When the last fund raise was done on the 25 Sept @ 1p I believe i mentioned on this thread it was essentially time to draw the curtains! I mentioned the price would hang around the 1p mark fr the foreseeable future and it has. Death spiral comes to mind. It is so unfortunate because Parys Mt could work. It will not be cheap (ref Pigeons) but you have to go through all the required motions first and right now AYM is stuck between a rock and a hard place with a generally illiquid market due to increasing global conflict and the uncertainty this brings. |
The latest RNS of the 11 Nov shows shares issued at 1p to cover costs of some £12,300 which will probably be IR/PR-related; perhaps some book keeping. It cannot be auditor-related as this then becomes a conflict of interest. The easiest way to find out is to request the latest share register (give it a week or two for the shares to be registered). If it is IR/PR related then they (the IR/PR Co) need to issue a disclosure saying their opinion is not truly independent. If the shares were issued to an "insider" which I doubt, then that would need to be declared before now. |
My personal opinion is that the directors are deliberately. trying to force the price down. They know the effect. that this news of. paying. a small bill. to a supplier with shares will dropped the price and cause worry. I would say somebody's after the company. The world is struggling. to produce enough copper. at present While there is a world recession on the recession looks as though it's about to. come out of years. of war. So the copper. shortage is going to get even worse worldwide. Places like Anglesey mining where the mining can start. on the cheap. should be in. great demand in the future. Just my thoughts. |
This thread is for discussing AYM. Do you have anything to say with regards to AYM or are you just venting your anger here due your losses at PXC?
Perhaps cut losses and add to profits if you have any? |
OMG .. with the cash they previously raised they still cannot pay their suppliers .. must be close to bankruptcy . One failed placing away from de-listing ? ..
Anglesey Mining plc (AIM:AYM), announces that it has issued a total of 1,229,238 new ordinary shares of 1p each in the Company ("New Ordinary Shares") in satisfaction of amounts owing to certain suppliers, at a price of 1p per share. |
The bank must be bone dry, (again). |
Another confetti placing
What an awful investment |
Thanks calmtrader, appreciated. I look forward in due course to reading anything else you feel able to report. Gla. |
They are obviously limited to what they can tell us but they are definitely engaged with and working hard to monetise the iron ore assets and move away from these small pointless placings |
Thanks calmtrader was there any mention of Parys PFS or when they will move to the funding stage ?Be glad if they got rid of the iron ore but not sure how much that might raise but keen to focus all resources on getting Parys to production. |
Look forward to your AGM report. |
They’re always alleging to work hard, but work hard at what, and in what way? These guys work part-time for a full-time salary. They’ve been very excited about the prospects since there were 200m shares in issue. |
Was over quickly, I suspect they had shopping to do in London. Same old same old. Nothing new then? |
Very good AGMKey takeawaysWorking very hard on monetising both Labrador & Grangesberg Very very keen on moving away from these small market destroying placing & actively looking at better options Post more stuff when I get home |
 Highley1; I agree with you that podcasts and interviews do not make a mine; they do, however, promote the fact there is a brownfield exploration project in the UK/Anglesey that is currently at just less than 1p/share with a market cap sub £5m. I mentioned a company on here the other day; Golden Cariboo Resources; take a look of their media outreach (even within the past 4 weeks) and their results they are getting on fund raisings which are nearly all oversubscribed and the proactive nature and appearance of their President/CEO. This on a market platform in Canada on par with OFEX/PLUS/AQUIS (below the ranking of the AIM) or whatever it is called now. All I'm saying or trying to say is for AYM to up its game on this front. Remember, wherever your jurisdiction, last weeks news for the retail investor (the ones who drive liquidity) is old news and no news equates to a lowering of the share price and then the financing which is so desperately needed is subject to further unnecessary dilution. |
butty
There's plenty of awareness, but podcasts and interviews do not a mine make.
They need access to serious funds to move it forward and I guess at best it's a marginal mine, and for that reason not attractive to potential investors at the corporate level.
So they are left doing tiny financings to keep paying salaries and expenses, and not moving it forward. Do you want to continue to fund that?
With regards to the AIM market, the number of companies is falling all the time. Many people have been burnt by the spiv brokers forward selling placings at the expense of loyal shareholders, whose shareholder value is eroded by the dilution, and have left the market as a result,in my opinion.
It has become a transfer of wealth from investors to the city spivs, and has succeeded, but they're running out of naive newbie investors to fleece, and so its getting harder to fund mainly lifestyle companies where everyone is doing very well, except the investors who are funding it all !!
I think the AIM is in danger of imploding as they run out of inexperienced investors to continue to fund lifestyle companies and the city spivs that feed off them.
92 companies have left AIM this year, and only 10 IPOs!!
I think AIM is finished, killed by city greed, and promotional CEO's of many heavily promoted lifestyle companies. |
I believe Parys Mt can be viable; it just desperately needs a concerted effort to raise the awareness of it. It requires more news, more podcasts and the like of the CEO being more upbeat. The only way AYM will achieve its goals will require much more finance but the dilution which comes with this can be significantly minimised if the company is not reliant on relatively drab news every other month. Honestly, it's like watching paint dry!
The other thing I can't quite comprehend is certain folk keep blaming the AIM, the bucket-shop-like brokers etc.; well the AIM is what it is. CHANGE the brokers to a crowd who are actually interested in the secondary market and who are not hell bent in being part of the ramp prior to a small-scale financing which is then done at a ridiculous discount. Get the right brokers and this perceived negativity with the AIM will fade. |
Trader,
To be fair, AGMs are normlly in London, mainly due to it being the financial centre and all the brokers and fund managers are located there.
If a company holds their AGM outside London, it's generally because they don't want investors attending, IMO. |
dan,
Correct, but maybe Parys just isn't a viable project at all?
Hence the 30 years of failure to move it forwards? |
You will only see progress at Parys if you call out the current and past directors for their failure to achieve nothing other than spend shareholder money |
I think it’s a totally fair and realistic assumption.
Will Battershill be attending? Will he be flying economy class alone? Or will he be flying businesses class and bringing his wife for a few days shopping in central London at the expense of shareholders? |
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