Anglesey Mining

AYM: 3.25 -0.25 (▼7.14%)

Delayed:2017-08-22 15:02:57
Bid Price 3.00 High Price 3.49
Ask Price 3.50 Low Price 3.15
Open Price 3.50 Spread 15.38%
Prev Close 3.50 Volume 849,917.00

Anglesey Mining Share Price Chart


Historic - 1 year

Anglesey Mining Share Price Information

Name Anglesey Mining Epic AYM
Sector Mining ISIN GB0000320472
Activites Anglesey Mining plc holds 33% of Toronto-listed Labrador Iron Mines Holdings Limited (TSX:LIM) which is developing twenty direct shipping iron ore deposits in western Labrador and north-eastern Quebec. LIM's properties are part of the historic Schefferville area iron ore district where mining of adjacent deposits was previously carried out by the Iron Ore Company of Canada from 1954 to 1982. Mining has already commenced on LIM's James Deposit and the commissioning of the Silver Yards processing plant is complete. The first shipment of iron ore from Sept-Iles is expected to be loaded in August. See the Labrador Iron Mines website for further details. Anglesey also has 100% of the Parys Mountain zinc-copper-lead deposit in North Wales, UK with a total historical resource in excess of 7 million tonnes at over 9% combined copper, lead and zinc. Security Type Equity

Key numbers

Latest Share Price (p) 3.25 Net Gearing (%) 21.27
Market Cap (£m) 6.22 Gross Gearing (%) 21.34
Shares in issue (m) 177.61 Debt Ratio 20.64
P/E Ratio -17.50 Debt-to-Equity Ratio 0.96
Divs per share (p) 0.00 Assets / Equity Ratio 1.27
Dividend Yield (%) 0.00 Price to book value 0.51
Dividend Cover 0.00 SROCE (%) -1.70
Earning per share (p) -0.20 EPS Growth (%) 81.82
52-week high / low (p) 7.25 / 1.25 DPS Growth (%)

Anglesey Mining Broker Views

Date Broker Rec. Price Old target price New target price Notes
24 Jul Beaufort Securities Speculative Buy 3.25 Reiterates
12 May Beaufort Securities Speculative Buy 3.25 Reiterates
01 Dec Beaufort Securities Speculative Buy 3.25 Reiterates
30 Nov Beaufort Securities Speculative Buy 3.25 Reiterates
08 Dec Ambrian Buy 3.25 81.00 Initiates/Starts

Anglesey Mining Director Deals

Anglesey Mining Company News

Anglesey requests alternative Parys Mountain scenarios

Anglesey Mining has asked Micon International and Fairport Engineering to consider alternative production and throughput scenarios for the group's Parys Mountain copper-lead-zinc project in North Wales.

Micon and Fairport, in collaboration with Anglesey's personnel, are working on a scoping study on the project based on the resource estimate calculated by Micon in 2012.

The 2012 JORC code compliant resource estimate reported a resource of 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.

The initial approach adopted for the scoping study was a plan to mine these resources at 500 tonnes per day, or 165,000 tonnes per annum, commencing with development of the mineral deposits closest to surface.

The company said it had chosen this throughput rate as it was believed that the low capital cost associated with this approach would provide the most beneficial outcome.

It said: "Given the level of indicated resources defined by Micon in 2012, this would result in a mine life of around 16 years, with mining of the indicated resources only and none of the inferred resources."

The company said it had reviewed the initial outcome of the study, based on a daily processing plant input of 500 tonnes per day of ore, and concluded that an accelerated development of the indicated resources over a shorter initial mine life should be economically more attractive.

Anglesey said Fairport had considered some processing alternatives, specifically the introduction of dense media separation, that would increase the effective daily production rate by about 40% with only a limited increase in capital.

It said this would result in a shortened mine life based on the existing indicated resources and should generate an enhanced financial outcome.

Anglesey said: "In addition, on reviewing the current indicative levels of the capital cost of mill equipment, including readily available used processing plant, it was felt that construction of a larger processing plant with a higher throughput rate could be justified.

"The feasibility study completed in 1991 was based on a throughput rate of 1,000 tonnes per day, or 350,000 tonnes per year.

"Obviously, a higher initial daily throughput rate would require additional mine development, a higher capital cost and result in a shortened mine life based only on the existing 2.1 million tonnes of indicated resources, but it should generate an enhanced financial outcome.

"However, recognising the significant inferred resources of 4.1 million tonnes, being almost twice the current indicated resources, it would be expected that during the operation of the mine definition and exploration drilling would be carried out from underground locations that should be expected to bring much of the current inferred resources into the indicated category, and that would then extend the mine life significantly."

Anglesey said that based on an initial review of the preliminary results of the draft scoping study, it had asked both Micon and Fairport to consider alternative production and throughput scenarios, at various levels between 500 and 1,000 tonnes per day, and expected to receive modified mine production schedules and alternative capital cost estimates in the near future.

It said the inputs would then be incorporated into updated financial models, with a view to having optimised development scenarios available for consideration before the end of June 2017.

At 9:26am: (LON:AYM) Anglesey Mining PLC share price was 0p at 4.38p

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FLASH: Anglesey update on Parys Mountain scoping study

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Anglesey Mining raises £225,000

Anglesey Mining has raised £225,000, gross, through a placing of 5,000,000 new ordinary shares at 4.5p apiece.

