planning in place ,with good infrastructure in place and a politically stable location ..why has nobody taken them out ? Or approached them , maybe they have but there is zero evidence of industry interest save for an Australian bid for the Parys asset over a decade ago which did not proceed.The Chair here has been involved in a large number of mining situations and without looking at all of them much of the history is similar to here, assets , surveying, raising small money keeping them going but there doesn't seem to be much success in actually progressing anything to be a successful producer ,obviously LIM was briefly profitable but any value accrued was lost very quickly ..our holding now been diluted considerably but not by any share sales...so it has not added any value to Anglesey.The ability of this board to effectively progress Parys is seriously in doubt ..they talk a game plan but have evidenced no ability over many years of actually doing anything but small fundraisers to keep the lights on.

[grimreaper2019] 14/7/2021 08:38

I see a number of shareholders have started contacting the company directly expressing their frustrations.

Market observers may notice how shareholder action groups and minority stakeholders have been successful in creating change, one group actually thwarted 2 multi millionaire investors and 65% stakeholders in one mining company.

I have a feeling that this pressure may produce some results therefore.

Is Anglesey a decent investment proposition, I rarely comment on such matters these days but the current valuation of this company is a pure reflection of apathy and sentiment, both the aforementioned can change in a flash, so maybe yes is the answer.

[calmtrader] 14/7/2021 08:34

I have a feeling a knock out update is incoming!!

[klondykejohn] 13/7/2021 17:36

34 years is indeed a very long time.
Action on the part of the board has been very limited and they should review their own positions as to whether they can take this project to fruition.
If not, then they should gracefully resign and allow some more dynamic people to complete the task ahead.
Over to you BoD.

[iglenn] 13/7/2021 15:50

Very forgiving of you John. I confess my irritation is reaching levels now where I intend to do something about it. Trade has also gone very quiet which means he either concurs or is connected with this bud ça. 34 years without developing this is farcical. And now the questions will start. Enough.

[klondykejohn] 13/7/2021 08:22

People tend to give us their truthful thoughts when they are a little bit tipsy.
I bet that if we shareholders had joined you Iglenn in drinking the cooking sherry, we might also voice similar opinions about this company and it`s board.
Very sad that we have to think this way, but silence from the board isn`t golden, it is rank stupidity on their part.
Disillusionment will only increase until they speak up.

[kooba] 13/7/2021 08:13

The new UK Corporate Governance Code, however, states that the chair should not serve on the board for over nine years.

[iglenn] 13/7/2021 08:09

Apologies board. I was on the cooking Sherry yesterday.

[kooba] 13/7/2021 07:53

Article from 2004..interesting reading in itselfAs the company announced its annual results yesterday chairman John Kearney noted that the outlook for the mineral and exploration industry had "greatly improved" with metal prices increasing "significantly".https://www.walesonline.co.uk/business/business-news/mining-hope-for-anglesey-2434948

[kooba] 13/7/2021 07:28

From the codeThechairshouldnotremaininpostbeyondnineyearsfromthedateof their first appointment to the board. To facilitate effective succession planning and the development of a diverse board, this period can be extended for a limited time, particularly in those cases where the chair was an existing non-executive director on appointment. A clear explanation should be provided.So Kearney joined the board in 1994..he is chairman in 2021..27 years later! And he holds not a single share!Can't see exact date he became chair ..must be out there somewhere but he was chair for 2016 report and accounts.

[kooba] 13/7/2021 07:02

Anglesey Senior "INDEPENDENT" non executive has been on the board for 20 years..this is against the qualifying status under uk corporate governance code...by 11 years! He has also served on another board with the chair in the past.The independence of the rest of the board is without doubt non independent including the Chair who has multiple cross directorships, has been on the board since 1994 and is an executive of a company that is material to Anglesey's assets.Couldn't get less independent.There is nobody who is aligned to shareholders they are aligned to each other as they are a tight group for over 13 years.This is a situation that the whole point of corporate governance code tries to avoid as there is no independent scrutiny to the activities of the executives and no effective challenge to their performance. The whole set up seems extraordinarily conflicted.The number of other roles held by the Chair (see yesterday link ) also questions the ability to act effectively in the role as Chair here.