Anglesey Mining Share Discussion Threads

[trader465] 08/9/2022 12:02

Link to the Western Metals announcement 10 April 2008

[trader465] 08/9/2022 10:44

I think he was referring to the western metals 2008 offer.

Western Metals later had a name change, I don’t know what happened to the men behind it, but Jo says in one of the interviews they were friends/colleagues of his, perhaps the same men would be interested in Parys again? We now have a larger resource and higher metal prices, so any future offer would need to be far higher than the previous £13m

[kooba] 08/9/2022 09:45

What Australian tie up..have i missed something?

[j5thumbs] 08/9/2022 09:30

Disappointing news about the Australian tie-up. Let's see if anything good comes out of Jo's trip down to Cornish Lithium's conference later this month. Seems like there are a lot of start-ups all chasing funding in difficult times.

[kooba] 08/9/2022 09:27

There is certainly a case for focus on Parys..although grangesberg's time has come it is a vast project and needs big financing from big players ..a sale reflecting the projects underlying value and the finance needed would get the Anglesey financed to accelerate Parys and have equity to put in to finance it's development. Little Anglesey can't juggle two large developments imo. I would keep LIM for now , mostly because you couldn't sell it but also valuation does not reflect the short term opportunity if the Directors of LIM can get it moving ( long shot ) but recent funding shows signs of life. We are merely shareholders there with no direct management responsibility to Anglesey. Iron ore has always been a diversion to the core 100% owned asset that is Parys , the company has full control to move it on for the best advantage of it's shareholders whether that is to full funding through jv's ,off takes , loan notes or royalty agreements ..or just as likely a corporate sale once the project has full feasibility study and is spade ready.Think industry valuations would be a big surprise relative to current market value.

[trader465] 08/9/2022 09:06

I think Jo may have a sideline in tea towel manufacturing? One wonders has he imported these tea towels from Australia?

Perhaps we should get him a company uniform ;-)




post a pic

[wisteria2] 08/9/2022 09:05

Sell Grangesberg assets and Canadian, then concentrate on Parys as the name suggests.
Anglesey mining! as they would certainly get a good slosh of dosh from the Welsh government. gla

[trader465] 08/9/2022 08:51

“Liquidity and volumes are low in AYM so it will not take much buying to move this back to where it has fallen from”

That’s not so, I thought the same thing, mop up all the sells under 4p, and I’m now sitting on 4m shares for my efforts

[mininglamp] 08/9/2022 08:18

The CEO has recently made references to how low the value placed on AYM's projects are compared to peers and today's update again suggests the company sees the valuation as too low, they make reference to the share price.

I am quite sure there are sophisticated investors such as boutique funds that may be looking towards the sector (it has been in demise 18 months) AYM seems to be a great opportunity at current levels.

Liquidity and volumes are low in AYM so it will not take much buying to move this back to where it has fallen from, it was around/above 4p since December 2020, hitting a high of 9p in Q1 2021.

The sector will recover, have started to see some comments that all the doom and gloom has been priced in so maybe a turn is sentiment is not far away.

[kooba] 08/9/2022 07:51

Well no surprises..anyone who follows the booked profit on LIM last time would know that came back down so hence asset value mark down..probably should have highlighted that is of course not a cash loss just a balance sheet mark down.Imo much value has been added this past year and with BFS in train and full up to date permitting on Parys in process then we move closer to get to talk the full economic viability and funding.Now the results out and directors clean would be good to see some share purchases from the new directors..always a sign of confidence. I'm sure Jo will be doing the media rounds. What he really needs and its a tall order is a find a couple of special sit funds to start dipping their toes in ahead of the next stage in the development process..it would not take much interest to mop up the stragglers..so hopefully with his corporate broking background he can get in front of some institutions,,in the context of security of supply and the potential green credentials may be that such projects get a better airing than a year ago.

[lodgeview] 08/9/2022 07:46

This will collapse today.

