Proactiveinvestors Australia Anglesey Mining PLC https://www.proactiveinvestors.com.au Proactiveinvestors Australia Anglesey Mining PLC RSS feed en Tue, 16 Jul 2019 08:43:47 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - ANGLESEY MINING PLC - Placing completed - Shares Admitted to Listing ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201905170323PR_NEWS_UKDISCLO_0013/ Fri, 17 May 2019 17:23:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201905170323PR_NEWS_UKDISCLO_0013/ <![CDATA[RNS press release - ANGLESEY MINING PLC - Placing of new shares for £0.2 million ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201904290200PR_NEWS_UKDISCLO_0011/ Mon, 29 Apr 2019 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201904290200PR_NEWS_UKDISCLO_0011/ <![CDATA[RNS press release - ANGLESEY MINING PLC - Update on Parys Mountain Optimisation Study ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201901220200PR_NEWS_UKDISCLO_0008/ Tue, 22 Jan 2019 18:00:00 +1100 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201901220200PR_NEWS_UKDISCLO_0008/ <![CDATA[RNS press release - ANGLESEY MINING PLC - Interim report for the six months to 30 September 2018 ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201811300200PR_NEWS_UKDISCLO_0007/ Fri, 30 Nov 2018 18:00:00 +1100 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201811300200PR_NEWS_UKDISCLO_0007/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20181126164042_13880785/ Tue, 27 Nov 2018 03:40:42 +1100 https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20181126164042_13880785/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20181126163541_13880795/ Tue, 27 Nov 2018 03:35:41 +1100 https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20181126163541_13880795/ <![CDATA[RNS press release - ANGLESEY MINING PLC - Optimisation Study on Parys Mountain Mine Project ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201811260200PR_NEWS_UKDISCLO_0010/ Mon, 26 Nov 2018 18:00:00 +1100 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201811260200PR_NEWS_UKDISCLO_0010/ <![CDATA[RNS press release - ANGLESEY MINING PLC - Results of AGM voting / Total voting rights ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201809210510PR_NEWS_UKDISCLO_0040/ Fri, 21 Sep 2018 19:10:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201809210510PR_NEWS_UKDISCLO_0040/ <![CDATA[RNS press release - ANGLESEY MINING PLC - Final Results for year ended 31 March 2018 ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201807311131PR_NEWS_UKDISCLO_0109/ Wed, 01 Aug 2018 01:31:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201807311131PR_NEWS_UKDISCLO_0109/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20180601110547_13663704/ Fri, 01 Jun 2018 20:05:47 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20180601110547_13663704/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20180601110034_13663687/ Fri, 01 Jun 2018 20:00:34 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20180601110034_13663687/ <![CDATA[RNS press release - ANGLESEY MINING PLC - Half-year Report 30 Sept 17 ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201711300200PR_NEWS_UKDISCLO_0008/ Thu, 30 Nov 2017 18:00:00 +1100 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201711300200PR_NEWS_UKDISCLO_0008/ <![CDATA[News - Anglesey Mining sees movement at Parys Mountain as base metal prices climb ]]> https://www.proactiveinvestors.com.au/companies/news/188039/anglesey-mining-sees-movement-at-parys-mountain-as-base-metal-prices-climb-188039.html Anglesey Mining plc (LON:AYM) is hopeful it can get its Parys Mountain prospect into production by 2020 following the sharp rally in base metal prices.

“It is now opportune to move forward with the development of the Parys Mountain base metal project in North Wales and we are putting in place a number of key elements to facilitate this,” said chairman John Kearney.

This coming year will be critical for the development, he added in the company's statement.  

WATCH: Anglesey Mining sees movement at Parys Mountain as base metal prices climb

“We need to manage the transition to an expanded management team which will be instrumental in raising funds in what remains a demanding market, particularly for equity capital in the smaller resource company sector.”

Helping Anglesey is the recovery in price of a number of base metals contained within the deposit.

A scoping study prepared during the current half year indicated a mine capable of producing 1,000 tonnes per day of copper, lead and zinc concentrate or approximately 22,000 tonnes per year.

That study used a copper price of $US2.50 per pound, zinc at $US1.25 per pound and lead of $US1.00 per pound to generate a net present value of $US43mln. 

Copper is now selling at around US$3.10 per pound, zinc at US$1.45 per pound and lead at U$S1.10 per pound, which would boost the numbers considerably if sustained.

Next steps include the start of an environmental impact assessment; the conversion of the scoping study to a definitive feasibility study; identifying project finance and recruiting key staff.

READ: Anglesey Mining targeting production in 2020 for Parys project as metals prices rise

Planning permissions remain in good standing but will be reviewed during the feasibility study, Kearney added.

Elsewhere, activity at both Grangesberg and Larador remains at a low level due to the weak iron ore price.

