Anglesey Mining Share Discussion Threads

[kooba] 08/9/2021 07:44

Rather confused at the dissemination of information here..how many results statements are we getting. Good to hear Jo has a voice but it seems they put the report and accounts on screen before the results statement..very odd.Nothing really new here tbh most has been covered in previous rns's , the march cash figure has now been announced 3 times.Oh well as posted yesterday not expecting much action till fund raise and options awards.

[no1larafan] 08/9/2021 07:27

Jo is certainly very excited to get the mine into operation asap, he's done more work in 6 weeks compared to 6 years with the old CEO! Onwards and upwards....

[smackeraim] 08/9/2021 07:19

Sounds like they have enough to get the ball rolling.

[smackeraim] 08/9/2021 07:19

At the end of March 2021, the group had cash resources of £892,000. Following a careful review of the financial resources currently available and considering the normal on-going costs of corporate and site operations, it has been decided that these three activities will be commenced forthwith, and as additional funding become available this programme will be accelerated.

[hyper al] 07/9/2021 08:10

kooba

Good post. That is the way I see things currently.

[kooba] 07/9/2021 06:13

Jo seems to have a good reputation and success in the companies he has been involved with. He would not have taken this role without significant due diligence on the assets and with a clear game plan on taking this forward too monetisation.I repeat i think it unlikely the real prospects he sees here will be wheeled out until a fundraise is done likely with his and mates participation to get the full feasibility study done , he will also be looking for a significant option award too…so unlikely to want the price to run away before that box ticked. He will already be well aware once feasibility study is complete (when??) what the options will be and that a farm in to a developer to fund the project leaving a decent free carry may well be a serious option. I remain concerned at the millstone that iron ore remains , noting intent at Sweden work to be done ..but overall i see no clear deliverable strategy to progress or monetise these assets..focus should be Parys.

[iglenn] 07/9/2021 03:39

What do people reckon about the possibilities of a farm in or JV.? I feel this may be the only way to get this moving to be honest...get someone in that actually wants to mine this as opposed to just live a nice retirement with your mates companies stringing the shareholders along with potentially misleading claims regarding resource in ground and just cashing in options every so often.

[hyper al] 06/9/2021 14:02

another decade maybe!

LOL

or could it be next week, time will tell.

[klondykejohn] 06/9/2021 14:00

Hope you are correct Hyper.
Only time will tell

[hyper al] 06/9/2021 13:55

With their QME connections, I would have thought getting a rig would be easier than for most.

[kooba] 06/9/2021 12:22

And we all know about that company dont weMINCOBoard of DirectorsJohn F. Kearney - Chairman & Director. ...Peter McParland - Chief Executive & Director. Mr. ...Danesh K. Varma - Director, Secretary & Chief Financial Officer. ...And a few othersMcParland is MD of a company called QME.https://www.mincoexploration.com/corporate/leadership/

[klondykejohn] 06/9/2021 10:11

As you say Hyper, bloody cold but can drill. Getting a rig will be difficult so there is still a high liklehood that we won`t be drilling in the winter months.
Different posers, but still same outcome. No drilling soon.

[iglenn] 06/9/2021 10:10

Hyper, not need to apologise bud, I'm happy to be corrected and especially by someone who knows what they are talking about.

[hyper al] 06/9/2021 09:37

Iglenn

Sorry mate, but I know what I am talking about, I worked as a geophysicist for 17 years in the UK including at drill sites. In fact I even logged holes at Parys Mt in the 1980's, it was bloody freezing at the time!

Geotechnical site works goes on ALL year in the UK. I know people in the industry. In fact there is so much work to be done, some rig owners wished they could operate 24/7 but noise pollution often puts a stop to this.

[hyper al] 06/9/2021 09:30

As an example of drilling in winter months at this latitude, Minco Exploration in County Meath, Ireland announced drilling startup on November 27 last year on Navan Prospecting Licence

If they can do it in Ireland, they can do it in Wales.

[kooba] 06/9/2021 09:10

Juno debt which is the largest part of this outstanding amount is rolling up at 10% a year and has been for years.It's actually Juno holding the power through debt and equity ..Kearney is connected to Danish Varma ( who represents Juno) through various interests outside Anglesey so does the new deputy chair. There are many conflicts of interest and no independence on the board still. We need board members acting in shareholder interests not directors interests.Agree your points KJohn ..the report and accounts are primarily an historic report that the new ceo was not responsible for so maybe excuse for no ceo statement in accounts. Can only hope there is an AGM presentation by new ceo to give better guidance on what the actual business model is and hopefully how we monetise the iron ore interests and make the company Parys focused.

[iglenn] 06/9/2021 07:29

Very valid post John. I think along the same lines as you to be honest and frustrations surface again. You raise a good point regarding winter so it would appear we will go nowhere now for at least another 6 months. These guys are unreal.

[klondykejohn] 04/9/2021 15:53

Kearney holds the strings and nothing will happen soon.
He is more interested in Labradore and yes, they keep stating we own 12%, but Lim only owns 50% of the site so in reality, we own 6%
Assuming debt of £4m and 6% interest then you need to add at least £240k each year of accrued debt.
He must get rid of ALL the old guard asap and allow a new board to implement what has been stated over and over again.
I agree that we need more funds to complete the drilling programme, but why has it taken so long to get to that conclusion.
We knew this back in January.
Assuming another couple of months to issue new shares to cover the cost, what price will they decide on? 6p, or 3.8p.
I don`t think the market will want 6p, so it is a bit of a catch 22 situation when the last 10m shares were issued at over 6p earlier this year,those holders are now in negative equity and as it is getting closer to the Winter months, will we drill over Winter?
Another year wasted. Sorry, but not good enough.
Get a proactive board in place and tell us in no uncertain terms what we will actually be doing in the next 6-12 months.

[hyper al] 03/9/2021 11:21

Noccer

That's an excellent post!

The very reason we need White Rock drilled asap.

[hyper al] 03/9/2021 11:19

Jo in Silver Mines as non-exec director

He has a nice project in Anglesey to make his mark in the mineral industry. I can't see him wasting that opportunity.

[noccer] 03/9/2021 11:11

Just thinking outloud ..

Having realised that the main value in the White Rock ore body is in Zinc and Lead I find common ground with Boliden who own the Tara lead/zinc mine in Ireland. QME are contracters to Boliden. Boliden took over Tara from a Finnish company in 2003 and at the same time acquired extra smelting capacity. With the surge in metals prices Boliden is making some handsome profits and in July 2021 they announced a $825million investment in their Odda zinc smelting plant to double its capacity over the next 2 years.

There are other companies working the lead-zinc deposits in Ireland, but Lisheen and Galmoy mines have now been worked out. At the Tara mine the disovery of the Tara Deep deposit at 1 to 2 km depth promises to extend the mine life until 2036 if estimates are correct.

There is no link I can see to AYM apart from both using QME, but here is a company mining, processing to concentrate, shipping it from Dublin to their own smelters in Finland and Sweden, and investing in expansion. There are others looking at Ireland, like Glencore at Pallas Green, Arkle Resources at Stonepark, but Boliden stands out for me.