Anglesey Mining Share Discussion Threads

[j5thumbs] 25/3/2024 09:18

Buttyboy, understood and mostly agreed. My reference to 'geopolitical' was actually to highlight the potential upside to AYM being in Wales, and to a lesser extent Grängesberg, both being in largely supportive locations. But so far, the major players seem happy to accept the risks of operating in unstable locations where bribery and violence are the norm.

I wonder how much progress Grängesberg is actually making, given that their neighbours GRANGEX market cap has now slumped further to £12m (from £60m last June). And as for LIM ...

[buttyboy] 24/3/2024 22:00

j5thumbs; "where next" .... how about this as a starting point; don't look at Parys Mt as a mine just yet, instead look at it as an advanced exploration ("Brownfield site") play so the upside is there and remains there, all being well, until all ducks are in a row. The moment you start producing/mining and stop exploring is when your share price levels out at best and we don't wont this happening where we are right now, do we? I agree with past comments, past management have been "off the ball" (I'm being polite), but there is upside here as long as we focus and believe in the way forward. This can be done with the right leadership. Geopolitics doesn't really come into it; the primary project is in Wales, not Angola, Zimbabwe or the DRC, so geopolitically it is safe but there will be hurdles and these hurdles include a challenging CuEq grade and environmental issues, hence the need to treat this as an ongoing exploration play..

[j5thumbs] 24/3/2024 20:03

I think you pretty much summed up AYM’s situation, Kooba … “without a clear route to funding it leaves it at a huge discount due to the uncertainty”. Presumably some of the major players have already run their slide rule over the prospect and not bitten, and I can’t see endless infill drillings changing their minds without some major shift in geopolitics. So where next?

[pigeons] 22/3/2024 16:46

Can not buy or sell at present.

[kooba] 21/3/2024 17:05

This is not the only market cap in small companies that bares little relationship to its true potential underlying value. But i have seen sudden reratings when a wider audience actually does the homework to take a reasonable view of an asset and the likelihood of the company delivering. Here as with other mining projects there appears no shortage of quality data supporting the development though without a clear route to funding it leaves it at a huge discount due to the uncertainty.
I obviously have far more faith in the 185 page PEA signed off by a senior economic geologist pulling the data together but there again i have looked through it. They are a very useful recognised guide to the likely economic outcome of development ..but hey ho.
I have no idea what Boris Johnson has anything to do with this ..it’s quite a straightforward mining proposal thats been festering for years under a previous management that delivered little and now it is finally being moved forward.

[buttyboy] 21/3/2024 16:36

Kooba, you should definitely be in charge of PR and IR for this company; you have shown more pro activity and knowledge in this regard since i cant remember when!

If all this knowledge and independent professional reports are out there, why is AYM dwindling around 1.4p and <6m market cap?

You said it, PEA’s are a basic study of ventures. I’ve yet to witness a PEA correlating with what actually develops (if at all) but hey ho; there is more likelihood of Boris Johnson and Dianne Abbot working together on a new political party!

[kooba] 21/3/2024 16:07

Reading the strategic report in the last report and accounts I think would be of use.

It might clarify some points that you seem confused over.

[spacedust] 21/3/2024 16:06

Gold up
Copper up

This bag if shttt down

[kooba] 21/3/2024 15:59

I suggest you bother reading the PEA..very informative and a globally recognised basic assessment of mining ventures , they are produced by industry experts to a high degree of detail. Obviously PFS is a higher measure which I hope is currently being progressed.

The local community , Welsh assembly and National Government have all shown support for this project. Copper is recognised as a critical metal for ensuring security of supply for meeting net zero targets in the USA and there’s a good chance here too in the near term..though I am aware of only one U.K. based copper project.
A local green energy supply and water supply are in place and Angelsey Mining says it looks to be a sustainable producer , you can check on how they make that claim. There is no green revolution without affordable and abundant effective conducting materials…..copper.

Angelsey is a struggling area with recent closure of a number of big employers.The development of the mine and the operation would create quite a number of local jobs and would be a big boost to the local economy and having a wider impact. ( direct jobs when up and running 150 + ..local ancillary jobs likely far higher.

