Anglesey Mining Share Discussion Threads

[trader465] 10/2/2023 16:20

Are you happy to see your holding being consistently diluted for years on end with constant missed targets and no clear plan or timeline? When will you decide you were wrong to invest? Maybe at 0.02p?

[kooba] 10/2/2023 15:56

Well you see trader you are not posting like someone who has a fair chunk of stock left..and posting you better look deeper all is not as it should be type of posts is not really going to help the bounce you wish for. If you have something say it..i already probably know and posted ages ago ..but as with the mysterious connection you unearthed about Varma maybe its been in the plain light of day and everyone but you already knew all about it. Nice that you are asking questions than just posting big target numbers though..even if your research is a bit late in the day.

[trader465] 10/2/2023 15:41

Kooba - I suggest you put me back on filter and go do some more research on historical links in other jurisdictions. I won’t post my findings as I still hold quite a lot of shares and I’d like to see the price rise just the same as everyone else.

What concerns me more at this stage is dilution due the lack of speed at which things are progressing at. Given Jo Battershill had over 30 years of data at his fingertips things should have been progressing much faster.

Danesh Varma getting 10% on the loan and handed 10% of the placing proceeds on a plate keeps him sitting pretty, meanwhile private investors are seeing their holdings get evermore diluted, this dilution will compound hugely if things continue at a snails pace while drawing on shareholder funds. This is what Jo Battershill needs to address in his next movie, we need a clear plan and a clear timeline that accounts for unforeseen events such as Christmases

[kooba] 10/2/2023 13:53

I have looked extensively in the past outside of the accounts and posted up hear...what exactly do you think you have found then. You seemed surprised at the piece of information you posted on Varma and his interest in Grangesberg whilst that was fully disclosed multiple times...what else have you got that i might not know about.,,this all seems odd considering you repeatedly had a go at me if i pointed out corporate governance issues..go suck your thumb etc etc...now suddenly all the historic connections are an issue for you..weird.

[trader465] 10/2/2023 12:48

If you look further than AYM accounts you’ll find out a bit more than that.

[kooba] 10/2/2023 12:42

Think Jo can address much by just advising share holders to read the report and accounts as it should be a full and fair picture of the company's finances and activities and clearly sets out any potential conflicts and relevant connected party disclosures.

[kooba] 10/2/2023 12:38

Hell thats not news..everyone always new that and its in the report and accounts every year. The fact you who defended all the conflicts and the activities of the pre Jo era when absolutely nothing happened for years is all rather funny. I have over the years raised numerous conflicts in the board and lack of independence and set it all out which you brushed off with your usual style. But fair do's if your sudden discovery has given you concerns.2021 report and accountsDirectors' interests in material contractsJuno Limited (Juno), which is registered in Bermuda, holds 25.7% of the ordinary share capital. There is a controlling shareholder agreement and working capital agreement with Juno and note 18 sets out movements under this working capital agreement. Apart from interest charges there were no transactions between the Group and Juno or its group during the year. An independent committee reviews and approves any transactions and potential transactions with Juno. The family interests of Danesh Varma, a director of the Company, have a significant shareholding in Juno.John Kearney, Bill Hooley and Danesh Varma, as nominees of the Company, are directors of Grangesberg Iron AB. Similarly, Bill Hooley and Danesh Varma are directors of Angmag AB as nominees of the Company. Danesh Varma has been associated with the Grangesberg project since 2007 when he became a director of Mikula Mining Limited, a company subsequently renamed Eurang Limited, previously involved in the Grangesberg project. He did not take part in the decision to enter into the Grangesberg project when this was approved by the board in 2014. The Group has a liability to Eurmag AB, a subsidiary of Eurang, amounting to £332,272 at the year-end (2020 – £321,105). See also note 24.There are no other contracts of significance in which any Director has or had during the year a material interest.The Company takes out a directors' and officers' liability insurance policy on normal commercial terms which includes third party indemnity provisions.Substantial shareholdersAt 24 August 2021 Juno Limited had notified an interest in 57,924,248 shares representing 25.7% of the issued ordinary shares.

