Anglesey Mining Share Discussion Threads

[calmtrader] 31/10/2023 06:45

I noticed that there was decent volume (relative)in Labrador ...maybe something is finally happening there

[broken_arrow1] 30/10/2023 15:49

Just £1,500 of stock sitting there on the offer, then it moves up, a far cry from a few months back when you could buy 1m shares well below market rates.

[kooba] 30/10/2023 12:01

Yep 100% ownership as things stand but there is an outstanding agreement with QME to effectively 'farm in' in exchange for executing and funding a lump of the pre production capex. They have the right and option to exercise on completion of a pre -feasibility study.'Anglesey Mining has a long-term partnership with QME, an Irish technical services company, to assist in the development of the project and the contractors have an option to earn-in 30% of the project in return for self-funding the underground development."QME is part of the DNA of the underground project already, and would likely tender for the development of the project when that time comes," Battershill says."The QME earn-in option means that a significant amount of the pre-production capex is potentially underwritten already. That would obviously mean some dilution, but it would ensure the project is developed by a very credible and experienced mining team."From an investor perspective, this should bring some confidence that Anglesey Mining will be in a position to close the large gap between our market capitalisation of £9m and the NPV of Parys Mountain implied by the PEA ... even if we did end up with 70% of it."https://www.mining-journal.com/base-metals/resourcestocks/4070760/anglesey-mining-sharpens-focus-parys-mountain-project

[wassapper] 30/10/2023 11:38

Nest - they own 100% of Parys.

[mrmcnee] 30/10/2023 08:45

Looking at the chart/volume/RSI it is looking very positive for a move back up, the RSI has bounced of the oversold level and turning up, the drop from 4.3p in April 2022 has been on very low daily volume, circa 500k daily.

There is no smoke without fire, one would suggest recent boardroom exits may suggest some corporate activity ahead.

2.4p looks a realistic near term target.

[calmtrader] 30/10/2023 08:45

So we should hear about new CEO soon I'm guessing and also "In addition, we expect to receive the results from the White Rock and Engine Zone metallurgical testwork over the next month. This will also provide important information for the overall plant design."

[broken_arrow1] 30/10/2023 08:05

Very little stock on offer currently, IG have just £2.5k available then they want a premium.

[calmtrader] 29/10/2023 19:06

Absolutely should get very interesting from here

[nestoframpers] 29/10/2023 17:51

Parys is said to have 160K tons of Copper and 400 K tons of Lead and inc , how much of that does AYM get to keep % wise ? Surely the licence doesn't entitles them to 100% of profits? Also anyone know what is the rent cost of half the mine off the Marquess ? ( as mentioned in vid ).

[mininglamp] 29/10/2023 16:57

I have a feeling there are going to be some very interesting developments at Anglesey, time to buy IMO.

Worth noting that Rod McIllree has built up a 4.2% interest in AYM, at the same time he is Exec Director and 15% shareholder at TMOR, an acquisition vehicle which recently attempted a £50m RTO of a company called Megasteel which for various reasons did not conclude.

Acquisition vehicle -> think Grängesberg listing !

[kooba] 29/10/2023 15:07

Cheers calmtrader

[calmtrader] 29/10/2023 12:25

The drilling on the NCZ should throw out some very impressive numbers which will mean the project's economics will be compelling !! Money well spent

[kennyp52] 29/10/2023 11:52

Why would this turn around ? Not mining anything and every placing is used up by overheads and speculative drilling to , imho , just to keep shareholders on the hook. CEO sacked .. being spun by over optimistic holders to be something positive … the sacking of a CEO is serious .. confirms massive issues . For me this remains a pure gamble .. all or nothing AIM tragedy .

[wisteria2] 29/10/2023 11:18

Expect a turnaround with the share price back above 2p and rising!! as the pendulum swings with the management shake up. GLA holders

[trader465] 28/10/2023 16:40

“Reading the RNS it certainly doesn’t come across that this was instigated by Varma”

Don’t read the words in the RNS, read between the words.

[kooba] 28/10/2023 16:39

True...but Varma can hardly say he the Chairman was ill and incapable of continuing but wouldn't step down. He had to say something kind even if he was instrumental in JKs removal I guess.

[pistolpete100] 28/10/2023 13:35

Reading the RNS it certainly doesn't come across that this was instigated by Varma - he seems to have been as surprised as everyone else - also agree however this was certainly not just a collection of PIs that had banded together

[calmtrader] 28/10/2023 11:08

Good question don't know

[kooba] 28/10/2023 10:52

I wasn't , but that would be a reason for proper succession planning ( though JK should have gone years ago as was deemed as non independent after 9 years on the board ) and an organised hand over of chairs duties. To have to resort to unceremoniously voting a Chair of 20 years off at an AGM with immediate effect is a failure of the board to manage itself if leading shareholders did not support the Chair.Still interested in what happens next , though Varma himself has served on the board throughout most of JKs tenure , as largest beneficially interested share holder and creditor. So one presumes has supported JK fully in the past.

[benjamin15] 28/10/2023 10:44

What happens with Labrador mines now????

[benjamin15] 28/10/2023 10:43

Calmtrader
That's not good, lost a friend to that few years back, can you believe he was made to go down the benefit office in a wheelchair and on a ventilator to prove he was unfit for work......

[calmtrader] 28/10/2023 10:41

So I think some investors thought it was best for him to step down

[calmtrader] 28/10/2023 10:40

Not sure if you are aware but JK had MND and his health was seriously deteriorating

[kooba] 28/10/2023 10:30

Numbers don't add up really for Juno with 20% not to be involved...even if a few of the new undisclosed holders clubbed together for specific attack on the Chair , 24.6% of the issued capital voted against the Chair with less than 50% of shareholders voting gave them the over 50% majority to defeat the resolution to reappoint. Unusual situation and your suggestion is that a large group of undisclosed ( and maybe smaller disclosed) acted together.Once again not impossible but highly unlikely..this was pre organised.I guess we don't actually get to find out..but if anyone talks to the company appreciate any takes from those in the know.Why just the Chair if any intent to control ?