The loss for the six months to 30 September 2017 was £167,000 compared to £136,000 for the comparative period.

Shares rose 4% to 2.99p.

-- adds video--

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Thu, 30 Nov 2017 09:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188039/anglesey-mining-sees-movement-at-parys-mountain-as-base-metal-prices-climb-188039.html
<![CDATA[Media files - 'It's all coming together' at Anglesey's Parys Mountain zinc-copper-lead project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/8436/-it-s-all-coming-together-at-anglesey-s-parys-mountain-zinc-copper-lead-project-8436.html Wed, 29 Nov 2017 09:00:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/8436/-it-s-all-coming-together-at-anglesey-s-parys-mountain-zinc-copper-lead-project-8436.html <![CDATA[RNS press release - ANGLESEY MINING PLC - Parys Mountain Project Update ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201709080200PR_NEWS_UKDISCLO_0009/ Fri, 08 Sep 2017 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201709080200PR_NEWS_UKDISCLO_0009/ <![CDATA[News - Anglesey Mining targeting production in 2020 for Parys project as metals prices rise ]]> https://www.proactiveinvestors.com.au/companies/news/183653/anglesey-mining-targeting-production-in-2020-for-parys-project-as-metals-prices-rise-183653.html The recent uplift in base metals prices has prompted Anglesey Mining plc (LON:AYM) to shift up a gear in developing its Parys Mountain project - aiming to complete a definitive feasibility study in the first half of next year.

Assuming financing talks are well advanced by the middle of next year, construction at the North Wales site could start before the end of 2018 and initial output in the first half of 2020, the firm said.

WATCH: 'It's all coming together' at Anglesey's Parys Mountain zinc-copper-lead project

The recent rise in metals prices have given a boost to the project's fundamentals.

Since July's scoping study, all metals to be produced at the mine have risen, with copper now at US$3.10 per pound, compared to US$2.50 a pound two months ago.

Zinc has increased to US$1.40 per pound compared to US$1.25 per pound in the study and lead has moved to US$1.09 per pound compared to US$1.00, Anglesey said.

Using the July prices, on a base case the pre-tax net present value (NPV) is US$33.2mln, or £26.6mln and an indicated internal rate of return (IRR) of 28.3%.

But using the longer term metal price projections (US$1.35 for zinc and US$3 for copper) the NPV rises to $43.2mln, or £34.6mln and the IRR  moves to 33%.

Moreover, the July study was based on only the 2.1mln tonnes of indicated resources reported in 2012.

READ - Anglesey studies now modelling reduced costs and increased output at Parys Mountain

Consultant Micon had also reported a further 4.1mln tonnes of inferred resources which were not incorporated in the scoping study .

Anglesey reckons a high proportion of these inferred tonnes will be converted into indicated probable reserves once exploration drilling from underground takes place.

These would be processed through the same plant and would significantly increase the projected 8 year life of the mine to 15 or 18 years and enhance the NPV.

Major steps in the short term then that Anglesey will now take at Parys include beginning an environmental impact assessment and converting the scoping study to a DFS.

It also aims to kick off talks with potential providers on project finance, including investment funds, metal traders, smelters and banks.

Beaufort Securities repeated a 'speculative buy' on the shares saying today's news was positive and set out a development timeline

Whilst more detailed work is required to complete the DFS which will provide the platform for project funding discussions, we continue to be encouraged with the initial economics and look forward to further updates as Anglesey executes its planned timetable for developmentm, it said.

Anglesey shares shot up almost 24% to 3.63p on Friday. 

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Fri, 08 Sep 2017 07:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183653/anglesey-mining-targeting-production-in-2020-for-parys-project-as-metals-prices-rise-183653.html
<![CDATA[News - Anglesey Mining moving ahead nicely at Parys Mountain ]]> https://www.proactiveinvestors.com.au/companies/news/183598/anglesey-mining-moving-ahead-nicely-at-parys-mountain-183598.html Anglesey Mining plc (LON:AYM) has been listed on the main board of the London Stock Exchange longer than any of its peers, on the strength of a more than two thousand year old asset.

The company’s Parys Mountain copper-lead-zinc project on Anglesey has yet to be mined as metals prices haven’t quite been able to support an economic case for a restart, but a continuing focus on refining the resource and reducing envisaged costs means that there is a good chance metal will start coming out of Parys before too long.

READ: Anglesey studies now modelling reduced costs and increased output at Parys Mountain

In the meantime, Anglesey has been active in the market in acquiring stakes in other projects overseas, including a 6% stake in the Grangesberg iron project in Sweden and the Labrador Iron Mines project in Canada

Parys Mountain economic study demonstrates viability

Economic modelling by Micon has shown that Parys Mountain could be mined at the rate of 1,000 tonnes per day to produce an average annual output of 14,000 tonnes of zinc concentrate grading 57% zinc, along with 7,200 tonnes of lead concentrate at 52% and 4,000 tonnes of copper concentrate at 25%.

