TIDMAYM 
 
Anglesey Mining plc 
 
A UK mining company listed on the London Stock Exchange 
 
Anglesey holds 100% of the Parys Mountain underground 
zinc-copper-lead-silver-gold deposit in North Wales, UK where it is exploring 
and plans to carry out evaluation and pre-feasibility work when financial 
conditions permit. 
 
Anglesey holds 15% of Labrador Iron Mines Holdings Limited which has direct 
shipping iron ore deposits in Labrador and Quebec and is currently undergoing a 
financial restructuring. 
 
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 to 51%. 
 
Chairman's statement 
 
Once again we have to report that the expected resurgence in the resources 
sector, and in particular the prices of the metals that form the bases of our 
assets, has largely not materialised. With the continuing underlying weaknesses 
in commodities, the equities markets for small cap miners has remained at best 
thin and at other times almost non-existent. Anglesey Mining is no different 
from its peers in this respect and it has proved virtually impossible during 
the last year to create any interest in raising new funds from the market. 
 
The recent upward movement in zinc and precious metals' prices could now begin 
to improve this position and if this momentum is maintained Anglesey will look 
for the opportunity to improve the balance sheet and permit funding of project 
development activities. Gold and silver have increased in value over the last 
year and are trading near their 12 month highs. 
 
The price of iron ore, on which both Labrador and Grangesberg rely, did show 
some improvement during the early part of 2016, albeit not to the levels that 
would sustain a return to production at Labrador, but unfortunately that rally 
was not sustained and prices have fallen back to lower levels. 
 
The recent improvement in the price of zinc may be the sign that we have been 
waiting for a number of years. There is a general consensus based on supply/ 
demand imbalance that zinc prices must improve from recent levels. There is no 
doubt that following a number of major mine closures during 2015 there is a 
current deficit in zinc supply compared to demand and, with few major new mines 
planned, that deficit is likely to continue for a number of years. However, the 
levels of derivative trading and warehousing in various forms  often impacts 
this classical economic view and in the recent past has served to apparently 
hold prices down against an expected increase. 
 
The other factor that affects project viability, particularly for Parys 
Mountain, is currency exchange rates. With all commodity prices quoted in US 
dollars, movements in domestic exchange rates can have significant impacts. The 
British Pound and Swedish Krona have fallen during the last year and this will 
have improved the economics of projects based in those countries where the 
majority of costs will be priced in the local currency. 
 
Your directors have worked hard to keep costs to a minimum, director's salaries 
and fees continued to be waived and this will continue until the financial 
position of the group improves. I thank the directors and management for these 
efforts, and I also thank our loyal shareholders for their patience and 
understanding while we work our way through this particularly ugly phase of the 
commodity cycle. 
 
Parys Mountain 
 
The Parys Mountain property has a significant zinc, copper and lead deposit 
with small amounts of silver and gold. A feasibility study in 1991 demonstrated 
the technical and economic viability of bringing the property into production 
at a rate of 350,000 tonnes per annum, producing zinc, copper and lead 
concentrates. In 2012 the first JORC Code compliant resource estimate of the 
property was published and 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 and there is substantial 
exploration potential. 
 
The site has a head frame, a 300m deep production shaft and planning permission 
for operations. The group has freehold ownership of the minerals and surface 
land. Infrastructure is good, political risk is low and the project has the 
support of local people and government. 
 
The directors are of the opinion that this project is at an advanced state and 
the existence of the current JORC resource estimate and the original 
feasibility study, together with the valid planning permissions, represent a 
solid base from which to move the project towards production. A detailed review 
of the previous technical and feasibility studies of Parys Mountain, including 
current estimates of operating and capital costs, is planned for the summer of 
2016 with a view to completing an updated scoping and economic study later this 
year. It is expected that the results of this review will be available in the 
early autumn and will be used to assist with future planning and potential 
financing of the development of the Parys Mountain project. 
 
The directors carried out an impairment review with an effective date of 26 
March 2016. This review was based on an estimate of discounted future cash 
flows from the development and operation of the Parys Mountain project over the 
initial projected mine life of 16 years and assumed that there would be a two 
year delay before any activities commence. Capital costs were estimated at 
current costs and the key assumptions utilised were a discount rate of 10% 
applied to future cashflows with metal prices (long-term estimates) of: zinc 
$US1.25 /lb; copper $US 2.50 /lb; lead $US1.00 /lb; silver $US17.50 per ounce 
and gold $US1275 per ounce and an exchange rate US$1.40/GBP1.00. Further details 
of this review are included in note 10 to the financial statements. Based on 
the above parameters and the assumptions utilised the directors believe that no 
impairment provision is necessary or appropriate. The directors also 
re-evaluated the impairment review following the recent EU Referendum in the UK 
and concluded there was no requirement for any change in their original 
assessment or calculations. Any depreciation in the value of sterling in 
relation to the US dollar would have a positive effect on the project 
cashflows. 
 
