Anglesey Mining Share Discussion Threads

[trader465] 13/2/2023 17:45

Kiervulpa - unfortunately for us, lack of activity and delays are unknown until after the fact.

We couldn’t see the picture a year ago because we don’t have all pieces to the puzzle, the more pieces we get, the clear the picture becomes. Here’s how the picture is coming together….

Share price 4p
8 April - downgrade to AIM market
16 May - Juno dilution protection
16 May - 32,104,989 shares issued
27 October - AGM, directors authorised to issue 100% of share capital
12 January - 14,544,827 shares issued
Share price 2p

I notice Mr Varma moves in a timely manor, no delays there eh?

Am I alone in seeing how the picture is coming together?

Look at the above bearish news flow dates and look at the price chart.

[klondykejohn] 13/2/2023 15:15

Kooba, I think trader has had a reality check on life since his health scare.
We only get one innings and we cannot live forever.
Trader has finally realised that he cannot wait another 30 years for the good times to happen at AYM.
Better late than never. Forgive and forget and agree to disagree on past issues.
Work together to at least highlight the inadequicies of the board.
We all know that they are not serving the investors of AYM to the best of their abilities, or maybe this is the best?

[trader465] 13/2/2023 10:07

Ho yeah I didn’t notice that. But it also includes dilution protection where Juno are handed 10% cash of future share issues. I assumed the 10% of placing cash handed to Juno was a one off, but they’ll get 10% cash of all future placings

[calmtrader] 13/2/2023 09:43

The rate on the debt is 5% as Jo renegotiated it!!!

[trader465] 13/2/2023 09:19

Buying or selling anything based on bb posts is’t a smart thing to do. One must do one’s own research.

Ref the near term placing, best we agree to disagree. Time will tell who was correct when the unknown becomes a known.

[sos100] 13/2/2023 09:09

Overdrive ramping and now overdrive in deramping👏

[m1sterx] 13/2/2023 09:05

I would rather believe what is in a official RNS than listen to a lonely voice on a bulletin board trader465, if they say they are funded they are funded.

Your intentions are clear, your aim is to destabilise holders into selling so you can justify your own exit from AYM. The last thing you desire is for the shares to rise now which they could from this very oversold level.

No-one listened to you when you were pumping the stock and no-one will listen to you now.

Remember trader465 - it costs to be stupid the more stupid you are the more it costs.

[trader465] 13/2/2023 08:55

I’d say we’ll be hit with another placing within 2 months. Anyone disagree?


Losses have now accelerated to around £1m a year
The loss for the six months to 30 September 2022 was £453,854. Net current assets at 30 September 2022 were £539,077

We have mouths to feed, golf clubs to sponsor, we have to pay 10% of debt to Mr Varma’s AYM savings account and we’ve handed £89k to some buddies. We may have enough to buy a wheelbarrow for the needless site manager/director come April.

[trader465] 13/2/2023 08:19

Paid for research notes are worthless. If WH Ireland thought something was worth 450% more than it’s current price they’d buy it themselves.

If I paid WH Ireland to put out a research note valuing my old Wellington boots at £10m it would be done.

[trader465] 13/2/2023 08:15

12 November 2021
The recent private placing has put Anglesey in a position to fund its planned operations for the next 12-months

17 May 2022
25,423,989 New Ordinary Shares will be issued pursuant to the Fundraising and a further 6,681,000 New Ordinary Shares (the Capitalisation Shares") will be issued to Juno Limited

25 November 2022
The private placing in May 2022 has put Anglesey in a position to fund its planned operations for the next 12 months.

9 February 2023
Anglesey will issue 14,544,827 new ordinary shares. Following the issue Roslagen now holds approximately 4.9% of the issued share capital of the Company. As such, the total number of voting rights in the Company will be 295,220,548 Ordinary Shares

[the_sage1] 13/2/2023 08:06

Cash runway longevity - RNS 25th November

[danmart2] 13/2/2023 08:02

Forecast prices are meaningless

It’s an opinion, it means nothing

[the_sage1] 13/2/2023 07:59

WH Ireland 11p price target November 2022.

[trader465] 13/2/2023 07:17

You just don’t get it, I’m wasting my time responding to you.

The outcome of all our then estimates were the unknowns. The unknowns then, have now become knows now. Forward financial losses, dilution rate, delays, interest rates etc.

Company XYX may increase its market cap, but not the price per share due to dilution.

From memory SGZ (I think) has increased it cap by several hundred percent over 10 years, the share price has fallen. That’s dilution for you.

[kooba] 13/2/2023 07:12

kooba 31Oct '21 - 15:07 - 2261 of 4961 Edit 0 0 0A veritable web once you start digging I've rather given up but lots of links between Buchans Minco and QME who have done much of the historic work on Anglesey ..Then there's Hooley ex Md Micon who have done much of the rest of the historic work.Go back to 1997 ..there's Juno too!https://www.irishtimes.com/business/imo-in-2-1m-reverse-takeover-1.82062Given up on the directors history and conflicts just gets more concerning ..but a reason why I think further clearing the board of these interconnections to give an independent representation to shareholders the better."Was told to F off ans sell up by trader repeatedly around this time for raising these issues.

