Anglesey Mining Share Discussion Threads

[j5thumbs] 27/7/2022 18:00

Spacedust, no-one can know at what point the share price will start shifting, but once it does ... Never forget the old adage - "The stock market is a mechanism designed to transfer wealth from the impatient to the patient". :O)

[borisjohnsonshair] 27/7/2022 17:13

Hi TraderMoron - another one of your winners!!!! Laughing at you!!!

[spacedust] 27/7/2022 08:27

Not the share price ..no one is driving the share price forward. That's the only thing that mstters

[spacedust] 27/7/2022 08:26

Rns out. .....no one gives a shtttt

[calmtrader] 27/7/2022 07:14

Jo driving this forward

[bigbigdave] 27/7/2022 07:06

AIM: AYM

27th July 2022

Anglesey Mining plc

(“AngleseyR21; or “the Company”)

Parys Mountain Tailings Management System Work Commences

Anglesey Mining plc (AIM:AYM), the UK minerals development company, is pleased to announce the engagement of Knight Piésold to commence both the design stage for the Tailings Management System at Parys Mountain and the geotechnical assessment of the underground development.

The initial Tailings Scoping Study will comprise a high-level assessment for the Parys Mountain Tailings Management System (TMS).
Extensive pre-existing site data will be assessed including existing hydrogeological, geochemical, geotechnical, geological, and mining information.
Following the data review and recent site visit by engineers from Knight Piésold, storage methods to be considered will include filtered stacking (dry stack) and conventional.
The subsequent stages will include an evaluation of the preferred storage method followed by a detailed Feasibility Study.
On the geotechnical front, Knight Piésold has also commenced the logging of the recently drilled and orientated core and analysis of the data (including digitally collected acoustic televiewer information) to assist with rock mass characterisation and development of a basic ground-support model.

[ged5] 23/7/2022 11:32

I'm not sure anything has been straightforward in the past with this company. Even those figures on the website are slightly different to those on page 16 of the March presentation.

There are slight anomalies throughout the history of announcements about Grangesberg but yes there is the right of first refusal for up to 70%. That is at least where we're up to so far.

For reference here are when the changes were announced:-

May 2014 6% option to acquire 51%
January 2019 8.7% option to acquire a further 50.1%
September 2019 10% with right of first refusal to increase to 60.2%
March 2020 see note 24 10% with right of first refusal to June 2021 to acquire further 50.1%
December 2020 20% holding with right of first refusal on a further 50%
References in January 2021 with slight differences
September 2021 first reference to right of first refusal upto 2023.
The latest announcement is November 2021 referenced in post 199 which is the same as the March presentation.

There are a few references to costs in the RNS announcements mentioned above.

The £316k for 19.9% gives a value of about £1.5m or 750k for the 50.1%

Not sure if I find any value of the above. I was just bored yesterday.

From doing this I noticed some carelessness in past announcements with different figures given in the same announcements.
I only identified one director from AYM on the GIAB board.
There is no email contact for AYM

The important inflection point for me will be the financing options which will hopefully bring a surge in the share price
Off to my daughter's graduation party. Have a good weekend.

[kooba] 22/7/2022 19:58

It's straight forward on the company's own website. There are now no defined terms to increase holding, currently it is on the basis of right of first refusal. Simple if f someone offered £20m for the 50.1% then we could match it. However terms could be renegotiated to restructure holdings before such a situation. The original deal lapsed and has no bearing.https://www.angleseymining.co.uk/grangesberg/

[ged5] 22/7/2022 14:06

Going through announcements from 2014 it seems AYM quietly (no direct RNS) acquired ownership rights in 19.9% of GIAB with the right for a further 50.1% with an expiry date of June 2023.

"The group has, through its Swedish subsidiary Angmag AB, a 19.9% ownership interest (31 March 21 – 19.9%) in Grangesberg Iron AB (GIAB - an unquoted Swedish company) which holds rights over the Grangesberg iron ore deposits.
The directors assessed the fair value of the investment in GIAB under IFRS 9 and consider the cost at the date of transition and the investment’s value at the period end to approximate the fair value at these dates. Following negotiation the group has, until June 2023, a right of first refusal over a further 50.1% of the equity of GIAB together with management direction of the activities of GIAB, subject to certain restrictions. Although the group has significant influence over certain relevant activities of GIAB, equity accounting has not been applied in respect of this influence as the directors consider this would not have any material affect. The group’s share in the net assets of GIAB at 31 March 2021 was approximately £316,000. There are no accounts on which to base an equivalent figure for 30 September 2021 but in the opinion of the directors it is unlikely to be significantly different from the value at 31 March 2021."

Note 10 in this RNS:-

[borisjohnsonshair] 22/7/2022 12:30

My model suggests short to 1p.

[plat hunter] 22/7/2022 12:10

Option to aquire is the buyers option to buy.First refusal is the sellers option to sell. Could not be more different.

[kennyp52] 22/7/2022 08:51

Trader465 on the other board…

“Yes that’s correct, the option to acquire expired on 30th June 2015 but was replaced with an option of first refusal. Same thing just worded differently.”

No it’s not … first refusal is “if we want to sell and you haven’t got the money or cannot meet the price then you’re done .. we sell to someone else who has got the cash”

What an idiot

[spacedust] 21/7/2022 21:32

Which is bad enough

[trader465] 21/7/2022 18:57

As we say in Thailand “same same but different”

[trader465] 21/7/2022 18:56

Yes that’s correct, the option to acquire expired on 30th June 2015 but was replaced with a right of first refusal. Same thing just worded differently.


“In May 2014 Anglesey announced that it had entered into agreements giving it
the right to acquire a controlling interest in the Grangesberg Iron project in
central Sweden including a direct 6% interest in GIAB and an option exercisable
until 30th June 2015 to acquire an additional 51% in GIAB”



And then….

“However the ever more depressed iron ore market forced us to the conclusion that we
should not exercise the option over a 51% interest which has now been replaced
with a right of first refusal over that interest”

[calmtrader] 21/7/2022 18:35

But I do think the option expired

[calmtrader] 21/7/2022 17:50

Good find...bargain of the century

[trader465] 21/7/2022 17:35

Based on the above we could be looking at around 20% dilution at the current price. But obviously we don’t know what the plan is yet, and no doubt the recently recruited mine financing team are far more knowledge than us and will be investigating many options.

[trader465] 21/7/2022 17:18

Reading down a bit further in the same RNS link above….

“Option to acquire 51% of Grangesberg

Upon the exercise of the option, which will be entirely at Anglesey's
discretion, Anglesey will acquire all of the shares of Eurang Limited by the
issue of new shares of Anglesey to the value of $1.75 million”

[trader465] 21/7/2022 17:13

Calmtrader - AYM paid $145k for 6% of Grangersberg. Based on this, each 1% cost us $24,166, so a 50% share would cost around $1.2m


“In a series of agreements Anglesey has purchased for US$145,000 a direct 6%
interest in Grangesberg Iron AB ("GIAB")”