Operation of the mine and the receipt of cashflows from it are dependent on 
finance being available to fund the development of the property. 
 
Grangesberg Iron 
 
With iron ore prices remaining depressed operations at Grangesberg have been 
limited. We continue to manage the project on behalf of the company and its 
other shareholders. The economics of Grangesberg will be more positive than 
many of the other iron ore projects that have failed or missed realization in 
the last three years. The high grade of concentrate to be produced from 
Grangesberg, together with the extensive existing infrastructure on site and 
nationally, and the potential for sales within Sweden's domestic markets, 
negating the requirements for major port facilities and expensive handling and 
shipping costs, will be key drivers in this expectation. 
 
Labrador Iron 
 
As reported last year, Labrador Iron Mines ("LIM") is operating under the 
Canadian Companies Creditors Arrangement Act. This process continues and it is 
expected that a plan of arrangement will be put in place later this year. Under 
this arrangement Anglesey's current 15% shareholding in LIM will be 
significantly diluted but it is expected that the reorganized entity will 
maintain title to its iron ore assets in Labrador such that they could be 
restarted when the economics of iron ore in Canada improve, and at the same 
time LIM will have the flexibility to pursue alternative business 
opportunities. 
 
Outlook 
 
The future for commodity prices in general continues to be somewhat uncertain. 
The group is exposed to base and precious metals at Parys Mountain, which 
recently show signs of improvement, and to iron ore at LIM and at Grangesberg. 
The only cash draw on the group is a limited requirement for Parys Mountain and 
for normal corporate costs. As has been noted both these cost centres have been 
kept to a minimum. 
 
The outlook for iron ore has changed little over the last year. Consolidation 
of the industry with many small miners closing down is probably near completion 
leaving the supply side dominated by Rio Tinto, BHP Billiton and Vale likely 
supplying around 75% of all sea borne iron ore. Comments by these majors have 
suggested that, while profitable at the current lower prices, they foresee that 
higher prices will be needed to ensure the necessary investment to maintain 
production levels. 
 
The Parys Mountain project will benefit from the expected improvements in base 
metals and particularly from an increase in the price of zinc which will be the 
predominant metal to be produced in the early years of the project. ICBC 
Standard Bank in a recent note suggested that zinc stocks could fall to a 
critical point by as early as November this year and on that basis they are 
forecasting that zinc prices will at least double from the recent level of 
$US0.95 per pound within 24 months. 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. 
 
Whilst there still are a number of uncertainties in the metals markets we feel 
that there is sound reason to believe that we have passed the low point in the 
commodities cycle.  We believe China may reposition its economy to be less 
reliant upon construction but with ongoing urbanization its demand for metals 
will continue and coupled with reductions on the supply side will inevitably 
lead to much higher metal prices than we see today. 
 
We trust that this time next year we will be able to report upon a positive 
outlook for the future and for Anglesey Mining. 
 
John F. Kearney 
 
Chairman 
 
25 July 2016 
 
Strategic Report 
 
Principal activities and business review 
 
The group is engaged in the business of exploring and evaluating its wholly 
owned Parys Mountain project in North Wales, although activities there have 
been very limited during the year. 
 
Under various agreements the group also participates in the management of the 
Grangesberg iron ore property in Sweden in which it has a 6% holding and a 
right of first refusal to acquire a further 51% ownership interest. 
 
Operations at the Labrador iron project in eastern Canada in which group has a 
15% holding (2015 - 15%) are currently suspended. LIM is now operating under 
the Canadian Companies' Creditors Arrangement Act to facilitate a restructuring 
and refinancing of its business operations. 
 
The group continues its search for other mineral exploration and development 
opportunities. 
 
The aim of the group is to create value in the Parys Mountain and Grangesberg 
properties, including by co-operative arrangements where appropriate, and to 
actively engage in other mineral ventures using the group's own resources 
together with such external investment and finance as may be available. 
 
