Anglesey Mining Share Discussion Threads

[noccer] 10/4/2024 10:04

Meanwhile the copper price surges (as does gold, which is at all time highs). Zinc on the up as well, looks like metals are back in favour.

Where are we with the NCZ drilling, seems a while since we heard anything?

[buttyboy] 09/4/2024 22:59

Kooba; we seem to be going around in never ending circles. Retail investors are like sheep; that well trodden path to new and higher pastures (reminiscent of good company news) and that even more trodden path on the way back down (reminiscent of no news or delayed news). Retail, we love them, we hate them but they give us liquidity (at a cost if we don't play ball).

"Me apply"? I'm not the CEO type ... leave it to the professionals !

Now its late, must get my teddy bear and go to bed!!

[kooba] 09/4/2024 21:13

Butty

…surely it cannot be that difficult in today's market to find a new enterprising CEO to run AYM and at least get it 2-3x its current value in the short term with good PR and IR and road trips to reach out to the retail market .... it really isn't that difficult !!

Maybe you should apply you make the worse small company market in decades sound so easy ..bit of spin to the retail and puff the price up..I think that’s been worked already…but retail are an impatient bunch and don’t understand mining development.

[kooba] 09/4/2024 21:06

Seems you forget your own posts so quickly..you directed at me..
“…some of us had great faith in the former CEO to take this to the next level but he left year-end for new pastures down under; perhaps he, Kooba, saw the difficult challenges lying ahead.”

I was merely pointing out reasons why he might have left rather than your challenges take, as pointed out he has stayed on the board so I don’t think that is the case I am allowed an opinion when somebody states things like that.i thought I could give you relevant information backed up by publicly available information..information you assumed I had got through some connection to the company. Try a stick to one line at a time hey !

[buttyboy] 09/4/2024 20:38

Kooba; its not about people knowing more than me; that is totally irrelevant. You seem to be going off on an irrelevant tangent that is of no interest to me. Whatever Jo is getting paid with Silver Mines is immaterial to Anglesey Mining and the fact you have these links to hand suggests to me you are certainly more interested than me in Jo's new adventures. Good luck to Jo.

MiningLamp; you make a valid point regarding the thin and lack of proactivity board. Do you really want AYM to be acquired right now; it is way undervalued; I agree it has some very challenging hurdles to jump but surely it cannot be that difficult in today's market to find a new enterprising CEO to run AYM and at least get it 2-3x its current value in the short term with good PR and IR and road trips to reach out to the retail market .... it really isn't that difficult !!

[bodgit] 09/4/2024 19:32

MiningLamp, I certainly haven't forgotten the statement you refer to. I remain hopeful of a significant share price uplift this year from positive Grangesberg news. That said, Parys may yet surprise me. Gla.

[mininglamp] 09/4/2024 19:24

Folks seem to be forgetting the ex CEO's statement in his last interview where he said they were close to a deal on Grangesberg last year (which would have delivered material value to shareholders) but these things often take longer than anticipated.

He then suggested the new CEO should continue the above process, OK the new CEO has yet to come in but the current thin BOD does make you wonder if AYM are going to be acquired in some way.

Also remember a near 20% stake in AYM changed hands without any explanation or fanfare in H2 last year.

In all, with commodity prices booming the current share price seems an excellent entry point given the possibility of corporate action.

[kooba] 09/4/2024 18:40

Well I’ve never met the man whatever you might think..his links to Austrialia and the time he spent there came up in a telephone conversation. His renumeration is public knowledge so not sure why that makes you raise it with suspicion . It is possible folk know more than you and are not connected to the company you know..it’s not a high bar..

[buttyboy] 09/4/2024 17:32

Kooba; I cannot possibly comment on what salary/fee AYM are going to be paying. I have done some homework though and I estimate that with the finance raised last year minus the drilling program, minus the G&A etc there cannot be much left at all to pay any salary so the quality of person you end up with might not be the best .... fingers crossed this is not the case! But, as you state, the current NEW board are very experienced in arranging finance so let's see at least some proactivity here.

You say you don't know Jo but you certainly seem to know a lot about him, not just his working methodology but also his personal life including taking a new role in Oz for 'multiples of what he was getting at Anglesey' etc.

calmtrader; yes, silver knocking on the door of $28 ... time to go silver exploring!

[calmtrader] 09/4/2024 16:40

Noted the recent performance of Silver..Parys will be producing 400,000 oz per annum for the 12 year life cycle!!!!

[kooba] 09/4/2024 13:54

I did not say I have met Jo…I have spoken to him but am aware of his background.
You assumed I was connected to the company..I am not at all, but tend to do some homework before commenting.

The people experienced in developing a copper mine in this country who can take this to the next level and who are also prepared to take the salary this company has available is probably not a very long list. Lets hope they find the right person whilst realising there is likely not a queue of valid candidates.

[buttyboy] 09/4/2024 13:26

Its not a case of assuming nothing, Kooba; I was assuming, quite validly I must say, something!!

"Best Shot"?? I haven't even loaded the cannon ball yet!! So, why with all this toing and froing, there is not a new person at the helm yet because we can skirt this topic until the cows come home but until that happens this stock is going nowhere. We are past the first week of April so one-quarter of the year has passed already; does this not worry you/we/us?

I have not met, as far as I know, Jo so I don't have your level of his personal details to comment.

[kooba] 09/4/2024 11:13

You really must assume nothing and certainly not make things you do not know up! “We” as in shareholders who own the company..I have nothing to do with the company or its management. I did talk to Jo a few times in the past.
For anyone who has been around a while and has followed events..the current directors are pretty new ..it’s a strange thing to try and pick me up on..but maybe that’s your best shot?
You should ask Jo why he wanted to go and take a job paying multiples of what he was paid at Angelsey taking his wife back to Australia where she comes from and Jo has spent a large part of his career. The fact that he has negotiated to stay on the board here..tells me he is not jumping ship because of challenges! He is a shareholder and put his own money in whilst in post..he has not sold any so is aligned to see value delivered.

