30th November
2016
LSE: AYM
Placing of New Shares for £0.3
million
Anglesey Mining plc is pleased to
announce that it has today agreed to issue 12,000,000 new ordinary
shares, representing approximately 6.95% of the Company’s enlarged
issued share capital, at 2.585 pence
per share in a placement to institutions, to raise a total of
£310,200.
The proceeds of issue will be used for
project development of its 100% owned Parys Mountain
zinc-copper-lead deposit in North
Wales, UK and for general working capital.
The Parys Mountain property is a
significant zinc, copper and lead deposit with small amounts of
silver and gold, with a 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. An updated scoping study is currently being prepared by
Micon International Limited and Fairport Engineering Limited, both
of which are acknowledged experts and leaders in the resources
sector.
The directors have authorised the
issue of the new shares under the dispensation approved at the last
AGM on 28th September 2016. 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. The transaction is conditional on the
admission of the new ordinary shares to the Official List and to
trading on the London Stock Exchange’s main market.
Application will be made for these
shares to be admitted to both the Official List and to trading on
the London Stock Exchange’s main market for listed securities and
it is expected that such admission will become effective and
dealings will commence on or 14th December
2016.
Following the allotment of these new
ordinary shares becoming unconditional, the issued ordinary share
capital of the company will be 172,608,051 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.
Bill
Hooley, CEO, stated “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.”
About Anglesey Mining plc
Anglesey is carrying out development
and exploration work at its 100% owned Parys Mountain
zinc-copper-lead deposit in North
Wales, UK with a reported 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
Anglesey holds a 6% 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 51%.
Anglesey also holds 15.3% of Labrador
Iron Mines Holdings Limited which has direct shipping iron ore
deposits in Labrador and
Quebec and is currently undergoing
a financial restructuring.
For further
information, please contact:
Bill Hooley, Chief Executive +44
(0)1492 541981
Danesh Varma, Finance Director +44
(0)207 653 9881
Elliot Hance, Beaufort Securities+44
(0)207 382 8300