[trader465] 10/2/2023 12:34

I know Jo Battershill reads the thread, perhaps he could publicly address my concerns in his next blockbuster proactive movie?

[trader465] 10/2/2023 12:24

There are also conflicts of interest of more that one member of AMY board which has caused me concern. These conflicts may also be the reason for lack of investor interest and poor long-term share price performance. The most recent coming to my attention in the 12 January 2023 RNS

“At the same time, Eurang Limited, a UK private company, agreed to invest $1.75
million, of which $1.25 million was invested in GIAB, for new shares
representing a 51% shareholding interest in GIAB”

A search on companies house reveals that our own AYM and Juno man Danesh Varma is also an active director of Eurang Limited, now with a 51% in GIAB.

[trader465] 10/2/2023 12:03

Like I’ve said, it’s just words with very little action. Environmental studies were complete decades ago and planning permission is still in place. 90% of the work is there, it’s simply a case of updating what we already have to meet the updated regulations.

20 October 2021
“Over the years, a number of environmental studies and permitting activities were completed resulting in Planning Permission being granted in 1988 under Section 52 of the Town and Country Planning Act 1971. With changes to the Planning Act coming into force in 1991, the company has embarked on a review of the historical environmental and permitting work to ensure all aspects meet with the current regulatory regime.

This gap analysis will essentially determine the framework for any environmental work programmes over the next 6-12 months”

Again two Christmas have passed since the above was said, yet, in the proactive interview just 3 weeks ago Jo Battershill “we’ve got our FIRST meeting with the mineral planning authority in a couple of weeks”

Again, the speed at which this is progressing is unacceptable while running on shareholder funds.

[kooba] 10/2/2023 10:39

The metallurgical studies were always anticipated to take 2-3 months..where any delay is now may well be at Grinding Solutions..they can't have a meaningful resource update without an update on the recoverability in the ore..so we know the assays are good and will significantly increase indicated that has been released to the market , the metallurgical studies should again advance the recoverable resource. But hell progress is being made and that resource update is obviously due. If fed into the PFS the NPV will undoubtedly jump significantly.So last assays back end Oct '22. Things are maybe slightly behind on a full resource update but i can't actually see on company communications a hard date for that and the assay results were somewhat delayed ( i seem to remember you saying the results would take longer due to lab delays yourself repeatedly) but have been relayed to the market since early summer as they came back from the lab.20th OCT '22Jo Battershill, Chief Executive of Anglesey Mining, commented: "With the final encouraging assay results now received, we can move onto the next round of workstreams for Parys Mountain. As previously highlighted, core will be sent to Grinding Solutions to conduct pre-concentration studies on representative samples from areas that are likely to be mined. We believe that the ability to selectively remove the unmineralized material would have a significant positive economic impact for the ongoing development studies."27TH oct '22The last 12-months at Parys Mountain have seen a significant amount of work, commencing with the first drilling programme for over a decade followed by geotechnical modelling for underground mine optimisation work and the conceptual tailings design. Concurrently, we commenced the permitting and environmental baseline work that has progressed very well. We believe the significant gap between our internal valuation of Parys Mountain and Anglesey's market capitalisation would be lessened with permits in hand, consequently the permitting process remains a critical path activity."

[trader465] 10/2/2023 09:57

Kooba - there’s an abundance of explorers on the market with far higher market caps than us and billions of shares in issue at a fraction of a penny each. If Jo Battershill keeps dragging his feet, then dilution will compound and AYM will become another fraction of a penny stock.