The mine life would be eight years, based around the existing indicated resource, and the overall net smelter return of that production would likely to amount to more than US$270 mln at the forecast metals prices used in Micon’s modelling.

If higher metals prices are envisaged the internal rate of return for the mine could run as high as 33%.

What’s more, the project has planning permission so once the financing is in place the path to production looks pretty clear.

Chief executive upbeat about prospects

“We are very pleased with the results of the scoping study which demonstrate a viable mine development at Parys Mountain and a healthy financial internal rate of return,” says chief executive Bill Hooley.

“The base case economic model at 1,000 tonnes per day indicates a robust project at consensus forecasts for the long-term prices of zinc and copper. This is the first detailed economic study of the Parys Mountain project for a number of years and, based on the current availability of reconditioned process plant, the estimated pre-production capital cost for the project is at a level that could be financeable.”

Metal price environment increasingly favourable

The global economy continues in growth mode in spite of ongoing political uncertainty, and base metals prices have recently hit four-year highs. This means that there’s likely to be increasing appetite in markets to stump up the US$53 mln that Micon estimates will be required to put Parys into production.

Not only do the newly improved prices make for better-looking financial models, but they also render it more likely that the 4 mln tonne inferred resource at Parys could be brought into the picture.

Iron ore portfolio coming to life too

The iron ore price has been in the doldrums in recent years, but is now enjoying something of a renaissance.

That is likely to mean that Anglesey’s 6% interest in Grangesberg Iron in Sweden and its 11.9% of Labrador Iron Mines assume a greater significance, although Labrador Iron is currently going through the final stages of a financial reconstruction.

 

 

 

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Thu, 07 Sep 2017 10:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183598/anglesey-mining-moving-ahead-nicely-at-parys-mountain-183598.html
<![CDATA[RNS press release - ANGLESEY MINING PLC - Result of AGM / Total voting rights ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201709040201PR_NEWS_UKDISCLO_0011/ Mon, 04 Sep 2017 16:01:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201709040201PR_NEWS_UKDISCLO_0011/ <![CDATA[RNS press release - ANGLESEY MINING PLC - Annual Report and Notice of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201707310200PR_NEWS_UKDISCLO_0014/ Mon, 31 Jul 2017 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201707310200PR_NEWS_UKDISCLO_0014/ <![CDATA[RNS press release - ANGLESEY MINING PLC - Positive Results of Scoping Study ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201707240200PR_NEWS_UKDISCLO_0009/ Mon, 24 Jul 2017 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201707240200PR_NEWS_UKDISCLO_0009/ <![CDATA[News - Anglesey studies now modelling reduced costs and increased output at Parys Mountain ]]> https://www.proactiveinvestors.com.au/companies/news/180206/anglesey-studies-now-modelling-reduced-costs-and-increased-output-at-parys-mountain-180206.html Anglesey Mining plc (LON:AYM) expects costs to be down and output to be up in studies evaluating the economic potential of a base metals mine at its Parys Mountain project in Wales.

The company stated in May that earlier models were being modified to examine increased throughput alternatives at 700 and 1,000 tonnes per day, as against the 500 tonnes per day used initially. 

Between them, the company’s two consultants, Micon and Fairport, are at this stage indicating that the project could be effectively modelled using reduced operating costs and increased annual production.

It was previously expected that an increased annual production rate would usually result in a significant increase in capital costs. Whilst it is expected that there will be some increase in capital costs these are likely to be less than previously expected and together with the production and operating cost adjustments should justify the increased production approach.

Anglesey’s current plan is that the results of the scoping study will be announced ahead of the publication of the Annual Report and Accounts this month.

The current JORC Code compliant resource estimate for Parys Mountain stands at 2.1 million tonnes at 6.9% combined base metals in the indicated category and 4.1 million tonnes at 5.0% combined base metals in the inferred category.

 

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Mon, 03 Jul 2017 08:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/180206/anglesey-studies-now-modelling-reduced-costs-and-increased-output-at-parys-mountain-180206.html
<![CDATA[News - Anglesey Mining mulls accelerated development of Parys Mountain ]]> https://www.proactiveinvestors.com.au/companies/news/177714/anglesey-mining-mulls-accelerated-development-of-parys-mountain-177714.html Anglesey Mining plc (LON:AYM) is to assess whether an accelerated development is the best option for a development of its Parys Mountain prospect In Wales.

A scoping study is currently ongoing but Anglesey is now mulling whether a throughput of 1,000 tonnes per day rather than 500 tonnes would be more economic.