[iglenn] 08/9/2022 07:41

Kooba. I hear you. I will be sellling out in December.

[trader465] 08/9/2022 07:40

A timeline on the Grangersberg bankable feasibility study would have been nice.

[trader465] 08/9/2022 07:35

Sure the first line doesn’t make great reading, Jo could have polished or hidden this a little better….

“Comprehensive loss of £2.8m in the financial year ended 31 March 2022 compared to the prior year comprehensive profit of £3.7m”

On the positive side, I believe we have the first mention of “Bankable Feasibility Study” at Grangersberg….

“At the Grängesberg Iron Ore Project, the Company will be completing the next round of technical work on the resource and reserve estimates to enable the Bankable Feasibility Study to start”

[benjamin15] 08/9/2022 07:23

Bounce be coming soon...

[sos100] 08/9/2022 07:14

rns..

any views?

still not sure on how the company epxected a share price far higher short term when there's no clear strategy

[lodgeview] 07/9/2022 19:29

kooba it's going down to 0.1p

[kooba] 07/9/2022 18:57

I would disagree the share price on a day to day basis is merely a reflection of it being a microcap and a few punters selling not the underlying value of the company's assets . The value of their assets has been impacted by weakness in the underlying metals markets like many small pre development miners but the outlook for electric revolution metals remains one of tight supply relative to anticipated demand...so I think that will be a strong background for producers.

[trader465] 07/9/2022 17:35

Market cap is now about half of the £13m offered for just the Parys mountain asset in 2008, implying zero value for LIM and Grangersberg



AN ambitious venture to reopen a copper mine has suffered a huge setback after an Australian mining giant pulled out of a £13m deal.

Anglesey Mining had been in discussions with Perth firm Western Metals Ltd to take on the Parys Mountain project, which would have created up to 100 jobs.

The move would have seen mining restart at the historic Amlwch site for the first time in a century.

But yesterday Anglesey Mining bosses revealed the deal was off as negotiations had crumbled.

They said the deal had been hit by the international credit crunch.

The news comes as the island faces the threat of a massive jobs blow with electrics firm Eaton consulting about moving its Holyhead plant, which employs 265 workers, to Austria.

Wylfa nuclear power station is also set to start decommissioning in 2010 and Anglesey Aluminium, which employs more than 400 in Holyhead, has yet to secure a power deal beyond 2009.

Anglesey Mining chief executive Bill Hooley said: “This is not the best time to be trying to get funding, it is probably the worst time. The Australian dollar has been badly hit and this would have increased the costs for Western Metals.

“This is a knock-back and maybe with the current economic climate it is time to take a breather and see how the international situation develops.

“A worldwide recession would not be good for us but at the moment the demand for copper remains historically high. This has not finished anything but it is a setback.”

Anglesey Mining has been working since the 1990s to restart mining at the site, which in the 18th century was the most productive copper mine in the world.

The firm hoped to extract copper, zinc and lead, hopes that were boosted as international metal prices spiralled.

Amlwch councillor Gareth Winston Roberts said: “It is always disappointing to hear that possible job opportunities will not be created, especially in an area like Amlwch which does suffer high unemployment.

“My greatest concern is the job losses at many small companies on Anglesey, which are suffering.”

In April this year Western Metals had proposed acquiring the project for £13m in cash and shares. But in the summer the firm said it wanted to renegotiate the amount.

Yesterday a spokesman said: “Western Metals has remained in detailed discussions with Anglesey Mining plc since that time. However the parties have been unable to agree on commercial terms.

“Accordingly, Western Metals has now ceased negotiations with Anglesey.”

[eriktherock] 07/9/2022 15:29

eriktherock - 24 Jun 2022 - 14:37:49 - 4131 of 4380 Anglesey Mining - 2021 onwards - Copper, Iron, Zinc, Lead - AYM
Iglenn, 'Daily' rounded up (4.25 - 3.25 = 1.00) (3.25 - 1.00 = t2.25)
No skin in game here yet. I hope you prosper.