I don’t mind valid arguments against Parys , if you have any.

[buttyboy] 21/3/2024 15:40

Kooba, you are obviously far more knowledgeable on this topic than me. I would not take too much notice of a PEA; PEA’s are a Canadian teaser to get a company to invest in more drilling and metallurgical test work and entice independent consultants into the realm to make the mineral industry look good. And, I forgot to mention, Wales I see has a newly appointed First Minister and with their 6-month old 20 mph speed limits in most built up areas now being implemented, getting to and from the project will make the past 15-20 years or so of “advancement&#8221; seem like a ripple in the Irish Sea.

Noted your comment on underground mining; I hadn’t realised, my error.

[kooba] 21/3/2024 15:16

There was never an intention of any open cast surface mining all subsurface access through existing mine shaft. And the PEA has already shown it to be very economically viable with the indicated resources from several years ago.. that figure is being enhanced by further drilling firming up resources and the proven better recovery grades and improved PM credits. The grades are certainly economic ..I’m sure the PEA is properly considered not just made up with limited knowledge.
To refresh

Current metal prices would transform that NPV to over $250m.
To refresh NPV


It is not the company’s responsibility to clean up the historic mining area which is a protected site in its current form anyway and already have spoil plans in place for underground mining..though I believe they have offered to tidy elements of the wider site as a voluntary decommissioning gesture.

It would be good to get some clarity on management I agree but best to stick with some facts on the project.

[buttyboy] 21/3/2024 14:57

Kooba, the first video, shot with a drone obviously, is interesting; it shows what is a very heavily oxidized environment hence the open-pit operation in its day (there will be no roots, Welsh or otherwise, breaking through that ground!). Today though, you wont get away with that, so it is underground or bust and with the combined metal grades so far, BUST is potentially where this will go …. UNFORTUNATELY. Lots more drilling required, lots more funding required, and make sure there is a rehab fund because looking at the nature of the heavily oxidized surface any stagnant water there will be highly acidic.

The second link is that chap Alan Green whose name is on some of the more recent RNS’. He might be just a little bit biased.

I sincerely pray they rearrange themselves and deliver shareholder value for once.

[kooba] 21/3/2024 13:06

No PR background no…and i don’t even know what you mean by ghost directors? Shadow directors? Are there any??
I have been invested in the idea and the company for several years..predominantly the Parys asset…maybe my Welsh roots coming out. I alighted on the company when i was looking for small copper plays that might attract interest on the net zero wave many years ago ..that has not proved to be a wave that floats many boats.
But the economics of the project are compelling and i hope they find a way to deliver value to shareholders.
I trust your holiday and visit to the mountain goes well.

The Angelsey Mining operation shown here in context

[bigbigdave] 21/3/2024 12:51

buttyboy, see you in the Sandymount, going over for Easter too :o)

[buttyboy] 21/3/2024 12:46

Kooba; have you by any chance a PR background or are you one of the ghost directors? You seem to be very pro this project and company, which is great (I do want to realize a gain!) but it can have all the upside north of Milton Keynes but if there is no one to make it happen then we might as well pi55 into the wind.

If what you say is correct and much of the site is freely available then i might just swing by there and see for myself.

[kooba] 21/3/2024 12:14

Maybe give Anglesey Mining plc
Andrew King, Interim-Chairman – Tel: [phone]
Why not give him a bell to discuss concerns and access?
I always found Jo happy to have a decent conversion within MAR rules.
I think though that much of Parys historic site is freely accessible and is a tourist attraction as such..as has been the backdrop of a number of films/tvshows.
The market in small mining companies and small companies generally is not a great space for effective funding right now and maybe there are alternative strategies to progress the project …but i firmly believe that they have a highly economic and readily developable asset there which has significant value over the current market capitalisation .It could also provide a much needed boost to the local economy and i strongly hope they get this funded and developed.