Using dense media separation, an ore sorting technique, would increase the effective daily production rate by about 40% with only a limited increase in capital. 

That would mean a shorter mine life but potentially better returns. Construction of a larger processing plant with a higher throughput rate could also be justified on that basis even capital costs would be higher, Anglesey said.

Parys Mountain has indicated resources of 2.1mt of copper, lead, zinc but an inferred resource of 4.1mln tonnes, which can be upgraded with the development work and extend the mine life considerably said the junior.

Anglesey has now asked its scoping study consultants Micon and Fairport to consider alternative production and throughput scenarios of between 500 and 1,000 tonnes per day.

Modified mine production schedules and alternative capital cost estimates will arrive in the near future. 

These will be incorporated into updated financial models, with an optimised development scenario available before the end of June.

Shares eased 3% to 4.26p.

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Fri, 12 May 2017 09:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/177714/anglesey-mining-mulls-accelerated-development-of-parys-mountain-177714.html
<![CDATA[News - Anglesey raises new cash for Parys scoping study ]]> https://www.proactiveinvestors.com.au/companies/news/176502/anglesey-raises-new-cash-for-parys-scoping-study-176502.html Anglesey Mining (LON:AYM) is to issue 5 mln new shares at 4.5p each to raise a total of £225,000 gross and £213,750 net.

The money raised will be used for general working capital and for the continued development of the Parys Mountain poly-metallic project in North Wales.

Parys is already known to contain 2.1 million tonnes at 6.9% combined base metals in the indicated category and 4.1 million tonnes at 5.0% combined base metals in the inferred category.

An updated scoping study is being prepared by Micon International Limited and by Fairport Engineering Limited.  

This study is working over previous estimates of potential capital and operating costs, and will incorporate the use of second-hand plant to minimise expenditure wherever possible. 

Recent increases in base metal prices over the last few months together with the lower level of sterling compared to the United States dollar are also expected to be positive for the project economics.

The study is nearing completion and is expected that the report will be available shortly. When the report is completed Anglesey will commence discussions on funding with interested parties.

“We are very pleased to announce this financing which shows the continued support for Anglesey Mining and for its projects from sophisticated institutional investors in the resource industry,” said chief executive Bill Hooley. 

“We believe that such support is both positive for the development of the project and as an indicator that investor interest in the base metals sector has returned and that the outlook for the metals that will be produced from Parys Mountain is positive”.

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Tue, 18 Apr 2017 07:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/176502/anglesey-raises-new-cash-for-parys-scoping-study-176502.html
<![CDATA[News - Anglesey Mining raises £225,000 for work on Parys ]]> https://www.proactiveinvestors.com.au/companies/news/175056/anglesey-mining-raises-225000-for-work-on-parys-175056.html Anglesey Mining plc (LON:AYM) is raising £225,000 via a placing of 5 mln shares at 4.5p.

The money raised will be used for general working capital and for the continued development of the Parys Mountain polymetallic project in North Wales.

An updated scoping study on the potential for economic development work at Parys is being prepared jointly by Micon International Limited and by Fairport Engineering Limited.

This study is reviewing potential capital and operating costs, including the use of available second-hand plant, to minimise capital expenditure wherever possible. 

“We are very pleased to announce this financing which shows the continued support for Anglesey Mining and for its projects from sophisticated institutional investors in the resource industry,” said chief executive Bill Hooley. 

“We believe that such support is both positive for the development of the project and as an indicator that investor interest in the base metals sector has returned and that the outlook for the metals that will be produced from Parys Mountain is positive”.

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Mon, 20 Mar 2017 09:01:00 +1100 https://www.proactiveinvestors.com.au/companies/news/175056/anglesey-mining-raises-225000-for-work-on-parys-175056.html
<![CDATA[News - Anglesey Mining soars as Labrador Iron Mines is let off the leash ]]> https://www.proactiveinvestors.com.au/companies/news/170614/anglesey-mining-soars-as-labrador-iron-mines-is-let-off-the-leash-170614.html Anglesey Mining plc (LON:AYM) soared after the restructuring of Labrador Iron Mines Holdings Limited (LIMH), in which it has a large stake, was approved.

LIMH's (TSE:LIM) restructuring has been approved by the Ontario authorities and should go through next Monday.

Creditors of Labrador will be issued around 22% of the share capital of Labrador, and also 49% of the shares of its operating subsidiary.

Anglesey's stake will be diluted down from 15% to about 11.9%, leaving it as the second largest shareholder.

“We are very pleased to see LIMH passing this major milestone which will leave it debt free and with all its major assets intact,” said Bill Hooley, chief executive of Anglesey. 

