Anglesey Mining Share Discussion Threads

[calmtrader] 04/11/2023 08:17

A note on Brownfield siteshttps://www.proactiveinvestors.co.uk/companies/news/1032049/mining-101-buried-treasure-and-brownfield-exploration-1032049.html?rel=scroll

[kennyp52] 03/11/2023 09:23

Shame they produce no metals Kooba ? Enormous amount of capital required to open a mine at Parys . Cash burn on drilling and wages .. thus the share price . Huge risk here .. but you could well be rewarded . Good luck

[kooba] 03/11/2023 06:25

And the metals backdrop is becoming more favourablehttps://tradingeconomics.com/commodity/copperhttps://tradingeconomics.com/commodity/iron-oreZinc is rebuilding but well off the spiked peak earlier this year but aligned to the PEA estimates.

[kooba] 03/11/2023 04:50

Thx..hopefully it materialises.On JB front my understanding is that family reasons for moving back to Oz play a significant part , as well as an offer to run a business he knows well too good to refuse.I'm still disappointed , but he is leaving on good terms and staying on the board of the company which should make transitioning to a new CEO easier. The removal of JK hopefully marks a turning point in perception.Difficult times for small caps especially miners at the moment but the underlying assets and fundamentals remain compelling , if we start to see some further recovery in base metals then there could be some significant reratings coming up.

[klondykejohn] 02/11/2023 21:38

Agreed.
As I understand it, PXC are trying to finance their project by issuance of bonds.
Apparently,the bonds have been taken up and an announcement to that effect is purportedly due within the next 3 weeks.
Coupled to this is another announcement detailing the fully costed economic assessment.
The Sp has risen sharply on this information, in part, from comments made by one of the directors recently.
People are buying in to the company in the hope that both pieces of news are positive.
If this does happen, then I would expect the share price to really rally, possibly doubling it`s current pric, or even higher. Bearing in mind as well that there are only 125m shares in existece although it could increase to 140m if all warrants are taken up. Still a small total in my opinion. Definately a share to watch.
The fs for Parys could also be a game changer, but production is a few years off, but it is quite possible that things could speed up now that Kearney has gone. Still can`t get my head around why JB is leaving though.

[kooba] 02/11/2023 17:17

Well i don't know everything i can assure you.But Parys mountain is an Ancient scheduled monument as well which means there must be extra consideration on top of the sssi so surface visible impact must be minimal.The idea is that concentrate is exported by ship to copper smelting plants in Europe there is no longer any in the UK i gather.Full details of tailings management and on site treatment will no doubt be included in the PFS after due consideration in conjunction with the regional authorities , but a number of relevant permissions were already in existing mining permits , but i guess we will have to wait for the outcome. Type of concentrate preparation may also be dependent on the ongoing metallurgical studies i would guess.QME ongoing relationship , it will be interesting what transpires there as the founder is good mates with our past chairman JK..so difficult to get a feeling for how that remains , but i again guess if QME think they can make good money from their earn in option they will still be there. It was ultimately the shareholders of Angelsey , the owners of the company who decide who runs the company and from clear information now received it was not an inside job but a number of independent share holders who voted him out.Will QME bid ..get the whole thing for far less than there funding option interest..i doubt it because if they tried to take it on the cheap I doubt important players would accept anything like current levels...completely different ball park.Just some thoughts having followed for a while now,

[klondykejohn] 02/11/2023 14:49

Kooba, firstly, I wasn`t aware that sssi`s were in place at Parys, so opencasting is out of the question as you rightly say.
Let us not forget however that historically, copper extraction at Parys was about opencasting, hence the landscape.
Good point about the water and sludge removal machinery, something similar will certainly be needed.
AYM need to find a location to process the ores recovered. Are you aware if heap leaching is to be done or tank leaching and where would you put an EW operation, or do you think that the ore would be shipped off to an existing manufacturer?
Also, is it not possible that QME might want to buy up AYM on the cheap.
It would appear that they have the funds to be able to do that.

[kooba] 02/11/2023 14:17

Guess these guys based around the corner could sort the dewatering. Seems to address some environmental and cost concerns ? Biggest dewatering /sludge management machine in Europe. Though i think some are looking for issues for the sake of it.Whilst the share price disappoints the quality and potential of the asset (s) and their long term value is progressing from where it was a few years ago..years of neglect and over optimism by the board are being addressed and some realism in terms of the work that needs to be done to get this project up and running. Without all the work done properly and the potential defined then it was never going to be financed.I think it will be and remain very bullish of the price of copper ( and other EV metals ) over the next decade.

[kooba] 02/11/2023 10:30

You think they are going to open cast mine 300m down in a heritage site? Interesting though impossible.I am no mine engineer but QME are..from article'The next major piece of work for QME, which follows directly from the site visit earlier this month, will be the development of plans to reopen and use the 300-m-deep Morris shaft as a potential early access option to the higher value Engine zone. It is believed that this shaft, though currently flooded to near surface, is in reasonable condition and could be dewatered and rehabilitated relatively easily.'So i remain of the opinion that the Morris shaft ( which would be extremely expense to sink , but already in place) is of critical importance to move the deep indicated resources to production and readying the shaft and other major subsurface activity. I do not have the full remit of what is in the QME arrangement but have always understood that it involves a significant part of the development costs of some $99M of the preferred development and production model.