The company said the net proceeds of £213,750 would be used for general working capital and for the continued development of the Parys Mountain poly-metallic project in North Wales on which an updated scoping study was being prepared by Micon International Limited and by Fairport Engineering Limited.

The company said the study was reviewing capital and operating costs including the use of available second-hand plant to minimise capital expenditure wherever possible.

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FLASH: Anglesey Mining raises £225,000

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Mining Roundup

Bezant (LON:BZT) was the sector's biggest riser in late trading after it confirmed that initial gold and platinum has been recovered via its exploration processing plant on site at the FKJ 083 licence area in the Choco Province of Colombia.

Bezant holds options over an approximate 2,600 hectare land package on the Choco Platinum and Gold Plateau in Colombia and is applying modern mining techniques and processes to seek to create a low-cost, at surface, gold and platinum production portfolio.

The company's mining contract partner in Colombia, Exumax SAS is now processing large-scale exploration samples of alluvial material through the onsite exploration laboratory, established at the project's campsite.

To date, 22 test pits have been excavated at the FKJ-083 licence area to depths from 4 to 12 metres. A total of 95 individual samples of between 0.25 and 1.0 loose cubic metres (LCM) have been extracted from the 22 test pits to date.

Visible gold and platinum have been observed in the final sample concentrates. The selected sample concentrates will shortly be sent to an independent laboratory for assaying to verify the gold and platinum grades.

The main objective of the current phase of exploration and sampling is to enable the correlation with historic production results and to assess the economic feasibility of rapidly developing a full production operation at the site during 2017, using a low capex, alluvial dry mining plant.

* * *

Churchill Mining (LON:CHL) says the the ICSID Secretariat has today informed the parties that it expects the three-day advance notice of the issuance of its decision to be given this week. The company will provide a further update as soon as it receives the three-day notice from the ICSID tribunal.

* * *

Trans-Siberian Gold (LON:TSG) has resolved to pay a special dividend equivalent to 5 US cents a share, totalling about US$5.5 million.

* * *

Anglesey Mining (LON:AYM) has raised £310,200 through the issue 12,000,000 new ordinary shares, representing approximately 6.95% of the company's enlarged issued share capital, at 2.585p apiece.

The proceeds will be used for project development of its 100% owned Parys Mountain zinc-copper-lead deposit in North Wales and for general working capital.

* * *

Petropavlovsk (LON:POG) has received approvals for the refinancing of the group's entire bank debt totalling US$529.8 million with the lending banks, Sberbank (75% of total bank debt) and VTB (25% of total bank debt).

The approved terms include a revised maturity profile from May 2018 to September 2022 (inclusive of option to extend the 2019 maturity payment to 2022 upon certain conditions being satisfied) and effective average interest rate of c.8%.

Petropavlovsk says the extended maturity profile of borrowings is now successfully aligned with the company's production profile, expected cash generation and growth capital expenditure plans.

* * *

Gemfields' registered office address has changed from 23 King Street, London, SW1Y 6QY to 1 New Burlington Place, Mayfair, London, W1S 2HR with immediate effect.

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Metminco Ltd (LON:MNC) advises that the Miraflores Gold Project Feasibility Study has commenced and is anticipated to be completed during the first half of 2017.

GR Engineering Services Limited (GRES), a Perth, Australian based engineering, consulting and contracting company specialising in fixed price engineering design and construction services to the resources sector has been appointed to manage the Feasibility Study.

GMI, an arm of the Peruvian based Grana y Montero Group engineering and construction company, has been engaged to provide engineering design services to GRES.

Dynami Geoconsulting (Dynami), which is based in Medellin, Colombia will provide environmental and geotechnical engineering and design, including the completion of the baseline environmental monitoring and geotechnical design for the plant and infrastructure.

The Scoping Study, announced in September 2016, indicated that development of a standalone underground operation with a filtered tailings system would significantly reduce the surface footprint compared to the previously proposed operation, as the latter provided waste dumps, low grade stockpile dumps, a slurry tailings facility and a large open pit.

It is expected that the changes to the proposed surface infrastructure will facilitate the completion of the EIA process. Since the completion of the Scoping Study additional work in relation to infrastructure has identified significant potential savings in the area of water management and power access.

At 3:54pm:

(LON:AYM) Anglesey Mining PLC share price was +0.38p at 3.63p

(LON:BEM) Beowulf Mining PLC share price was 0p at 5.38p

(LON:BKY) Berkeley Energia Ltd share price was -0.5p at 46p

(LON:BZT) Bezant Resources PLC share price was +0.67p at 2.25p

(LON:CEY) Centamin PLC share price was +0.65p at 130.65p

(LON:CHL) Churchill Mining PLC share price was +4.63p at 37.63p

(LON:CZA) Coal of Africa Ltd share price was -0.25p at 3.6p

(LON:FDI) Firestone Diamonds PLC share price was +0.25p at 50p

(LON:FRES) Fresnillo PLC share price was -23.5p at 1210.5p

(LON:GEMD) Gem Diamonds Ltd share price was +1.38p at 105.13p

(LON:HOC) Hochschild Mining PLC share price was +2.95p at 219.15p

(LON:KMR) Kenmare Resources PLC share price was -2.5p at 247.5p

(LON:POG) Petropavlovsk PLC share price was +0.42p at 7.24p

(LON:TSG) TransSiberian Gold PLC share price was +5p at 43.5p

(LON:VED) Vedanta Resources PLC share price was -12.25p at 847.75p

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