Anglesey Mining Share Discussion Threads

[captj] 09/11/2013 05:17

Speedsgh - hang in there as don't think this is a poor investment just poor management who when they purchased LIM I thought knew what they were doing but in performance since suspect they just got lucky as have done nothing but trip over their own feet since while taking large salaries and showing no support for the stock or ability to generate interest. I'd love someone to take AYM out including the LIM holding as may be better value if they already have a someone lined up to offload Pary's to, providing they do it in shares so I can hopefully get some recompense from having more belief in this than the current BOD. This behaves like an AIM stock and best of those is where BOD have large holdings and invest in the story as it concentrates their mind when their own money is at risk, instead of that of PI's, who seem to be the ever suffering scapegoat of well paid unmotivated and in many cases unscrupulous directors most of whom are fully paid up members of the old boy's club and really just flim flam men in suits where it is who you know not what you know that gets your nose in the trough.
To many Bod's with the same disregard for your money as bankers who mostly consider your money as theirs and get bonuses regardless of how much they lose or mismanage. The real world away from financial markets you get sacked for non performance not rewarded. Se la vie. GLA

[mcmather] 08/11/2013 15:00

LIM's performance on tsx.....

[speedsgh] 08/11/2013 13:11

laserdisc - I am certainly invested here. Upon checking i was surprised to see that i have only been invested since Q2 2011. Feels like I've been invested a lifetime but that is no doubt due to the fact that my pips have been squeaking for so long in relation to AYM. Heavily underwater with my investment + not sure how much longer I can take it. No doubt if I do get out, it will be a good buy signal. Good luck to you too. I'm afraid my confidence in the BOD has been progressively eroded over the past 2.5yrs as they seem past masters at doing diddly squat.

PS I blame no one else for my AYM experience. To take the positives out of it, it has been a good learning curve.

[laserdisc] 08/11/2013 12:25

so they must think that a pipeline could be built in freezing conditions perhaps it could be a shared project with a few in the Trough instead of new rail line.

Also i read that ioc of canada may not be up for sale, as sale price reserve not met, it was only up for sale in first place as rio wanted to reduce their debt levels , which i understand are reducing ,so rio may be considering all options now for ioc

[laserdisc] 08/11/2013 12:22

adrianna in canada are developing taconite some years away but here is an extract from desjardins
Concentrate sales open up new transportation options. Sale of concentrate as a final product will save significant development capital costs and provides the joint venture partners with the option to transport ore to the port at Sept‐Îles by either rail or pipeline, as is planned for the taconite projects under development by New Millennium Iron Corp. (NML, TSX, Hold–Speculative, C$1.60 target). The pipeline transportation option could be an important factor to the ultimate development of the project if rail does not extend to the mine site and if sufficient rail capacity is not added before Lac Otelnuk is ready to begin mining operations.

Read more at hxxp://www.stockhouse.com/companies/bullboard/v.nml/new-millennium-iron-corp?postid=21887671#rsUW45zWAvjXtb1S.99

[laserdisc] 08/11/2013 11:56

morning abergele, i don't know about takeovers but if jk & others think that its that undervalued they could
issue a normal
course issuer bid , whereby they start to re purchase LIM shares.
They have done that before back in 2008 certain restrictions apply on what they can buy each day & limits are imposed to a % buyback from the market.
Problem is that they don't have enough ready avail cash to persue, saying that if they can enter options re sales of iron ore i am sure this option could be considered however it is paid for.
Last time they did that arrangement the were holding $46m in cash back in 2008
I am sure that they want to remain independent but market forces may force their hand .If this lim keeps falling aym could buy into it further by securing Parys for a few million however daft that seems , Over the years they have always seem to pride themselves saying canada's only independently-owned iron ore producer listed on the Toronto Stock Exchange, really i cannot see them wanting to give up contol.
A $1 bid would i think gain control , the share price may seem low but as we know once buyers emerge shares cannot be bought in quantity on open market price rises& cannot be taken out for todays mkt cap hence behind the scenes deals are done with institutions holding large %'s
We will see if they have any positive's next week
despite the sells this morning mm will not reduce the offer price here

[abergele] 07/11/2013 20:18

I did post years ago when LIM were placed higher that we must be of interest for TATA,
What is stopping them making a low ball bid for LIM at this stage now?

or have I missed something in legislation about the company,and other countries buying out chunks of Canada..tia

[laserdisc] 07/11/2013 15:02

thanks noccer thats what i was looking for
quote from article "I wouldn't be surprised if there were no surplus at the end of the year in 2013.

speedsgh if they are having a stand at mines & money it shows they will speak to shareholders openly,i cannot attend but i hope some investors who are located in London will attend & give some feedback on this board. Perhaps this time around in the zinc cycle Parys will be developed if someone comes forward with the funding, the economics of the project depend on metal prices esp Zinc the price of Zinc is going in the right direction at present , if zinc rises further & aym management have not found funding then i would ? management , i have been a shareholder since early 2007 so like many i have stuck with it , i do not intend to sell, i do hope management will deliver in the future if metal prices rise. always been a safe haven for me over the years & despite lims performance & the rail penalties i think lim does have a future even if it merges with nml tata all these aim cos sometimes deliver you got to stay invested & take the longer term view good luck if your invested here

[speedsgh] 07/11/2013 12:24

"angelsey mining will have a stand at Mines & Money conference
Business Design Centre
London 1/12/2013 to 5/12 2013 stand A33"

No doubt they will be showcasing the full range of coffees + biscuits consumed at their offices while watching their investment in LIM diminish on a daily basis + contemplating whether their Parys asset is located in Wales or on the Seine.