[klondykejohn] 02/11/2023 09:54

I don`t think it is that easy kooba.
You are asking for a shaft that has held stagnant, possibly oxide contaminated water up to 1000 feet deep to be emptied firstly. probably a deep thick slurry at the bottom of the shaft. How do you dispose of this? Environmental agencies will understandibly be concerned about river and stream impact, so it is, in my opinion, not an easy option for the company.
I would love to see it happen, but the biggest costs are for the surface operations. Remember that the company has intimated that to get the mining into production will cost £50m -£80m. Just how much can be saved by underground operations as opposed to open pit operations.
As I have already suggested, only time will tell.
Maybe in about ten years time, we may well have our answers.

[kooba] 02/11/2023 05:01

No I make it sound like a significant part of the work required to get to production would be subsurface and would be part of the QME agreement rather than guessing that the Parys project would be an open pit project. There are obviously significant surface costs but a large part of getting this to production would be underground..if that was underwritten it de risks for other external funding options.

[klondykejohn] 01/11/2023 23:58

You make it sound very easy kooba, but time will tell.

[kooba] 01/11/2023 19:15

Why do you think it's an open pit development? I don't think that has ever been the idea at all. Do you not wonder why the Morris Shaft sunk 300m down as a production shaft was put there?From a few years ago The optimisation study is being conducted under a project development and cooperation agreement entered into with Ireland's QME Mine Engineering Services (QME), which is conducting the study at its own expense in return for which Anglesey has agreed to grant QME various rights and options pertaining to the future development of Parys Mountain.QME has assembled a team of qualified and experienced geologists and engineers specifically for this project. The QME team has conducted two workshops with Anglesey since the project started in late November, including a site visit to Parys Mountain earlier this month.QME is examining a number of development scenarios for Parys Mountain, which include the initial development of the mine from a new decline, with first production from the White Rock zone, and alternatively initial development through refurbishing the existing Morris shaft, with early production from the higher-value, though deeper, Engine zone. A number of subalternatives are also being considered.To fully evaluate these alternatives QME has conducted a detailed validation and review of the wire-frame models of the various orebodies and zones that will form part of the new production plans.QME has also examined the classifications of resources previously used and currently believes that it will be possible to increase the tonnages available for production when these reviews are combined with updated costing models.Work will continue on the wire-frame review and is expected to lead to the development of alternative mine production plans in the coming weeks.As QME's understanding of the requirements for development and production at Parys Mountain has evolved since November, it has started the compilation of a detailed cost database to be used in examining each of the alternative scenarios.This will ensure that the comparative financial models to be produced for each option will be consistent and current.It is expected that the compilation of this database will be completed to tie in with the completion of the alternative mine production plans as noted above.The next major piece of work for QME, which follows directly from the site visit earlier this month, will be the development of plans to reopen and use the 300-m-deep Morris shaft as a potential early access option to the higher value Engine zone. It is believed that this shaft, though currently flooded to near surface, is in reasonable condition and could be dewatered and rehabilitated relatively easily.In addition to the shaft itself, QME has examined the headframe and winder on site and will consider if and how best this existing equipment can be used for the shaft reopening exercise.Development of the logistics and costing of this possible approach will be incorporated into the various alternative models as information becomes available.

[klondykejohn] 01/11/2023 17:21

This will probably be an open pit, so underground work will not be a significant part of the capex. I could be wrong.

[kooba] 01/11/2023 16:22

The idea is they earn in an interest by doing the underground work on Parys which represents a large chunk of the initial outlay that is their business. With this chunk of capex covered it would be far easier to get the funding for the balance i would have thought.https://qme.ie/projects/

[klondykejohn] 01/11/2023 10:26

Decent profits, but nowhere near enough to influence any production at Parys.
I just can`t see where BoD can raise £80m to get into production.
Coupled to this, where would you position a production site. A heck of a lot of planning restrictions in the UK and it is such a long drawn out process that I would not envisage any production starting here within the next 5 years.
Probably nearer 20 years, knowing this Boards` previous performances.
I still believe that another share raise is on the horizon.

[trader465] 01/11/2023 04:16

I’ve tried in the past to find out more about QME, but nothing come up on the CRO website, not sure if my geographical location is restricted. It would be interesting to see QME latest financials, and their debt position. They don’t appear to be large enough to finance Parys.


Company Financials of QUARRY & MINING EQUIPMENT LIMITED
On 2021-06-30, QUARRY & MINING EQUIPMENT LIMITED submitted their most recent company financial report. The company has a Turnover of €30M and their Gross-Profit is €22M.. QUARRY & MINING EQUIPMENT LIMITED reports a Cash of €6M, and compared to the previous year, their Turnover shows a(n) decrease of 4.07%. This change is equivalent to 30.9 million. The report also reflects that the company’s Gross-Profit went up by 24.2 million or 9.35%.



Revenue $7.9M

[klondykejohn] 31/10/2023 23:28

Surely QME is a privately owned company in Ireland.
Does anyone actually know what their turnover is?

[kooba] 31/10/2023 12:20

Labrador Iron Mines 2nd quarter results in a couple of weeks.

Iron ore price pretty steady and in a rising trend , 50% up on a year ago.

[kooba] 31/10/2023 10:58

The £9m was at the time of the dated article setting out the QME terms. The market cap is indeed lower now although there has been progress on a number of fronts. Also the NPV might well be higher than the PEA figure (£96M) once all the data is input moving resources to inferred as a result of drill programmes.

[j5thumbs] 31/10/2023 07:43

Isn't our current market cap nearer to £4.9m, rather than £9m? (420,000,000 x 1.175p) ?