Anglesey Mining Share Discussion Threads

[trader465] 15/2/2023 06:14

Kooba - if you look out of the window you will see where the sun actually shines from, it’s most certainly not from any directors backside.

Taking a closer look at AYM net current assets figures and factoring in the placing in May and the cash handout to the Roslagen boys club, I estimate they’ve burned cash at an average rate of around £100k per month since March 2022 statement. Net current assets at 30 September 2022 were £539,077. Therefore, at that point, we had enough cash to last 5.3 months, ie mid March before the bank is dry again. Mid March is just ahead of the 31 March financial year end, no company wants to publish their annual financial statement with net current assets of 99p. I therefore reduce my timeline to a placing from 2 months to Imminent.

Is this also the reason for the delayed resource update? Perhaps hold it back to nearer the financial year end in the hope of boosting the price ahead of a big placing?

Any sensible argument against this? Perhaps m1sterx could offer his view, he tells us we are funded to the end of the year?

[kooba] 15/2/2023 05:53

Jo was never a director of SO4 and was working for them for 2 years and left in Oct 2019..the company failed 2 years later.Not the only Potash company to bite the dust. It's on his linked in..not sure what bearing this has.https://uk.linkedin.com/in/jo-battershill-85b49252As to your shareholding here..just your word on your holding that I never believed..but if you had that amount in a small mining company and you did no research , no due diligence and don't read the rns' then I guess you should not be that surprised at the outcome.

[trader465] 15/2/2023 05:18

1:15 in “we would then be hoping to develop a plant within 12 to 15 months”

Interview: Jo Battershill - Salt Lake Potash


1234Gold - 01 Mar 2019 - 07:30:46 - 98 of 860 SALT LAKE POTASH LIMITED - SO4
Jo Battershill presented at the Proactive One2One forum last night. It feels like the market is finally starting to get it. A relatively simple production process and a well understood product.


Salt Lake Potash Limited Appointment of Voluntary Administrators

[trader465] 15/2/2023 05:00

Those who’ve been here a while will know in 2021 I held over twice the monetary value of Jo Battershill’s £70k holding. No credibility should be given to any project based on the size of the salesman’s holding. I’d say £70k is small change to Jo Battershill, he wouldn’t battershill an eyelid if he lost it. Fact is he needs to “appear to believe” in the project to sell the story to investors to print more money (shares), then rinse and repeat. He’s a great actor and made more movies than Harrison Ford.

[kooba] 15/2/2023 04:10

Whilst on the subject of Phoenix..a month ago."The metallurgical testing program is progressing as planned; however, as previously communicated, assay results are taking longer than originally anticipated due to laboratory backlog."We look forward to reporting additional assays from the program as they become available and appreciate everyone's patience while the assay laboratory continues to make headway on the sample backlog."

[kooba] 15/2/2023 03:11

"Remember the CEO has bought £70k worth all well above 3p a share."Good point he has indeed invested..likely more than has earned net of tax. Does this show long term confidence in a return or someone just sponging a salary? I find it very strange those accusations , he is well thought of in mining finance circles and could have continued earning good money in investment banking..instead took on a project that had been stuck for decades..one he was already a small shareholder in and was watching since an Australian company made an offer for Parys back in 2008...a bid that did not go through due to credit crunch. The economics are now far stronger. He is putting his reputation and money on the line to get this into production..his guidance on making that happen is extremely high now.

[kooba] 15/2/2023 03:02

Yes your calculations are correct..if the company issued more paper than they have to 500m the 50% discount to NPV i alighted to would be 25p a share based on previous resource calculations...i could live with that. However the only way the NPV could increase is if the commodity prices increase is not so.. the whole point of the current work stream was to shore up indicated to inferred..something that they confirm has been achieved , so the size of ore body can now be increased in the resource estimate. If there is only a 10% increase in the inferred recoverable then using the $250m base then the resources would be $275m so 50% discount $132.5m so the money raised and used on works is adding underlying value.. the above numbers could obviously be larger.I strongly believe at a bankable feasibility stage the NPV will be the base of alternative funding not the shares in issue!

[kooba] 15/2/2023 02:47

"PXC are getting it right, AYM are not."PXC almost doubled the shares in issue in an £18m fundraise in 2021.. most of which was a private placing at a discount. It was clever to have done a massive issue in one go when sentiment was strong and left the company well financed..they issued warrants at the same time which are also dilutive. They have yet to get 'alternative' source bond away I thought ..so still are not fully funded. But they have used equity finance extensively.The idea on Anglesey is that I believe they think the shares extremely undervalued relative to the value of the assets and they thought that value would be recognised by the market as they progressed the project and would be better able to achieve the equity funding to get it to possible 'alternative' finance routes by restricting placings at lower levels...unfortunately the shares have not reflected that progress largely due to a shake out in global commodity markets..impacting many share prices in the sector. PXC more than halved from 75p peak to have recently recovered with better underlying commodities.They are currently starting to frustrate on feasibility and funding timelines.They still are far more diluted than AYM shareholders over two years.The AYM share price is indeed disappointing..is that AYM current CEO issue alone or the poor reputation the company gained prior to him joining of jam tomorrow? Jo does need to show he can meet timelines he has set himself otherwise he will be compounding that reputation.Focus on the value of the assets though.

[klondykejohn] 14/2/2023 22:04

which is why we are somewhat baffled at the current share price misterx.
We do not want the shares at 2p, but what on earth is the reason for it?
Back to the board for some insight.

[m1sterx] 14/2/2023 19:54

One thing I cannot stand is some fool pumping a stock when in and bashing the same stock when out.