“As a significant shareholder in LIMH we look forward to the future development of its iron ore assets in Labrador when the economic climate is right, and to other opportunities that LIMH is now in a position to pursue,” he added.

Meanwhile Anglesey, which is the owner of the Parys Mountain underground zinc-copper-lead-silver-gold deposit in Wales, revealed it has now completed its previously announced share placing, from which it raised a total of £310,200.

Shares in Anglesey were up 19% towards the end of trading in London on Friday.

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Fri, 16 Dec 2016 14:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170614/anglesey-mining-soars-as-labrador-iron-mines-is-let-off-the-leash-170614.html
<![CDATA[Media files - Anglesey Mining PLC keen to press the 'go' button as commodities emerge from "four-year winter" ]]> https://www.proactiveinvestors.com.au/companies/stocktube/6501/anglesey-mining-plc-keen-to-press-the-go-button-as-commodities-emerge-from-four-year-winter--6501.html Wed, 30 Nov 2016 14:18:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/6501/anglesey-mining-plc-keen-to-press-the-go-button-as-commodities-emerge-from-four-year-winter--6501.html <![CDATA[News - Anglesey Mining brings in £310,200 to advance Parys project ]]> https://www.proactiveinvestors.com.au/companies/news/169736/anglesey-mining-brings-in-310200-to-advance-parys-project-169736.html Anglesey Mining plc (LON: AYM) has raised £310,200 via a placing to advance its Parys mountain zinc-copper-lead deposit in North Wales.

It will issue 12mln new shares at 2.585 pence each to institutions. Shares closed yesterday at 3.25p each.

Chief executive Bill Hooley said: “We are very pleased to announce this financing, which represents significant support for Anglesey Mining, and we look forward to completion of the updated scoping study and to expedite development of the Parys Mountain project.”

Parys has a resource of 2.1 million tonnes at 6.9% combined base metals in the higher confidence indicated category and 4.1 million tonnes at 5% combined base metals in inferred.

 An updated scoping study is currently being prepared by Micon International Limited and Fairport Engineering Ltd, both of which are acknowledged experts and leaders in the resources sector, the group said.

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Wed, 30 Nov 2016 07:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/169736/anglesey-mining-brings-in-310200-to-advance-parys-project-169736.html
<![CDATA[News - Anglesey looks to Parys and positive metals prices ]]> https://www.proactiveinvestors.com.au/companies/news/169198/anglesey-looks-to-parys-and-positive-metals-prices-169198.html Shares in base metals and iron ore focused Anglesey Mining plc (LON:AYM) shot up as it gave a favourable assessment on the outlook for the business and metals prices.

The owner of the Parys Mountain project

Anglesey is the owner of the Parys Mountain underground zinc-copper-lead-silver-gold deposit in Wales, where it is updating earlier scoping and economic studies.

The site already has a resource of 2.1 million tonnes at 6.9% combined base metals in the higher confidence indicated category and 4.1 million tonnes at 5% in inferred.

The company also holds a 15% stake in Canada-listed Labrador Iron Mines which has direct shipping iron (DSO) ore deposits in Labrador and Quebec, while a more recent addition has been a direct 6% interest in the Grangesberg iron ore project in Sweden and a right of first refusal over a further 51%.

Chairman John Kearney told investors: "With recent political developments in the UK and the United States, coupled with the likelihood of renewed stimulus investment in China, we feel that there is sound reason to believe that the future outlook for the commodity prices which are important to Anglesey Mining is very positive."

He homed in particularly on the Parys Mountain site, where zinc is likely to be the main metal produced during the early years of the mine.

Zinc likely to be big driver

Zinc has been one of the strongest performing metals in 2016, rising 50% from US$0.70 per pound at the end of 2015 to US$1.15 per pound recently, while the demand fundamentals have  been improving over the last five years.

Precious metals prices  have been supported by macro economic uncertainty, while lead has also performed well this year rising from US$0.75 per pound at the end of 2015 to US$0.95 per pound in the third quarter.

The prospect of big infrastructure spending by newly elected Donald Trump has also buoyed metals - particularly copper and iron ore and zinc, which is linked to steel making.

Anglesey expects the new scoping study for Parys to form a solid base from which to move the project towards production

"We expect that capital costs of developing Parys Mountain will be lower in today’s less competitive environment and, coupled with positive changes in exchange rates, could make the project attractive at expected metal prices."

Iron ore has been decimated but signs of Chinese consumption continue to increase and it is now selling at US$74 per tonne on a 62% (the higher quality used in steel) iron basis.

Kearney says longer term steel consumption in China must catch up with levels in the west, which would see at least a doubling in iron ore and zinc demand.

Grangesberg has favourable grades

At Grangesberg, technical reviews continue. Notably, the high grade of concentrate to be produced from the project, along with infrastructure and potential sales within Sweden’s domestic markets, remove the need for major port facilities and expensive shipping costs.

