Anglesey Mining PLC Placing of 10 million new shares for £660,000

 
TIDMAYM 
 
21 January 2021 
 
 
Placing of 10 million new shares for £660,000 
 
 
Anglesey Mining plc entered into a placing agreement today through Monecor 
(London) Limited trading as ETX Capital to issue 10,000,000 new ordinary 
shares, representing approximately 4.7% of the company's current issued share 
capital, at 6.6 pence per share to raise a total of £660,000 gross. Application 
will be made for these shares to be admitted to listing on the London Stock 
Exchange. 
 
The proceeds of the issue will be used for general corporate purposes and 
particularly to continue the development of the group's Parys Mountain property 
as outlined in the recent positive Preliminary Economic Assessment for that 
project. 
 
The group will also use utilise some proceeds for the further evaluation of 
other base metal projects at advanced stages suitable for incorporation into 
the group. 
 
In addition to Parys Mountain, Anglesey also has a 12% interest in Labrador 
Iron Mines Holdings Limited which holds direct shipping iron ore deposits in 
Labrador and Quebec where a Preliminary Economic Assessment is currently in 
process on its Houston project. 
 
Anglesey also holds a 20.0% interest, and management rights, to the Grangesberg 
Iron project in Sweden together with a right of first refusal to increase its 
interest by a further 50.1%. 
 
Bill Hooley, Chief Executive stated, "Following the recent release of the 
details of the positive Preliminary Economic Assessment on Parys Mountain, we 
are very pleased with the substantial support shown for the project and for the 
Company with this placing.  We will continue to drive forward with all our 
investments and we look forward to continuing support both from our new as well 
as all our current shareholders." 
 
Admission and Total Voting Rights 
 
The directors have authorised the proposed issue of the new shares under the 
dispensation approved at a General Meeting on 30 October 2020.  The new 
ordinary shares of 1 pence each to be issued in respect of this transaction 
will rank pari passu with the existing ordinary shares of the company. 
 
Following completion of this issue and admission to listing, the issued 
ordinary share capital of the company will be 221,975,732 ordinary shares of 1 
pence each with voting rights; there are no shares held in treasury.  This 
figure may be used by shareholders as the denominator for the calculations 
which will determine whether they are required to notify their interest in the 
company, or any change to that interest, under the Financial Conduct 
Authority's Disclosure and Transparency Rules. 
 
For further information, please contact: 
Bill Hooley, Chief Executive - 07785 572517 
Danesh Varma, Finance Director - 07740 932766 
Thomas Smith, Monecor (London) Limited trading as ETX Capital - 0207 392 1568 
 
 
 
 
END 
 
 

(END) Dow Jones Newswires

January 22, 2021 02:01 ET (07:01 GMT)