[kooba] 13/2/2023 06:51

Yep not sure I can get my head around someone who thought the stock would go to 40p six months ago having tried to ramp it for a few years who now thinks the shares are overvalued at 2p. I tend to think they are idiots who over react one way or the other and have little grasp on reality or the mining industry. Anyone who ever bought into Anglesey thinking they would go to 40p without raising any funds from shareholders to do necessary works to move to an investable feasibility study stage shouldn't be investing full stop.It's extraordinary anyone thinks about doing some basic due diligence on publicly available information after they get out. Lol.

[trader465] 13/2/2023 06:48

kooba - you said this on 12 Nov 2021….
“Grangesberg PEA early next year
Parys..drill results over coming months, Feasibility Study 2022.
We could have a highly attractive substantial fully appraised and regulatory approved copper/zinc /lead and PMs mining opportunity to fund to development or sell to the highest bidder in the second half of ‘22”

I agreed with you at the time. However, a lot of time has passed since then and it has come to light that all the above (and more) timelines not met. What went wrong?

Jo Battershill was expecting the rig to remain on site to drill the Norther Copper Zone. This obviously didn’t happen and nothing more was said of it. What went wrong?

The permits and environmental work is voluntary rather than essential and was estimated to be complete in 2022. Here we are in 2023 and only one third into this voluntary work. What when wrong?

We are operating on dilutive placings, we simply can’t afford these expensive delays.
Neither can we afford apparent needless staff, sponsorship of golf clubs or shouldering of related parties debt.

[trader465] 13/2/2023 04:41

Exactly, these delays result in accelerated placings because no alternative funding options have been found. Jo Battershill’s carefree attitude to these delays is destroying investor confidence.

2022 - both Parys and Grangesberg work failed to meet the advised timelines by a country mile, we also saw 1H financial losses dramatically increase (largely due to the reinstatement of salaries), shares in issue increased, and interest rates increased. Although interest rates are outside of management control it diminishes alternative funding options and therefore exacerbates any negative affect on the share price.

2023 - we have been informed that environmental work is only one third complete, other work is “ongoing”;, shares in issue have increased, debt has increased, and no doubt financial losses to year end 31 March will show a substantial increase. These financials will be the fist full year results of the new management. We can expect results to show a substantial y-o-y increase in losses due to the first full year of director salaries and the apparent employing of needless staff.

I don’t see anything bullish in the 2023 pipeline. Meanwhile Mr Danesh Varma will continue depositing cash into his high interest AYM savings account, paid for by shareholders with ever increasing placings. Same old same old has started to become apparent.

Edit: danmat2 - there was an explanation for the delay, did you miss it? “Unfortunately Christmas gets in the way of these things” 🤷‍a94;️

[danmart2] 12/2/2023 22:09

Trader465

Good write up

The CEO needs to perform, delays not acceptable especially without an explanation

[trader465] 12/2/2023 21:23

Kooba and I can’t put our heads together, I don’t like sand in my hair and Kooba doesn’t realise there are two sides to every coin ;-) Anyway, aside from the conflict issues….

The reason for the share price fall is operational delays, financial losses and placings.
Look at the price chart and compare the fall from 4p to 2p with news flow.

March - April 2022 the price rose to 4.5p on expectation of bullish news on Parys drill results and Grangesberg PFS expected end of Q3.

May - June the expected bullish news is delayed, this has caused the price to drift lower. Not only was the expected bullish news delayed here, but we received bearish news on an issuance of 25,423,989 shares and a further 6,681,000 shares being handed to Juno. Price falls lower

July - the grangers PFS was released 4 months behind originally planned timeline and therefore had no effect, price continues to slip lower as investors lose confidence in new management.

September - final assay results still not issued. Instead we saw the annual financial results released which showed financial losses had ballooned 111% to £693,242. Priced continues to fall.

October - final assay results from Parys released, no effect on price due to the assays being delayed and prior financial loss announcement, sentiment is lost, price continues to drift lower.

November - a financial loss for the six months to 30 September 2022 £453,854 released. Price and sentiment hits a new low, all the expected bullish news since Q1 4p has been overshadowed by delays, share issuance, and accelerating financial losses. This resulted in a share price of 1.9p, down 50% since end of Q1. We now need a 100% share price gain to recover to Q1 levels.

Feb - 2023 - another issuance of 14,544,827 shares, despite placings and financial losses announced throughout the year, we now also take on extra debt liability of £335k.

After a year of dismal operational and financial performance and no significant news due in 2023, investor confidence is now lost. It’s difficult to see how the price can recover 100% back to Q1 22 levels with now more shares in issue and probable more placings coming our way very soon.

[trader465] 12/2/2023 20:54

misterx1 - I take your opinion onboard, however, I respectfully disagree.

If the price fall was down to this certain entity posting negative articles over the last three months, how does that explain the falling price since April last year?