[noccer] 07/11/2013 11:28

Good research on the zinc, though looks like in surplus still next year, but by less than 1%, so sensitive to errors in supply or demand estimates.

Still don't understand why lab city is worried about Schefferville work camp 130 miles away. Maybe people fly from Scheffville to Lab City on their off days, they sure don't catch the train as there's only 2 a week and it takes 7 hours from Schefferville to Emeril Jn. I would have thought they would worry more about NML startup, rather than LIM changing which mine they are working.

[laserdisc] 07/11/2013 09:42

Havenpoint thanks for highlighting you me & captj must be holding a few shares
asking 5.65p presently
zinc inventories on the decline read it could be 50,000, next year not got all info but searching


Re Gill i reckon council do not have full facts here, i dont see it as a problem ministers decision end of month. Its just a trf of mining in the same area , same no of workers & contractors no big deal for locals re accomodation migrant workers will not be arriving

[mcmather] 07/11/2013 09:40

Noccer, the first article is dated from mid-october (17th?). Then saw the most recent article - ie following on from the first article - in the telegram from the 28th october 2013 so also posted that.

[havenpoint] 07/11/2013 06:25

Laserdisc: It was me topping up another 100k. The eternal optimist.... Just hope we will see lift off soon.

[noccer] 07/11/2013 00:35

And that note on the Telegram looks like nonsense.. was out over a week ago - unless someone else can tell me otherwise (and not just paste the words on here). Is Schefferville a suburb of Labrador City ? Gill and Redmond are just transferrig capacity from James as it becomes worked out. Houston has so far been the only mine LIM have linked to a substantial increase in production capacity, but that has been in their plans for years. Makes no sense to me - didn't even think it worth posting here.

[noccer] 07/11/2013 00:27

Indeed .. and iron ore now up some more at USD137.10. LIM stock behaviour doesn't match. I think this whole market is still very light on long investors in commods, but that may change.

[mcmather] 07/11/2013 00:23

And more recently:

The Labrador City town council says they need more information on a proposed re-activation of a mine site in the region....

"Something we are concerned with, with regards to the (proposed) Labrador Iron Mines project is that it is not in the town's boundaries," said Mayor Karen Oldford at a regular meeting of council on Oct. 22.

"There are 1100 workers at the mine site, which is operating right now."

Mining will progress from less than 3,000 tonnes per day and will peak at 7,000-10,000 tonnes per day. Construction and production are anticipated to commence in 2014....

Oldford added the plans to increase production from less than 3,000 tonnes per day to a peak of 7,000-10,000 tonnes per day, is also a concern and delegated Council's Development Committee to look into the production impacts further.

[mcmather] 07/11/2013 00:15

Knew about the exploration programme on Gill but didn't know that production was seemingly targeted for next year:

Labrador Iron Mines is proposing to re-activate and mine an ore deposit on the Gill property in the western-central part of the Labrador Trough Iron Range, it was announced today in a provincial government environmental assessment bulletin.....

The company plans to excavate ore from an open pit and truck it approximately 500 metres to the existing Silver Yard beneficiation plant....

Mining will progress from less than 3,000 tonnes per day and will peak at 7,000-10,000 tonnes per day.....

Construction and production are anticipated to commence in 2014.

[laserdisc] 06/11/2013 18:30

angelsey mining will have a stand at Mines & Money conference
Business Design Centre
London 1/12/2013 to 5/12 2013 stand A33

[laserdisc] 06/11/2013 17:24

no problem,
ref to todays trades further 5 trades over on isdx which resulted in 17000 net buys on that exchange,
still think from reading L2 mm require stock .
mm seem intent on dragging this to new lower level if they can, but no sellers taking the bait hence if they don't get the stock they have to increase the bid on any good news
With the 100k buy late on lse maybe mm did not react, see what tomorrow brings

[bodgit] 06/11/2013 17:17

Thanks to those concerned for commenting on 11th November holiday. I see now that it covers all of Canada - except Ontario and Quebec. Good luck all.

[laserdisc] 06/11/2013 17:16

well 100k late buy reported 5.45p

[laserdisc] 06/11/2013 15:48

nml tata create lab with ACCURASSAY

presume lims howse drilling will go down this route if tata have it up & running in 2013 IE says capability to manage more volume for third-party exploration companies in the region.


Accurassay is now pleased to unveil the design and implementation of an automated iron mine lab that will serve the TATA Steel Minerals Canada (TSMC) operations in northern Labrador. The laboratory systems utilized in this facility are state-of-the-art and will be the first iron ore application in the Americas. This presentation will review the needs of the TSMC site, from initial DSO analysis support to the detailed testing requirements for the planned mill start-up in late 2013. Supporting factors for the decision to utilize automated systems will be discussed, ranging from enhanced quality control management to reduced staffing needs to operating cost control. The different mechanized and automated systems will be covered in detail, including the HP M1500 mill and magazine and the HAG4 automated fusion system. The lab will also include two different Bruker XRF instruments, the S8 Tiger and the S8 Dragon, which will manage trace element analyses and the whole rock oxide analyses, respectively. At its peak, the lab will process upwards of 8000 samples per month, with capability to manage more volume for third-party exploration companies in the region.

[laserdisc] 06/11/2013 15:12

I have amended links hope they work .
Our neigbour nml certainly going for production