Anglesey Mining Share Discussion Threads

[buttyboy] 06/3/2024 10:20

On the 17 May last year, AYM raised £1.0m @ 1.5p which was at a discount of 28.5% to the then market price before costs. On the 25 July last year, AYM did a follow-through placing, on the same terms, of £500K. Reading between the lines, it would appear the then CEO was paid shares in lieu of some of his salary. With the drilling programme, metallurgical testwork, G&A etc, much, or nearly all, of this cash will be depleted.

[buttyboy] 06/3/2024 09:58

If someone wishes to sell a large parcel and there are no buyers for that size then the price will drop. A fund raising is imminent (or certainly required) in my humble opinion and this coupled with no 'active' management guidance is going to dictate the price to some extent. An RNS, I think it was from December, mentioned the company was actively looking for a new BOSS (recruitment drive) and here we are, well into 3 months on, and zero news in this regard.

[j5thumbs] 06/3/2024 08:50

I wonder what the story is with all these parcels of 1.1m shares being sold off at 1.266p - well below bid price of 1.35p. Two more this morning. Any clues?

[j5thumbs] 05/3/2024 13:43

Yep. 1.1m dumped at 1.266p. I certainly won’t be adding.

[buttyboy] 05/3/2024 11:53

And here starts the downward spiral !

[calmtrader] 05/3/2024 11:11

Added a few

[j5thumbs] 04/3/2024 19:26

In some ways, maybe AYM have dodged a bullet in not taking up their option to increase their stake holding in Grängesberg (G.I.A.B.). Grängesberg Exploration (now renamed GRANGEX) are a completely different company based just a few miles away from GIAB and who are also a ‘green’ start-up to extract value from tailings in previously defunct iron ore mines in the region. GRANGEX have seem their share price fall from £4.40 last June to 79p at close of trading today. Their market cap has fallen from £64 million to £11.5 million in just 9 months.

hxxps://grangesbergexploration.se/wp/wp-content/uploads/2021/12/GVR21032-Jan-Matts-Tailings-Dam-Scoping-Study-3.pdf

Now I’m sure that someone will point out that Grängesberg Exploration AB and Grängesberg Iron AB are completely separate companies. But they are both ‘green’ small cap start-ups, just a few miles apart, both appearing to seek hefty Capex to hopefully extract iron ore from old tailings, and where there seems little apatite (pun intended) for risk right now.

As they sometimes say, and especially on the AIM market … Alternative Investments are often an alternative to investing.

[buttyboy] 04/3/2024 07:39

kennyp52; an imminent placing is without a shadow of a doubt on the agenda otherwise there will be no money left. Mining is certainly feasible but more resource work, together with a pre-feasibility or feasibility will also need to be updated beforehand. If mining does become an option then the finance for this is generally non-dilutive, i.e. project finance, loan, metal streaming. One of the reasons it is massively undervalued is due to previous lack of guidance and lethargy together with inadequate PR; this corner seems to have changed with the last CEO but now he is gone and there is no management guidance right now and whoever is the new boss will have the main priority of raising finance to take it to the next stage/s. The corporate markets right now are dire and unfortunately their NOMAD and broker are not the sharpest tools in the shed especially as W H Ireland are technically up for sale so everyone is clinging their backsides to their seats awaiting a rebirth!

[benjamin15] 04/3/2024 07:30

Kenny
Seems a lot of people have woken up to that fact, how many salaried staff on the books for a drill once or twice a year .....

[kennyp52] 04/3/2024 07:15

How can this be massively undervalued if no one wants to buy it ? It’s a fair question . The noise is starting again about drill holes etc. This translates into another placing imho. Don’t understand the “mining” comments … if they ever mine Parys they will have to spend a fortune to pull any value out of the ground = huge placing and dilution. It’s valued on the basis of material uncertainty ; i.e. every year it runs out of the placings money.

[calmtrader] 01/3/2024 19:03

Understood but as you have said market cap is silly

[buttyboy] 01/3/2024 19:02

Fingers crossed then but I'm sceptical !

[calmtrader] 01/3/2024 18:39

It really is just a process to get Parys through to mining...and that's exactly what's in place now and being action by Jo( who's still a Non Executive Director) and Andrew..prior to Jo joining nothing happened for 10 years not the building blocks are in place and moving forward..believe me everything that needs to be done is getting done

[buttyboy] 01/3/2024 18:36

j5thumbs; I reckon the price will drop slightly every day now as I calculate there must be a fund raising earmarked for the very near future. Volume will also subside a bit. You will get some buyers trying to prop it up but generally its on a downward curve. I might be looking to increase my holding but I am concerned with lack of direction/management. Who is actually running this company right now? There are drilling results on the horizon but the only thing not on the horizon is a coherent management structure!

[buttyboy] 01/3/2024 18:15

j5thumbs; not to worry; I guessed that!

[buttyboy] 01/3/2024 18:14

Yes, and I find it interesting. However, Jo Battershill has quitted as CEO for other work reasons or so I gather and this is why I referred earlier that now we are starting Month-3 into 2024, the Company still does not have a leader. I see the upside with the right management approach but right now I don't see that.

I met Alan Green a couple of years or so ago and he does the PR & IR for a few companies I know.

[calmtrader] 01/3/2024 15:36

Did you listen to this?https://youtu.be/BcW0KTeV3WM

[calmtrader] 01/3/2024 12:27

Why what's the issue?

[buttyboy] 01/3/2024 12:09

If these guys are driving the project forward then they need to lose the "L" plates and pass the driving test!

[calmtrader] 01/3/2024 11:57

Definitely not rudderless..Jo & Andrew are still very proactive and driving the project forward

[danmart2] 01/3/2024 11:08

Sell Parys mountain, the land is worth more than the market cap

[calmtrader] 01/3/2024 10:23

Nice buy just popped up

[buttyboy] 01/3/2024 09:01

How can a bid rice drop by 5-10p / day, j5thumbs? Do you mean % drop? I price is circa 1.5p with very little volume as i type.