Parys Mountain 
 
The Parys Mountain property has a significant zinc, copper and lead deposit 
with small amounts of silver and gold. A feasibility study in 1991 demonstrated 
the technical and economic viability of bringing the property into production 
at a rate of 350,000 tonnes per annum, producing zinc, copper and lead 
concentrates. In 2012 the first JORC Code compliant resource estimate of the 
property was published and 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 and there is substantial 
exploration potential. 
 
The site has a head frame, a 300m deep production shaft and planning permission 
for operations. The group has freehold ownership of the minerals and surface 
land. Infrastructure is good, political risk is low and the project has the 
support of local people and government. 
 
The directors are of the opinion that this project is at an advanced state and 
the existence of the current JORC resource estimate and the original 
feasibility study, together with the valid planning permissions, represent a 
solid base from which to move the project towards production. A detailed review 
of the previous technical and feasibility studies of Parys Mountain, including 
current estimates of operating and capital costs, is planned for the summer of 
2016 with a view to completing an updated scoping and economic study later this 
year. It is expected that the results of this review will be available in the 
early autumn and will be used to assist with future planning and potential 
financing of the development of the Parys Mountain project. 
 
The directors carried out an impairment review with an effective date of 26 
March 2016. This review was based on an estimate of discounted future cash 
flows from the development and operation of the Parys Mountain project over the 
initial projected mine life of 16 years and assumed that there would be a two 
year delay before any activities commence. Capital costs were estimated at 
current costs and the key assumptions utilised were a discount rate of 10% 
applied to future cashflows with metal prices (long-term estimates) of: zinc 
$US1.25 /lb; copper $US 2.50 /lb; lead $US1.00 /lb; silver $US17.50 per ounce 
and gold $US1275 per ounce and an exchange rate US$1.40/GBP1.00. Further details 
of this review are included in note 10 to the financial statements. Based on 
the above parameters and the assumptions utilised the directors believe that no 
impairment provision is necessary or appropriate. The directors also 
re-evaluated the impairment review following the recent EU Referendum in the UK 
and concluded there was no requirement for any change in their original 
assessment or calculations. Any depreciation in the value of sterling in 
relation to the US dollar would have a positive effect on the project 
cashflows. 
 
Operation of the mine and the receipt of cashflows from it are dependent on 
finance being available to fund the development of the property. 
 
Grangesberg Iron AB 
 
In May 2014 the group entered into agreements giving it certain rights in the 
Grangesberg iron ore mine situated in the mineral-rich Bergslagen district of 
central Sweden about 200 kilometres north-west of Stockholm. Until its closure 
in 1989 due to prevailing market conditions Grangesberg had mined in excess of 
150 million tonnes of iron ore. GIAB holds a 25 year exploitation permit 
covering the previously mined Grangesberg underground mining operations granted 
by the Swedish Mining Inspectorate in May 2013. 
 
The group now has a direct 6% interest in GIAB, a private Swedish company 
founded in 2007 which in 2014 completed a financial and capital restructuring 
with assistance from the group and a right of first refusal over 51% of the 
enlarged share capital of GIAB until June 2018. This right has been granted in 
exchange for the group continuing to co-manage GIAB on a cost recovery basis. 
The group also has shareholder and cooperation agreements such that Anglesey 
holds operatorship of GIAB subject to certain conditions and appoints two out 
of five directors to the board of GIAB. 
 
In September 2014 an NI 43-101 Technical Report was prepared by Roscoe Postle 
Associates Inc ("RPA") showing a compliant resource estimate for the 
Grangesberg Mine of 115.2 million tonnes at 40.2% Fe in the indicated category 
and 33.1 million tonnes at 45.2% Fe in the inferred category. RPA concluded 
that the Grängesberg iron ore deposit hosts a significant iron resource that 
has excellent potential for expansion at depth. 
 
A new geo-mechanical and hydro-geological review was also commissioned. This 
report confirmed the expected position of a fault zone in the near surface area 
and measured a number of hydro-geological criteria in that zone. Generally, the 
results were in line with prior expectations and the report made 
recommendations regarding some additional investigations that will be required 
as part of any future definitive feasibility study. 
 
During the coming year, Grangesberg will continue to operate under Anglesey's 
direction. It is planned that subject to the availability of adequate funding, 
Grangesberg will advance a number of environmental studies and other activities 
as a pre-requisite to a definitive feasibility study. 
 
