Anglesey Mining

AYM: 2.36 0.00 (0.00%)

Delayed:2018-02-21 16:57:03
Bid Price 2.25 High Price 0.00
Ask Price 2.75 Low Price 0.00
Open Price 0.00 Spread 20.00%
Prev Close 2.50 Volume 0.00

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) 0.00 Net Gearing (%) 20.13
Market Cap (£m) 4.44 Gross Gearing (%) 22.61
Shares in issue (m) 177.61 Debt Ratio 22.04
P/E Ratio -12.50 Debt-to-Equity Ratio 0.97
Divs per share (p) 0.00 Assets / Equity Ratio 1.29
Dividend Yield (%) 0.00 Price to book value 0.36
Dividend Cover 0.00 SROCE (%) -1.97
Earning per share (p) -0.20 EPS Growth (%) 0.00
52-week high / low (p) 7.25 / 2.25 DPS Growth (%)

Anglesey Mining Broker Views

Date Broker Rec. Price Old target price New target price Notes
08 Sep Beaufort Securities Speculative Buy 2.36 Reiterates
24 Jul Beaufort Securities Speculative Buy 2.36 Reiterates
12 May Beaufort Securities Speculative Buy 2.36 Reiterates
01 Dec Beaufort Securities Speculative Buy 2.36 Reiterates
30 Nov Beaufort Securities Speculative Buy 2.36 Reiterates

Anglesey Mining Director Deals

Anglesey Mining Company News

Anglesey targeting 2020 production at Parys Mountain

Anglesey Mining has issued an update on the Parys Mountain project in North Wales and said it was planning for production on 2020.

On 24 July, Anglesey reported on the scoping study completed by Micon International Limited and Fairport Engineering Limited.

It said the financial figures used in the scoping study were based on metal prices prevailing at that time.

"Since July all the metals to be produced at Parys Mountain have increased in price with copper at $3.10/lb compared to $2.50/lb in the Scoping Study, zinc has increased to $1.40/lb compared to $1.25/lb in the Study and lead has moved to $1.09/lb compared to $1.00.

"There has also been upward movement in both gold and silver. In contrast, the pound has strengthened somewhat against the US dollar and is now trading around $1.30 to £1.00 compared to $1.25 in the Study.

"The overall impact of these changes would be very positive on the pre-tax NPV and IRR.

"The fundamentals underlying the recent increases in these metal prices are well founded and are likely to continue to support upward growth through the next several years."

Anglesey said it believed that it was now opportune to progress a number of steps to move the Parys Mountain project forward with the expectation that financing could be obtained and the project developed to production as soon as practicable.

It said the major steps to be taken in the short term would include: - Commencement of an Environmental Impact Assessment

- Conversion of the Scoping Study to a Definitive Feasibility Study

- Recruitment of key corporate staff

- Discussions with potential providers of project finance, including investment funds, metal traders, smelters and banks

The company said it had adequate funds to initiate these steps and continue its normal corporate and limited site operations but would need to raise some additional funding to complete these development targets.

It said that this would not likely involve significant dilution for current shareholders. It added: "Providing this timetable can be met and discussions on project financing are well advanced by the middle of next year, it would be possible for project construction to commence before the end of 2018 with initial production targeted for the first half of 2020."

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FLASH: Anglesey update on Parys Mountain project

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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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