At Labrador Mines a plan is in train intended to restructure  the business and refinance an orderly resumption of its iron ore mining activities when economic conditions warrant.

If the plan is implemented as expected, Anglesey’s holding will be diluted by around 25%.

What about the financials?

In the six months to September 30, there was no revenue, while the loss before tax was £124,576 (2015: loss of £135,949.

The group holds cash of £40,608 versus £7,970 at the same time last year.

Additional financing will be required for working capital to maintain the group and carry out planned progress at Parys Mountain.

Anglesey shares rose nearly 17% to stand at 2.625p.

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Fri, 18 Nov 2016 12:29:00 +1100 https://www.proactiveinvestors.com.au/companies/news/169198/anglesey-looks-to-parys-and-positive-metals-prices-169198.html
<![CDATA[News - Anglesey Mining knows of no reason for share activity ]]> https://www.proactiveinvestors.com.au/companies/news/169065/anglesey-mining-knows-of-no-reason-for-share-activity-169065.html Anglesey Mining plc (LON:AYM) today noted the high level of  trading in its shares but said it was unaware of any reason.

Today, shares are down almost 23% to 2.125p, having yesterday closed at 2.75p.

But that was after a near 96% increase in the price of the stock since November 11 (Friday), when shares closed at 1.40p.

Anglesey has interests in iron ore and base metals and olds 100% of the Parys Mountain underground zinc-copper-lead-silver-gold deposit in North Wales.

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Wed, 16 Nov 2016 08:11:00 +1100 https://www.proactiveinvestors.com.au/companies/news/169065/anglesey-mining-knows-of-no-reason-for-share-activity-169065.html
<![CDATA[RNS press release - ANGLESEY MINING PLC - Report on Payments to Governments ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201610120446PR_NEWS_UKDISCLO_0039/ Wed, 12 Oct 2016 20:46:00 +1100 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201610120446PR_NEWS_UKDISCLO_0039/ <![CDATA[RNS press release - ANGLESEY MINING PLC - AGM -Chairman's remarks -Voting -Grant of share options ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201609290200PR_NEWS_UKDISCLO_0007/ Thu, 29 Sep 2016 17:00:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201609290200PR_NEWS_UKDISCLO_0007/ <![CDATA[RNS press release - ANGLESEY MINING PLC - Retirement of Director ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201607290400PR_NEWS_UKDISCLO_0036/ Fri, 29 Jul 2016 19:00:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201607290400PR_NEWS_UKDISCLO_0036/ <![CDATA[RNS press release - ANGLESEY MINING PLC - Annual Financial Report announcement ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201607260200PR_NEWS_UKDISCLO_0004/ Tue, 26 Jul 2016 17:00:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201607260200PR_NEWS_UKDISCLO_0004/ <![CDATA[News - Anglesey Mining braced for shift in zinc prices, losses ease ]]> https://www.proactiveinvestors.com.au/companies/news/128630/anglesey-mining-braced-for-shift-in-zinc-prices-losses-ease-128630.html Anglesey Mining plc (LON:AYM) said it was braced for a shift in metals prices as losses for the year eased.

"The recent improvement in the price of zinc may be the sign that we have been waiting for a number of years,” said chairman John Kearney.

The group said that its 100%-owned Parys Mountain project will benefit from the expected improvements in base metals and particularly from an increase in the price of zinc, which it said will be the predominant metal to be produced in the early years of the project.

In a recent note, ICBC Standard Bank suggested that zinc stocks could fall to a critical point by as early as November this year. On that basis it forecasts that zinc prices will at least double from the recent level of $US0.95 per pound within a year.

“We share this optimism and see no reason to doubt this analysis and we are therefore now embarking on a technical review and updated scoping and economic study of the Party Mountain project,” said Kearney.

The group said that despite a number of uncertainties in the metals markets, there is sound reason to believe that it has passed the low point in the commodities cycle. 

China is expected to reposition its economy to be less reliant upon construction, but increasing urbanisation, the demand for metals will continue. Coupled with reductions on the supply side, this will inevitably lead to much higher metal prices, said Kearney.

For the year ended March 2016 loss after tax eased to £256,450 compared to a loss of £1,736,610 in the 2015 fiscal year.

The 2015 loss was due to a drop in the value of its Labrador iron investment.

There were also significant expense reductions during the year, which including the waiver of salaries and fees by directors.

Elsewhere, gold and silver increased in value over the last year and is trading near to 12 month highs.

But the price of iron ore, on which both Labrador and Grangesberg rely, did not improve to levels that would sustain a return to production at Labrador and prices have fallen back to lower levels.

