Anglesey Mining Share Discussion Threads

[abergele] 18/11/2013 16:56

Hello again Guys,Al,and Laser,
still hanging in,took a gamble top up again,

kept doing the same with MDW, and ,well you know we had an end to our misery there today,and came away with profits ,so not a bad thing waiting,
this has to go back up,it's logical,don't ask me why,but it will,what made it go past 90p 2 yrs back,nowt has changed,it's just the buying power,and maybe some good news,so I am here still Al...

[laserdisc] 18/11/2013 16:39

think that was prior to the labrador ipo 2007.. may have been 2004 perhaps rajaster can post some charts to see where we are heading

[abergele] 18/11/2013 16:01

This TATA fella only has to open his wallet and the change that drops out will buy AYM,
so he has an instant 19% of LIM,the rest he can get with another wallet,
and guess what,he suddenly finds he owns the rights to the ore in Canada that he wants..sounds ok in my book...

[rajaster] 18/11/2013 10:19

4.25p on the bid, sinking hard and fast since friday.

[laserdisc] 18/11/2013 09:13

Cannacord go 40c for lim
2014 mining plans will be known feb 2014
Basically just valuing a mineral resource at Houston
Does not inspire does it
think i will refrain from posting

[eriktherock] 16/11/2013 17:44

Post of the Day
mikehutch2
16 Nov'13 - 15:55 - 2563 of 2571

[laserdisc] 16/11/2013 17:27

LIM $34M EXCH 1.68 £20.2M 15.3% =£3.09M

[laserdisc] 16/11/2013 17:16

yes think i was using £2.5m..
lim could be worth treble if tata bought out the lot. then again could be worth £1m if it were to fail, ie mining licences only. That presentation from friday has been updated, LIM will need up to $25m for next years startup,have Tata come to the rescue for 2014 startup . I think possibly these next 3 shipments only help to pay for present current liabilties due on various contracts , the present accounts show cash & unrestricted cash but i reckon that is needed to pay for this years liabilities.
Wish i could read accounts better

[bam bam rubble] 16/11/2013 17:11

The market cap still looks weighty here

19,289,100 LIM shares worth £2.865m at 25c
Parys on care & maintenance, negligible value at current prices
cash position at end of March 2013: £0.7m -£2.4m long-term liabilities

[laserdisc] 16/11/2013 16:52

PAGE 25 of presentation currently SAYS


Target
Production 2 to 3 million tonnes 10-year mine-life
LIM 30%
interest Up to 1 million tonnes annually


So does this mean that news is imminent Tata increasing stake? & paying lim some more cash . Would lim now have drilling results to complete such a deal
Actually says $25m on presentation

but the last rns says this
Following completion of LIM's $5 million exploration program, and the calculation of a new NI 43-101 resource, HML shall contribute the next $23.5 million to the Joint Venture and thereby increase its participating interest in the Howse Deposit to 70%. It is currently planned to complete a feasibility study by July 2014, with a target for commencement of mine development in 2015 and commercial production in 2016

[laserdisc] 16/11/2013 16:48

PRETTY SURE PRESENTATION HAS BEEN UPDATED FROM YESTERDAY

[laserdisc] 16/11/2013 16:47

THE ACCOUNTS RELEASED SAY 51%

Joint Venture with Tata Steel Minerals Canada
During the quarter, LIM reported that the previously-announced Joint Venture Agreement with TSMC for the
exploration and development of LIM's Howse Deposit has been completed. LIM has sold a 51% participating
interest in the Howse Property to Howse Minerals Limited, a wholly-owned subsidiary of TSMC, and received a
total cash consideration of $30 million.

[laserdisc] 16/11/2013 16:44

HOWSE

CAN SOMEONE CLARIFY DO LIM presently own ONLY 30% INTEREST IN THE PROJECT as i have just looked at yesterdays slide presentation i am sure it said 2m tonnes yesterday am i mistaken has this been updated

[laserdisc] 16/11/2013 16:21

mcmather agree, i see an analyst asked my q is there any penalties on metaloyd contract, seems not a clear answer,No penalties fair enough, but what happens i presume they have to buy ore contracts to fulfill any shortfall obligation. There may be no penalties, but it would be a cost if not fulfilled.
Get out possibly would be to borrow some proceesed ore from Tata & LIM will oblige in some other way.
They seem to be hoping to get a stream of raw ore for 2014 processing from around Houston area or howse, again it wasn't clear. If drilling not complete, how do they know that lot isn't going to be a bad batch full of clay, they have not yet had confirmation that trucks will be avail to move raw ore back to silveryards. Presume they are hoping Tata's truck contract will be used once tata no longer need as rail line will be completed for NML.
Basically costings & finance plans have not yet been done for 2014, i see intention to use Gill to some degree, at least the planning for Gill is in pipeline & ministers decision will be released end of month.
Looking at the figures i don't see much left if its broken up Tata will be certainly interested in mining licences don't understand what that $9m was about, Did the insurance put policy for ore prices cost em about $3.5m?. Seems the spot price of ore is reduced by approx 15% when they take the monthly averages they received $117 tonne.
some of directors were selling lim at $13 its high, but thats in the past . Notice jk did not mention the share price this time around, last conf call thought it was undervalued, think the number of analysts now covering has dropped off to about 7 from 15

[mikehutch2] 16/11/2013 15:55

CaptJ....... I share your feelings of bitterness and discontenment associated with the performance, or lack of performance, from the BOD of AYM, cumulating in the disastrous position in which we find ourselves. I have held shares since 2004. Patience is a virtue, or should I say patience is torturous with the BOD of AYM. They have been banging the drum, waving the flag, and attending the road shows for AYM for many years.
They have dangled the carrot of Parrys Mountain mine re-opening for well over a decade, they have drilled it, re-drilled it, updated resources, everything except making any further advancement in actually mining it!!
We still await the scoping studies that Bill (scoping studies coming soon)Hooley mentioned in 2012! to say we have been strung along is a gross understatement, one excuse after another. Labrador Iron Mines is a disaster story, a complete and utter shambles of mis-management, dilution and debt, borrowing today what we are unable to pay back tomorrow, then what? Perhaps the only way is to raise an on-line petition or similar action involving the Welsh Press (investigative involvement) on behalf of the private investors and forward it to the board.

[mcmather] 16/11/2013 15:24

Can't believe how relatively relaxed and jovial Kearney and the rest of them where yesterday when they have overseen a fall in the LIM share price of around 98% from its peak around April 2011.

[diesel] 16/11/2013 09:27

Maybe it's time for the title of the thread to have a makeover!

[abergele] 15/11/2013 23:22

I am/was glad I forcast a wrong LIM opening,
quite lucky it only performed as bad as it did on the whole.

Have a good weekend all,
Laser,
look out for me in Chester tomorrow,
I will be the one walking about dazzed and poorer..

[laserdisc] 15/11/2013 17:26

looks like this aym is going to be valued only on parys alone as its not certain how startup for 2014 will pan out looking now at Houston ore to supplement 2014
but all costings for that not in , don't know about haulage trucks from houston to silver yards , don't know if they can raise capital for startup , quality of ore ?
disappointed to say the least with the conf call, feel its a def setback

[bratt3] 15/11/2013 16:48

Just when you thought it couldn't get any lower. They are hitting the shipping targets but now the ore is lower quality. You just couldn't make it up with this company.

[mcmather] 15/11/2013 16:39

D'oh; where has that pesky $9m gone??