[buttyboy] 09/4/2024 10:27

Kooba, regarding your comment on depth of resources, I have since gone through a lot of the previous literature and much of those more interesting intercepts are rather deep and ideally I would like to have seen a higher CuEq grade to partially balance this out. You have previously mentioned the PEA which of course is a Canadian initiative (not really known in the UK) and by its very definition, that is, the "P" in the "PEA" is 'preliminary' which really translates as somewhat semi-quantitative and semi-qualitative (you essentially say this a couple of threads up), hence the need for the PFS.

You previously used "We" in your threads so can one assume you are part of the current team in some form or other? If so, you have a slight advantage over the rest of us sitting on the edge of our seats waiting for news to move this share price from its current 1.3p; some of us had great faith in the former CEO to take this to the next level but he left year-end for new pastures down under; perhaps he, Kooba, saw the difficult challenges lying ahead.

Ref. your comment on NED's; NED's who have been here for 3+ years are NOT new even though you state "relative". I'm not supporting the actions or lack of perhaps of the previous Board but I do think it pointless and somewhat obtuse to openly criticise them given that some have sadly passed and another appears to be on a downward health spiral.

[kooba] 09/4/2024 08:43

Re Neds all the current directors were brought on board in 2021..so relative to the old board now all gone are very new. Kearney had been on the board for well over 20 years when he was voted off and many of the others were on for well over 10 years before stepping down or passing away ! So when I refer to new neds that is the context.

[kooba] 09/4/2024 07:12

The QME deal will though effectively place a value on Parys if exercised. Without there being exact numbers on the aspect of the development cost that QME would undertake it would be a significant component of overall development cost.
“The PEA indicated a pre-production capital expenditure of $99 million.”
“ 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.”

At a guess the mine development component could easily be $30-40m, maybe more? Of the overall pre-production development cost..so if you exchange a 30% interest in the mine for $30-40m of capex and work how does that value the balance?
Also if you have a lump of pre production expenditure covered how would that impact the ability of raising the balance through the alternatives listed as it derisks the funding?

[kooba] 09/4/2024 06:44

The QME agreement is dilutive of the project ownership not the equity of Anglesey Mining.
I’m pretty sure i didn’t say that any alternative funding could be looked at pre PFS ..that was on purpose the QME option only crystallises at the delivering of a PFS and any other financing would be post that. Off take agreements are normally undertaken to fund development so pre production finance as are the other alternatives.You asked alternatives i listed some that could be looked at and then you just try to put anything down. Interesting you are now concerned at the depth of resources when you until recently were concerned it was to be open cast.
Anyway I’m just running a few things up the flagpole

[buttyboy] 08/4/2024 23:34

New AYM NED's; are there any new ones? There are 3 directors listed on the website and they are not new! Have they been proactive in financing to date given WHI have raised money at 28% discount to the then market price?

Off-take agreements? I think you are putting the cart before the horse here ... this is some way off. AYM needs to at least get a PFS or ideally a FS before a deal in favour of AYM happens. Get the new person in at the helm, build a reputable board who are collectively proactive concurrently with raising much needed finance, get the PFS underway and then look at off-take deals. This will be non-dilutive ONLY if you don't default on the supply.

The QME arrangement, unless I'm mistaken, will be dilutive and indeed you say so yourself, Kooba. Indeed, if QME were to come in now, which I would very much doubt, and get equity for development finance, then it will be even more dilutive due to the lower share price and the share price is low given the market doesn't like uncertainty.

Irrespective of what has been said before, you will get the NIMBY Brigade on your doorstep, the better intercepts are not too bad but they are at depth, and there is concern, whether valid or not, over the debt.

[kooba] 08/4/2024 20:48

Copper bonds, off take agreements , farm ins ..we already have some potential finance in place with QME to fund a lump of development cost for an equity stake. That reduces risk to such funding alternatives. Some of the new AYM neds have mining finance backgrounds and am sure are clued up on the possibilities.

[buttyboy] 08/4/2024 19:20

kooba; alternative funding options .... please elaborate?

Cu is on the UP ... slowly but surely and in a sustained way; we don't want it going up too fast otherwise there will be profit taking and it will come down.

[kooba] 08/4/2024 06:22

Copper continues to show strength as do the PMs that are present in Parys, even Zinc is starting to move an important component on first projected mining returns. Should only help sentiment and the alternative funding options to look at.

[buttyboy] 04/4/2024 08:12

Noccer; it doesn't work like that; the resource model will only be updated once all the drilling assay results have been received and even then that may not be the case. They can update the resource model inhouse, if they have the expertise, otherwise it will be outsourced but to outsource it requires £££'s and surely this is something AYM desperately needs. I think the news we are all waiting on is the new BOSS and until that happens then the stock will dwindle because the market does not like uncertainty. Surely a person has been lined up and whoever he/she is, good luck, but why is it taking so long to announce.

[noccer] 03/4/2024 22:58

266k buy late today is still peanuts (about £3.5k), but could be a sign of something in the wind.

There is drilling going on, and we expect they are plugging the numbers into the resource model - but any announcement will require a sign off from outisde, an approved NI43-101 person. Takes time. Though they could always release images of drill cores without any numbers.

Still lots of upside possibilities here though possible fund raise will be downside - but assume they would give us the good news first.

[broshm] 03/4/2024 18:49

What's up Doc ?