[trader465] 10/2/2023 09:50

20 October 2021 RNS
A drill rig has been secured for the first drilling programme at Parys Mountain since 2012 which is set to commence in early November
A nine-hole programme for 2,750m of diamond core drilling has been designed to provide additional information that will feed into the planned Feasibility Study in 2022

Two Christmases have come and gone since this announcement and still no resource update! Were both Christmases unexpected? And what happened to the 2022 Parys Feasibility Study?


In the same announcement we were told: “we would expect to have results coming back to us during Q1 of 2022”

The final assay results from the drilling were not released until 20 October 2022, ie seven months behind targeted time line.

While cash is tight and the company is burning through investors cash at the current rate every working day counts! These delays are simply unacceptable.

[kooba] 10/2/2023 09:34

Thought they went below 2p in November briefly then recovered a bit...seems trader selling their massive holding has been a drag for months as having taken them off ignore to see the reasons for turning bearish..seems just patience is the difference between worth 20p and I'm getting out.Anyway selling their holding down since 3p they say..last at 3p to sell back in August '22 it looks like..so not so much selling because the resource update is slightly delayed from early January for a few weeks been selling for a while.

[klondykejohn] 09/2/2023 18:37

Shares finally dipped below 2p
Will this signal a big slide or can it bounce back.
We need some positive news quickly.

[trader465] 09/2/2023 16:55

Yeah I started selling down when it fell through 3p, I have no plans to buy them back at any price, I don’t think the next 18 months will see anything significant just “ongoing”; this and that followed by delays and placings.

[calmtrader] 09/2/2023 13:32

I guessing you sold a few a lot higher up..time to buy those back and enjoy the next very exciting 18 months

[trader465] 09/2/2023 12:42

j5thumbs - I lost patience a couple of months ago due to constant delays in data releases and lack of significant progress in moving the projects forward. My reasons are outlined in my last few posts. One and a half years from drill to resource update is simply unacceptable, and I’ve grown tired of reading about alleged “ongoing work programs”. There has been no significant news released to confirm results from these alleged ongoing work programs. Actions speak louder than words, I see only words and very little action.

The dilution also played a large part in my decision to reduce. Directors salaries have now resumed, and with zero revenue losses are ballooning. If things continue to move at a snails pace with no significant headway made on JV or funding, holders will become significantly further diluted going forward.

[danmart2] 09/2/2023 11:26

Company Email sent out this morning

[calmtrader] 09/2/2023 11:02

Sums it up perfectly

[kooba] 09/2/2023 09:43

I have trader465 on ignore as was always unrealistically bullish and supportive of the old guard who achieved nothing..he is now a bear is he ,at these levels ,having touted big price targets for years. If he has turned negative why post so much as presume they have sold up. Think things are lining up well myself and the company has made good progress in defining the opportunities we have...apart from Canada which continues to be run separately where nothing continues to happen..no money raised ,no progress.You cannot raise proper money unless you are genuinely spade ready with all permits and environment approvals in place and the highest level of indicated resource in place..that has been what is going on. The old management would just blab about going out to raise money without things in place it was naive at best and misleading at worst because it wasn't at an investable point. Parys in now moving to that point with the timescales ( not all in company's gift) set out properly.Equally Grangesberg where nothing has happened for years we have an up to date PFS and have consolidated our ownership position. We now not only control the management but the share register..so it is now worth progressing to try to find a jv partner.Far more has happened under new CEO than decades under the old one (rip) so i don't see why jumping ship now..the price of copper is on the up and prospects for copper and other metals look extremely strong for decades.Its a slow burn as we are cash constrained ( unlike pheonix that did a chunky raise when markets were better) but good progress is being made in the circumstances.

[sos100] 09/2/2023 09:07

good question...Trader you was very positive few months back

[j5thumbs] 09/2/2023 09:05

Trader - what was the pivotal moment when you turned from bullish to bearish on AYM? And why do W.H.Ireland keep on producing bullish statements in spite of apparent lack of progress? I'm genuinely interested to know.

[kennyp52] 09/2/2023 08:55

Rinse and repeat by the looks of it Trader465