Labrador Iron 
 
Labrador Iron Mines Holdings Limited (LIM) was formerly an associate company in 
the group however following a dilution of the group's holding in November 2012 
it became an investment in which Anglesey holds a 15% interest. 
 
LIM is engaged in the exploration, development and mining of direct shipping 
iron ore projects near Schefferville in the central part of the Labrador Trough 
region, one of the major iron ore producing regions in the world. LIM owns 
extensive iron ore resources, processing plants and equipment and rail 
infrastructure and facilities in its Schefferville Projects.  LIM commenced 
mining operations in 2011 and in the three year period of 2011, 2012 and 2013 
produced a total of 3.6 million dry metric tonnes of iron ore, which was sold 
in 23 cape-size shipments into the Chinese spot market. LIM did not undertake 
mining operations during the 2014 or 2015 operating seasons, due to a 
combination of prevailing low iron ore prices and a continuing need for 
start-up working capital and development financing. 
 
In April 2015 LIM initiated proceedings under the Canadian Companies' Creditors 
Arrangement Act to provide an opportunity for the orderly restructuring of its 
business and financial affairs, so as to enable the company to emerge with a 
viable business in the most favourable position to secure additional 
development financing to proceed with the development of its Houston Project 
and continue as a going concern. It is expected that a Plan of Arrangement will 
be presented to creditors and the court later this year. 
 
Other activities 
 
The directors continue to search for new properties suitable for development 
within a relatively short time frame and within the financing capability likely 
to be available to the group. 
 
Performance 
 
The directors expect to be judged by results of project development and/or 
exploration and by their success in creating long term value for shareholders. 
The group holds shares in mineral companies and has interests in exploration 
and evaluation properties and, until economically recoverable reserves can be 
identified, there are no standardised performance indicators which can usefully 
be employed to gauge the performance of the group, other than the market price 
of the company's shares. 
 
The chief external factors affecting the ability of the group to move forward 
are primarily the demand for metals and minerals, levels of metal prices and 
exchange rates; these and other factors are dealt with in the risks and 
uncertainties section below. 
 
Financial results and position 
 
The group has no revenues from the operation of its properties. The loss for 
the year ended 31 March 2016 after tax was GBP256,450 compared to a loss of GBP 
1,736,610 in the 2015 fiscal year. The larger 2015 loss was due chiefly to 
falls in the value of the group's investment in Labrador Iron. There were also 
significant expense reductions during the year (including the waiver by 
directors of salaries and fees, continuing from July 2014) and the 
administrative and other costs excluding investment income and finance charges 
were GBP112,279. This compares to GBP355,071 in the previous year which included 
expenses of GBP167,256 in connection with the acquisition of the interests in 
Grangesberg. 
 
During the year there were no additions to fixed assets (2015 - nil) and GBP 
49,433 (2015 - GBP75,145) was capitalised in respect of the Parys Mountain 
property as mineral property exploration and evaluation. 
 
At 31 March 2016 the group held mineral property exploration and evaluation 
assets with a carrying value of GBP14.9 million. These carrying values may not 
reflect the realizable value of the properties if they were offered for sale at 
this time. 
 
The group's cash balance at 31 March 2016 was GBP32,759 (2015 - GBP96,873). The 
foreign exchange loss of GBP2,039 (2015 -loss GBP4,574) shown in the income 
statement arises on cash balances held in Canadian dollars and Swedish Krona. 
 
At 31 March 2016 the company had 160,608,051 ordinary shares in issue, 
unchanged from last year. 
 
Employment, community, donations and environment 
 
The group is an equal opportunity employer in all respects and aims for high 
standards from and for its employees. It also aims to be a valued and 
responsible member of the communities which it operates in or affects. 
 
The group has no operations; consequently its effect on the environment is very 
slight, being limited to the operation of two small offices, where recycling 
and energy usage minimisation are taken seriously and encouraged. It is not 
practical or useful to quantify the effects of these measures. There are no 
social, community or human rights issues which require the provision of further 
information in this report. 
 
Risks and uncertainties 
 
In conducting its business the group faces a number of risks and uncertainties 
some of which have been described above in regard to particular projects. 
However, there are also risks and uncertainties of a nature common to all 
mineral projects and these are summarised below. 
 