“We trust that this time next year we will be able to report upon a positive outlook for the future and for Anglesey Mining,” said Kearney.

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Tue, 26 Jul 2016 10:22:00 +1000 https://www.proactiveinvestors.com.au/companies/news/128630/anglesey-mining-braced-for-shift-in-zinc-prices-losses-ease-128630.html
<![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20160318164108_012744448/ Sat, 19 Mar 2016 03:41:08 +1100 https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20160318164108_012744448/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20160318163655_012744429/ Sat, 19 Mar 2016 03:36:55 +1100 https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20160318163655_012744429/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20160114164015_012659952/ Fri, 15 Jan 2016 03:40:15 +1100 https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20160114164015_012659952/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20160114163511_012659936/ Fri, 15 Jan 2016 03:35:11 +1100 https://www.proactiveinvestors.com.au/companies/rns/3114/LSE20160114163511_012659936/ <![CDATA[Media files - Anglesey’s Parys plans hinge on zinc price ]]> https://www.proactiveinvestors.com.au/companies/stocktube/4435/angleseys-parys-plans-hinge-on-zinc-price-4435.html Thu, 03 Dec 2015 13:16:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/4435/angleseys-parys-plans-hinge-on-zinc-price-4435.html <![CDATA[RNS press release - ANGLESEY MINING PLC - Half-yearly Report & Interim Management Statement ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201511270200PR_NEWS_UKDISCLO_0002/ Fri, 27 Nov 2015 19:00:00 +1100 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201511270200PR_NEWS_UKDISCLO_0002/ <![CDATA[News - Anglesey Mining hunkers down as metals storm rages ]]> https://www.proactiveinvestors.com.au/companies/news/119783/anglesey-mining-hunkers-down-as-metals-storm-rages-119783.html Fri, 27 Nov 2015 10:49:00 +1100 https://www.proactiveinvestors.com.au/companies/news/119783/anglesey-mining-hunkers-down-as-metals-storm-rages-119783.html <![CDATA[RNS press release - ANGLESEY MINING PLC - Appointment of Broker ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201511240200PR_NEWS_UKDISCLO_0005/ Tue, 24 Nov 2015 19:00:00 +1100 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201511240200PR_NEWS_UKDISCLO_0005/ <![CDATA[RNS press release - ANGLESEY MINING PLC - Voting at AGM 2015 ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201509290447PR_NEWS_UKDISCLO_0043/ Tue, 29 Sep 2015 19:47:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201509290447PR_NEWS_UKDISCLO_0043/ <![CDATA[RNS press release - ANGLESEY MINING PLC - Final Results and annual report ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201507311042PR_NEWS_UKDISCLO_0104/ Sat, 01 Aug 2015 01:42:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201507311042PR_NEWS_UKDISCLO_0104/ <![CDATA[News - Anglesey's Parys project to benefit from zinc price rise ]]> https://www.proactiveinvestors.com.au/companies/news/109572/anglesey-s-parys-project-to-benefit-from-zinc-price-rise-109572.html Anglesey Mining (LON:AYM), which is developing the Parys mountain project in Wales,  says the long term outlook for lead and zinc remains favourable, but it is a difficult time for the junior resource sector.

In its annual report for the year to end March, it noted that Parys will benefit from any improvement in the price of zinc, which will form a major part of the projected revenue stream, especially in the early years of production.

This would be followed by increasing proportions of lead and copper as mine development advances.

Operations there over the year were kept at a low level due to limited available funding, while management focused on studying the optimisation of mine development, it said.

At the Grangesberg iron project in Sweden, which was a focus, the ever more depressed iron ore market led the firm to decide not to exercise its option over a 51% interest which has now been replaced with a right of first refusal over that interest.

In Canada the operations of Labrador Iron Mines (LIM), in which Anglesey holds a 15% interest, remained suspended during 2014 due to the iron ore price.

The pre-tax loss for the year was £1.73mln, reduced from a loss of £7.17mln in 2014.

Anglesey shares fell sharply on the day to stand at 1.125p.

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Fri, 31 Jul 2015 17:06:00 +1000 https://www.proactiveinvestors.com.au/companies/news/109572/anglesey-s-parys-project-to-benefit-from-zinc-price-rise-109572.html
<![CDATA[RNS press release - ANGLESEY MINING PLC - Half-yearly Report ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201411260200PR_NEWS_UKDISCLO_0005/ Wed, 26 Nov 2014 19:00:00 +1100 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201411260200PR_NEWS_UKDISCLO_0005/ <![CDATA[News - Grangesberg deal puts new fire in Anglesey's belly ]]> https://www.proactiveinvestors.com.au/companies/news/62514/grangesberg-deal-puts-new-fire-in-anglesey-s-belly-62514.html The market certainly didn't let Anglesey Mining's (LON:AYM) statement about a new resource estimate at the historic Grangesberg iron mine in Sweden go unnoticed - with shares rising a whopping 366% on the day.