[buttyboy] 21/3/2024 11:59

Kooba, you are correct, I am all over this with negative sentiments and funding or lack of, together with general incompetence, justifies my concern/s. I am a shareholder; I bought in a couple of years or so ago at a price much higher than the current 1.4p; this i could live with if I intend to be in longer term, which I am, but what really does concern me is lack of management. I know I keep harping on about this but until this changes for the better then I will continue to ‘harp’ on. Over the upcoming Easter break, I will be visiting Anglesey with my family (my daughters are keen surfers and I might just swing by Parys Mt (can’t be that far from Rhosneigr) and see for myself what is going on. I was thinking of writing to management to get prior approval but there doesn’t seem to be any so my request will probably fall on deaf ears!!

[buttyboy] 21/3/2024 11:43

Wassapper; the Parys Mt. VMS is small by comparable standards. Also, one VMS does not point to others in the vicinity. Even if this was the case, does AYM own or have access to sufficient adjacent land? I couldn’t recall what happened at the last AGM so I just re-checked the relevant RNS; the Chairman was voted off and the COSEC resigned a week or so later. The CEO, from a later RNS, was resigning effective year-end and unless I’ve missed some important facet, none of these have been replaces, barring an interim Chairman. An RNS late last year mentioned they were sourcing new management; what’s happening here? April 1st is fast approaching!

[kooba] 21/3/2024 10:52

Buttyboy..you seem to be all over this all of a sudden with mostly negative comments over the funding. As you say you are a shareholder what attracted you to this small unfunded play and what do you think they should be doing better..your comments above seem to suggest they are doing the right thing in maximising the indicated recoverable ..then a PFS then funding..am i missing something. What can they do differently? Maybe put the whole project up for sale??
QME option comes on completion of PFS so that is why it is important to have the time to PFS better defined as i was commenting on
Anglesey will grant to QME the right and option, upon completion of a pre-feasibility study, to undertake the mine development component of the Parys Mountain project, to the point of commencement of production, in consideration of which QME would earn a 30% undivided joint venture interest in the Parys Mountain project.

[wassapper] 21/3/2024 10:17

Small? It is very large and where there is one VMS there's probably others. Watch the video above. What we need more than good drill results right now is, as I pointed out in Dec and others including Butty have done, is a good management team to promote and push the project forward. Lord knows what happened at the AGM and why. Many applauded changes at the time, but it appears to have caused only gridlock.

[buttyboy] 21/3/2024 10:08

kooba; a PFS is going to cost a lot of £'s and before that is contemplated they need to increase the resource category and get "measured" into the fold (this involves lots more drilling and at approx £150/metre its expensive). In principle, nothing wrong with this EXCEPT the share price is falling or stagnant at best, so any new fund raising will be done, IMHO, at 1p if they are lucky. Also, as it stands, for this sort of mineral deposit (VMS), it is small hence significant expansion is required. Too premature for QME decisions IMO.

[kooba] 21/3/2024 09:54

A key question is when might shareholders expect a PFS to be in place..that is a point where QME need to decide if they are to fund a large chunk of the underground work in bringing the project to production ..which would be a big factor in bringing in alternative finance to fund the balance. The economics of the project are getting better all the time as the grades come in from NCZ and they can add to the already significant and highly economic indicated reserves.
Small mining shares are so off the radar but I’m sure the mid sized miners would love a well sorted highly profitable copper and PM prospect in a stable country with good infrastructure on a brownfield site with local and govt support and mining permitting already fundamentally agreed. A very deliverable mine in a short timeframe for the industry. If copper moves to new ground there may be a rush to secure such projects near term.

[buttyboy] 21/3/2024 09:05

It's about time WHI got their act together and produced something sort of meaningful. Many in the know have little faith in anything WHI produces but arguably that can be said for a lot of brokers in this current market. Whilst I agree AYM is quite undervalued and the price of copper is heading on a vertical trajectory, the simple fundamental fact remains that there is no coherent management there. The current price is 1.35-1.40p with little liquidity. A shed load more work needs to be done at Parys Mt. before the word "mine" comes into the vocabulary and this is going to take a lot of £££££.

[mininglamp] 21/3/2024 07:59

New broker note on AYM, they retain a 11p target and value Parys Mountain at circa 5.5p alone

The link to the note can be found in the tweet below.

[kooba] 21/3/2024 06:18

Not sure if anyone is following the value of the asset in the ground and major factor around developing an already highly attractive project?