It is as clear as crystal the basher trader465 wants a lower entry point, why spend hours composing posts and bashing 24/7 for days on end otherwise.

Fools and money are easily parted trader465 !

Remember the CEO has bought £70k worth all well above 3p a share.

[trader465] 14/2/2023 19:23

Apologies I don’t remember? Anyway, there’s plenty of freebies handed out, I’m surprised don the con hasn’t been handed a lump? Perhaps he was happy enough with a company credit card.

[klondykejohn] 14/2/2023 18:57

Shares in existance are an important element of investing in a small cap company kooba.
You are suggesting 40p for a npv of $250m if a large miner came to the table.
$250m x50% giving $125 on the table. divide it by existing shares(295m) gives approx 40p.
BUT. if there are further share dilutions, let us say up to 500m shares in existence, then the $125m needs to be divided by 500m, giving a figure of 25p.
We have seen the share price drop every time new shares have been issued at AYM
Remember, the npv is a fairly fixed figure, unless metal prices go through the roof.
Remember PXC? No more share dilutions giving investors the best possible returns.
Instead, looking at the bond markets to raise capital. A cheap way to raise cash.
Looking at the market cap when buying plays a part, but I don`t invest in Aym companies purely on market cap when I consider any purchases. It is the company assets that govern me.
PXC are getting it right, AYM are not.
I do not want to see any further dilutions at AYM, but it is a certainty that dilutions will happen.
I sincerely hope that Grangesburg and Parys take off, but whilst Juno can have 2 directors on the board, I do not believe that Aym can be a producer.
It is becoming just a money merry go round. Apart from Kearney and JB, the other directors do not hold shares.
I remember when they gave themselves a swathe of shares, the price went up to about 7p and they ALL sold their holdings after 5 weeks of receiving them.
So much for backing the company, and trader, you pooh poohed me at the time, but maybe you need to include that in your investigations.
(Kearney has since bought some shares)

[trader465] 14/2/2023 18:54

You must be almost out of crayons by now?

I referenced your “40p per share” calculation, rest of your waffle in the referenced post was irrelevant, so I left it out.

Whatever you calculate “per share” is irrelevant, but this figure becomes the numerator, the amount of shares in issue is the denominator, if the denominator increases, then the result of the equation will be lower, ie a lower value per share.

I can only explain it for you, I can’t understand it for you.

[kooba] 14/2/2023 16:25

Posting a tiny picked part of a post is low ..even for a low life like you trader.Note the last sentence!"The bear case seems to rest solely on having to raise more money..i am expecting them to raise more money as the value of the assets becomes more apparent..delighted. Dull argument exposing little knowledge of mining exploration…understanding they are trading at a tenth of likely current industry value is far more interesting. "I stand by that 100% too.

[trader465] 14/2/2023 15:45

UFO the other PLC Jo Battershill is on the board of has 4.7 billion shares in issue at 0.5p. No need to say more. I don’t follow UFO or what they do, but I know of Jim Williams spouting about putting Arian Silver into production about 15 years ago. I assume it’s been running on placings ever since.

[trader465] 14/2/2023 15:31

Thanks for the compliment.

You are obviously not paying attention. The 40p Per share target for Parys was an extract from your post 3681 on April 22

Dilution maybe expected, but it’s the lack of progress exacerbating the ‘scale of the dilution’ which is of concern.

[kooba] 14/2/2023 15:17

It would have needed to be £100m without dilution to get to 40p a share ..if we get to 1B shares in issue then that 40p 4 times less so 10p yet you think they are now expensive at 2p...you are no financial engineer sunshine you can't even do basic math. Lol

[kooba] 14/2/2023 15:10

If people pay no attention to company communications it doesn't make them clever..in fact quite the opposite.

[kooba] 14/2/2023 15:09

I never said Parys could be worth 40p a share! That was you. And when you said it we had already issued equity to raised money needed for fully detailed work stream..the other share issue recently was to buy a majority interest in Grangesberg which I think adds enormous value . At what point anyone in their right mind thought the company would get to a point of fully funding this development without dilution was someone who had done zero homework and had no clue what they were investing in or junior miners in general.Posting stuff that is fully disclosed in shareholder documentation or rns' is not exactly a revelation or deep dive research to those that do read the communications in a timely manner.

[trader465] 14/2/2023 13:43

kooba - 18 Apr 2022 - 16:25:02 - 3681 of 4997 Anglesey Mining - 2021
“Parys could be 40p per share”

I agreed at the time. However, we didn’t then know of the delays and extended timelines.

If we get to 1 billion shares in issue, which is quite likely with the current lack of progress and falling share price. Then, the market cap would need to be £400m, or 69 times the current £5.8m to achieve the above 40p price per share, and that’s on Parys alone! 40p per share won’t happen with 1b shares in issue.

Old price per share targets simply become unrealistic post dilution. At the moment we don’t have the dilution piece to the puzzle, and that’s the biggest and most valuable piece.

[kooba] 14/2/2023 12:50

What's difficult to understand on a debt for equity swap on same trrms as raise. This happen a while ago when you were spouting 40p targets How else is the company going to pay down debt , debt which was taken on to save the business as you pointed out when I raised it ages ago. Nothing like doing some homework once you are out..what a clown.

[trader465] 14/2/2023 11:38

The net effect of reducing debt to Juno by £300k is rubbish. It has diluted us.

They’ve put £1 in our right pocked and taken £1.30 out our left pocket.

We also have a liability to the boys club via Eurang which is growing and repayable from future financings. More expected dilution and cash handouts coming from that.