Chief executive Bill Hooley said he's "delighted" about the firm's option on the property and the new estimate, which underlines the operation's potential.

Speaking to Proactive, he said the developments have re-stoked the engine at Anglesey and provide the group now with "two very solid strings" to its bow in the shape of Grangesberg and Parys Mountain in north Wales.

The Grangesberg estimate certainly has acted as a kicker to the shares after a fairly stagnant period.

The resource at the mine, which was the third largest operation in the country when it closed in 1989, was carried out by consultants Roscoe Postle. The 4km site lies 200km northwest of Stockholm.

The report put the higher confidence indicated resource at 115.2mln tonnes at 40.2% iron for 46.3mln tonnes of the contained metal, and showed there was potential to expand the ore amount at depth.

Anglesey's plan is to get the mine back into production around 2018 at 2- 2.5 million tonnes of product a year for sale into the Swedish market, to save costs, at a time when, hopefully, the iron price will have firmed up after recent lows.

Hooley runs quickly through the many positives of the Grangesberg proposition, starting with an indicated resource that, he says, shows a "lot of tonnes".

"It demonstrates there is a proper deposit there and I think that's very important. I think its location is also important. It's in central Sweden. It's not up in the north. It's not in the deep arctic and it's got all the infrastructure around it. It's got the roads and the railway."

Indeed, all the underground infrastructure is still there as is the marshalling railway yard, which will be used again, Hooley explained.

"What the mine did do before they closed was sink four new shafts to the bottom of the mine - to the 600m level and they were never used. Our plan of course is to use those," he added.

It’s no secret that Anglesey was able to take the option on Grangesberg when the latest operating firm ran into problems.

In May this year it paid US$145,000 for 6% of Grangesberg Iron (GIAB), a private Swedish company that recently refinanced and holds the 25 year exploitation permit.

Anglesey has until June next year the option to acquire 51% to own 57% - a controlling interest in GIAB - something Hooley expects will happen but the pre-feasibility report will probably be the decider.

Anglesey has also emphasised the support it has received in Sweden for Grangesberg. Hooley said they had met not only the mining inspectors, but local people and the mayor.

"People want this operation to come back. It was a mining area. It still is a mining town in spirit," he said.

The next phase for the Swedish project will be the permitting required to de-water the site after it was flooded and other technical and environmental reports. This process has already begun.

That will then lead to a pre-feasibility study, which Hooley says he hopes will be in the first quarter next year. Then, it will be a full bankable feasibility study and funding - it's still too early to say how much the capex would be.

All eyes have been recently trained on Sweden but the Parys mountain zinc-copper lead project is very much in management's mind too, says Hooley.

"I think as a company we are really looking at whether we can make Parys Mountain happen," he said.

The site has a JORC resource of 2.1mt at 6.9% combined base metals in the indicated category and 4.1mt at 5.0% combined in the inferred category.

Hooley confirmed a review covering the resource at the site completed by Micon International had given the firm "some good leads" but the aim was to now to start work on the ground, though financing remains an issue.

"The right way to do exploration at Parys mountain is to get underground and start producing and seeing what else is there," he told Proactive.

Key to Parys's future is also, of course, the trajectory of the zinc price, about which the firm has been more bullish recently.

Hooley says the firm would hope to get Parys into production around 2016 when the zinc market is expected to have strengthened significantly. Anglesey is able to move the project forward quickly as it benefits from already holding valid planning permissions for the proposed mine and mill.

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Wed, 08 Oct 2014 13:02:00 +1100 https://www.proactiveinvestors.com.au/companies/news/62514/grangesberg-deal-puts-new-fire-in-anglesey-s-belly-62514.html
<![CDATA[RNS press release - ANGLESEY MINING PLC - Blocklisting - Interim Review ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201410070523PR_NEWS_UKDISCLO_0032/ Tue, 07 Oct 2014 21:23:00 +1100 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201410070523PR_NEWS_UKDISCLO_0032/ <![CDATA[RNS press release - ANGLESEY MINING PLC - Result of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201410010545PR_NEWS_UKDISCLO_0063/ Wed, 01 Oct 2014 20:45:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201410010545PR_NEWS_UKDISCLO_0063/ <![CDATA[RNS press release - ANGLESEY MINING PLC - Grangesberg NI 43-101 Resource Estimate ]]> https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201409290500PR_NEWS_UKDISCLO_0036/ Mon, 29 Sep 2014 20:00:00 +1000 https://www.proactiveinvestors.com.au/companies/rns/3114/PRNRNS_201409290500PR_NEWS_UKDISCLO_0036/