Anglesey Mining Share Discussion Threads

[trader465] 09/2/2023 08:14

Roslagen Resources a Swedish private company, which has led the re-development of the Grangesberg iron project since 2007

Grangesberg Iron a private Swedish company that was founded in 2007 with the target of re-opening the historic iron ore mine in Grangesberg

The directors of these Swedish companies have achieved nothing in 16 years

Next week we will have 295m shares in issue, up 75% from 168m in two years, not impressed.
How long until AYM have billions of shares in issue at a fraction of a penny each? Then followed by a consolidation??

The same is going on at UFO (the other company Jo Battershill is on the board of) they have 4.762 billion shares in issue.

[benjamin15] 08/2/2023 21:40

This is close to a nice bit of upward movement.....

[trader465] 08/2/2023 17:31

Just looking through some old RNS’s and saw this from 2014…

We are very pleased with the compliant resource estimate contained within the
RPA report", said Bill Hooley, Chief Executive of Anglesey, "This confirms our
belief in the inherent fundamentals of Grangesberg and we look forward to
moving the project through the next development stages with a target of
restarting production around 2018

Then 9 years on Jo Battershill says…
there is still a lot of work to complete at Grängesberg, including updating
both the resource and reserve models and undertaking environmental assessment
studies as preliminary steps to preparing a Feasibility Study

“preliminary steps” lol I expect he’ll drag another 9 years salary out of that one.

[bodgit] 08/2/2023 07:54

Glad I didn't bet on an RNS appearing today. Back in the bottom drawer for these then. Gla.

[trader465] 08/2/2023 07:49

When I invested in AYM it was main market listed with around 168m shares in issue, it is now AIM listed and that figure has increased 66% to 280m, hence the fall in value of each share. My original holding was 4m, I’ve sold down to 1.75m and will await the resource update before deciding whether to hold or sell the remainder. I’m most certainly not impressed with the speed of progress. Jo Battershill already had data going back 30 years, he should have hit the ground running when he took over, but that hasn’t been the case.

[mrmcnee] 08/2/2023 06:35

When the reversal comes here it will be a dramatic move, the share price has been manufactured down on very low volume, every AIM dog has it's day, when you see longs giving up the ghost you know that time is not far off.

The last placing was at 3.4p remember - cash runway to year end.

[trader465] 08/2/2023 04:45

Bodgit - I’m 7 hours ahead of UK time so have the advantage of foresight, it’s 11:40am here and I can confirm there is no 7am resource update, so you may go back to sleep ;-)

I think Kenny is right on this one, this company has now become a jam next year lifestyle company. The move from main market to AIM was the first clue, the second clue was the constant delays in drilling and results, and dragging of feet with alleged “ongoing”; this and that. The third and biggest clue was Jo Battershill seeking authority to issue 100% of share capital annually. This huge amount of potential value destruction for current shareholders has not been mentioned in any RNS, nor discussed in any interview, instead it was discreetly buried in a PDF on the company website, a huge red flag for me.

[bodgit] 07/2/2023 17:41

What are the odds on a resource update tomorrow morning? Gla.

[klondykejohn] 07/2/2023 17:28

I wonder if the MM`s are holding station at 2p.
The first serious drop to 1.9p could turn into a cascade.
I will pick up shares below that having divested lots of shares over the last 6 months losing a fair bit of money.
I still say sack the board but this will not happen.
Divest ourselves of Labrador and buy out Grangesburg.
At the moment we are involved in 3 non productive companies. This is too many. We need to turn round and concentrate on one project, then use any production profits back into project two.
Grangesburg has a LOM of 16 years with an investment of $559m
Big bucks so big profits, but with like any other mining project, it takes big bucks to restart production.
Catch 22 in my book.

[j5thumbs] 07/2/2023 12:02

Sorry to hear that, trader. I hope you keep a little skin in the game, just in case things turn out more positive. I'm still planning to increase my holdings if share price drops to 1.8p, although there does seem to be some price resistance around 2p a.t.m. Good luck !

[trader465] 07/2/2023 10:54

Jo Battershill keeps saying how advanced the Pary project is, they have data going back 30 years and have already bulk sampled 2000 tons, I see no reason for the updated data release delay except laziness.

Timelines are crucial at this stage, AYM has less than one year cash runway left. The longer things are dragged out the more dilution current holders will endure. I’ve run out of patience and unwound some of my position, the rest will get sold over the next couple of months. I don’t plan to wait around for 1 billion shares in issue and the price at fractions of a penny while Jo Battershill and co draw salaries for sitting at home all day.

[pistolpete100] 07/2/2023 08:32

I know it doesn't really matter in the grand scheme of things timing wise but this resource upgrade really is taking an age - I'd genuinely love to know how it takes so long? - I would have thought that this is really just plugging the results into a model and out pops an updated view.... (Clearly there is more to it, but what exactly?)

[kennyp52] 06/2/2023 09:14

Trader465.. these non producing AIM shares are a gamble . There is underlying value in this one but no foreseeable revenue steam . This has been going on for decades with only speculation to work with. Surely they have to use a JV to capitalise a mine ? I can’t see any other way forward .. you ?

[trader465] 06/2/2023 07:47

Well Kenny it’s certainly starting to look like it. 10 holes drilled over a year ago and still no resource update. One wonders what they are actually doing on a day to day basis? Perhaps they have decided to work a two day week and take five day weekends at the expense of shareholders.

[kennyp52] 03/2/2023 18:31

Trader465 .. how much are they spending and thereby how long will the cash last ? High risk share . Only way it can go up is placing or JV’s as far as I see it . Zero revenues. 10 bagger or bust .. you pays your money you takes your chance ? You like gambling huh ?

[bodgit] 03/2/2023 12:28

Thanks trader465 and kooba for that. I'm on a 'holding' pattern with these. Gla.

[kooba] 03/2/2023 09:59

Northern zone was an internal review came out on 28th Nov...which will lead to future work streams. This is sort of icing on the cake which needs further work to move to indicated and form part of a mining development plan. But is potentially very big.https://www.angleseymining.co.uk/northern-copper-zone-internal-review-completed/What we are due is an update resource estimate for white rock and engine zones following the drill programme boosting indicated reserves that can be fed into the existing PEA and ultimately form part of a full feasibility study for Parys development , plans are based on those two zones with Northern hopefully adding further accessible reserves once the mine is developed as far as i understand.

[trader465] 03/2/2023 09:56

The Northern Copper Zone is another 12 months away. Maybe Jam next year.

"Under the PEA design, first mining from the Northern Copper Zone would
commence towards the end of year 4, which provides sufficient time to infill
drill the first production areas immediately adjacent to the decline as it is
advanced into the White Rock & Engine Zones."

"Therefore, we are looking to advance additional work programmes at the
Northern Copper Zone over the course of the next 12-months. These programmes
will include drilling to confirm the historical grades and continuity, lift the
confidence to the Inferred resource, generate samples for metallurgical
testwork and provide a platform for downhole geophysical surveying - with the
aim of identifying additional zones of high-grade mineralisation. Ultimately,
this information will feed into a resource update.

[bodgit] 03/2/2023 09:46

kooba, I confess to being a bit confused. It's my age! I thought we were expecting two separate updates at about the same time. One for the Northern Copper Zone (end January??) and the other referred to in the 28 Nov RNS is for the White Rock and Engine zone. Can you or someone else enlighten me. Tia.

[kooba] 03/2/2023 09:31

As far as i can tell they said 6 weeks from 28th Nov , 6 weeks from then would be second week Jan. Probably always optimistic as many people do actually take a holiday at threat time!In the mining network interview a few weeks ago said hope for early Jan but that had slipped but the data were with the consultant for fine tuning hopefully back before the end of Jan.So its slipped a few weeks from his expectation and appears the internal work has been done. And yes we are in February a few days after the last comment. Not sure talking about 11 12 weeks from expected 6 weeks is right. It is a few weeks later than expected ...this company used to go years without delivering of their previous timetables. I guess all including Jo are frustrated by the share price but any who think even a mine like Parys is a boxing ticking exercise entirely at the gift of timing by the management are likely not invested in a number of sectors such as bio , technology and mining. Often best expectation on timing is made often there is some slippage..this is often outside the management control who are often pushed to give timeframes by investors.I'm looking forward to seeing the resource update shortly.

[noccer] 02/2/2023 22:27

I don't think he has done things "in a pretty timely way". That infill drilling was a year ago and we have waitied and waited for the resouce estimate. Eventually in November Jo said they were aiming for the new resources estimate in 6 weeks, well that was due 6th January - then he said in an interview it would be another 3 or 4 weeks due to Xmas - well I think its 4 weeks tomorrow. He said in a later interview that they were doing it in-house rather than farm it out - which is all well and good but means even less excuse for bad estimates on when it would be done.

I hope I am wrong - but drill, assay and update resource model should be something they can do, but looks like they are floundering around. When Jo said resource estimate in 6 weeks it should not be 9, 10, 11, 12 weeks. I hope all the other timings aren't just wildy optimistic guesswork too.

[bodgit] 02/2/2023 21:53

The RNS of 28 November 2022 said “We are currently working on the resource update for the White Rock and Engine Zone, which is expected to be complete over the next six weeks.” That RNS was almost ten weeks ago. I wonder when we will get the results of that update? Gla

[drc123] 02/2/2023 18:58

There is an employment problem in Anglesey 700 people are to be laid off at a chicken factory this week so they will be desperate now to get new industry on board, it was on ITV Welsh news last evening. So Parys should be a good starter.

[kooba] 02/2/2023 16:10

The last interview i saw Jo was pointing out just how much has been achieved in lining those ducks up in what would shape up as a full feasibility study to the end of this year. Now many things are not at the company's behest such as environment approvals etc but considering we have been through a pandemic and serious demand for lab services we have achieved a huge amount in a pretty timely way since Jo has stepped up..he has also put money where his mouth is.He has moved Parys on more in 18 months than the previously 10 years and has been fairly realistic in timescales and meeting them.Previously it was all talk and no delivery ..hopeless and wildly over optimistic at when they could approach development.Think things are going well and looking forward to seeing the resource update pretty soon.