General mining risks 
 
Actual results relating to, amongst other things, mineral reserves, mineral 
resources, results of exploration, capital costs, mining production costs and 
reclamation and post closure costs, could differ materially from those 
currently anticipated by reason of factors such as changes in general economic 
conditions and conditions in the financial markets, changes in demand and 
prices for minerals that the group expects to produce, legislative, 
environmental and other judicial, regulatory, political and competitive 
developments in areas in which the group operates, technological and 
operational difficulties encountered in connection with the group's activities, 
labour relations, costs and changing foreign exchange rates and other matters. 
 
The mining industry is competitive in all of its phases. There is competition 
within the mining industry for the discovery and acquisition of properties 
considered to have commercial potential. The group faces competition from other 
mining companies in connection with the acquisition and retention of 
properties, mineral claims, leases and other mineral interests as well as for 
the recruitment and retention of qualified employees and other personnel. 
 
Development and liquidity risk 
 
On previous occasions and during the year the group has relied upon its largest 
shareholder, Juno Limited, for financial support and may be required to do so 
in the future to ensure the group will have adequate funds for its current 
activities. In the absence of support from Juno Limited the group would be 
dependent on the proceeds of share issues or other sources of funding. 
Developing the Parys project will be dependent on raising further funds from 
various sources. 
 
Exploration and development 
 
Exploration for minerals and development of mining operations involve risks, 
many of which are outside the group's control. The group currently operates in 
politically stable environments and hence is unlikely to be subject to 
expropriation of its properties but exploration by its nature is subject to 
uncertainties and unforeseen or unwanted results are always possible. 
 
Metal prices 
 
The prices of metals fluctuate widely and are affected by many factors outside 
the group's control. The relative prices of metals and future expectations for 
such prices have a significant impact on the market sentiment for investment in 
mining and mineral exploration companies. Metal price fluctuations may be 
either exacerbated or mitigated by currency fluctuations which affect the 
amount which might be received by the group in sterling. 
 
Foreign exchange 
 
LIM is a Canadian company; Angmag AB and GIAB are Swedish companies. 
Accordingly the value of the group's holdings in these companies is affected by 
exchange rate risks. Operations at Parys Mountain are in the UK and exchange 
rate risks are minor. The majority of the cash balance at the year-end was held 
in sterling - see notes 17 and 24. 
 
Permitting, environment and social 
 
The group holds planning permission for the development of the Parys Mountain 
property but further consents will be required to carry out proposed activities 
and these may be subject to various reclamation and operational conditions. 
 
Employees and personnel 
 
The group is dependent on the services of a small number of key executives 
specifically the chairman, chief executive and finance director. The loss of 
these persons or the group's inability to attract and retain additional highly 
skilled and experienced employees for any areas in which the group might engage 
may adversely affect its business or future operations. At 31 March 2016 the 
company had six male directors; there were no female directors or employees. 
 
Financial instruments 
 
The group's use of financial instruments is described in note 24. 
 
Bill Hooley 
 
Chief executive officer 
 
25 July 2016 
 
Directors' report 
 
The directors are pleased to submit their report and the audited accounts for 
the year ended 31 March 2016. 
 
The corporate governance statement which follows forms part of this report. In 
accordance with statutory requirements, the principal activities of the group 
and other information is set out in the strategic report section preceding this 
report. 
 
Directors 
 
The names of the directors are shown in the directors' remuneration report and 
biographical details are shown on the inside rear cover. It is the company's 
procedure to submit re-election resolutions for all directors at the annual 
general meeting. The company maintains a directors' and officers' liability 
policy on normal commercial terms which includes third party indemnity 
provisions. The powers of the directors are described in the Corporate 
Governance Report. 
 
With regard to the appointment and replacement of directors, the company is 
governed by its Articles, the Corporate Governance Code, the Companies Act and 
related legislation. The Articles themselves may be amended by special 
resolution of the shareholders. Under the Articles, any director appointed by 
the board during the year must retire at the AGM following his appointment. In 
addition, the Articles require that one-third of the remaining directors retire 
by rotation at each general meeting and seek re-appointment. However it is now 
the company's practice to submit re-election resolutions for all directors at 
each AGM. 
 
Directors' interests in material contracts 
 
Juno Limited (Juno), which is registered in Bermuda, holds 36.1% of the 
company's ordinary share capital. The company has a controlling shareholder 
agreement and working capital agreement with Juno. Advances made under the 
working capital agreement are shown in note 19. Apart from interest charges 
there were no transactions between the group and Juno or its group during the 
year. An independent committee reviews and approves any transactions and 
potential transactions with Juno. Danesh Varma is a director and, through his 
family interests, a significant shareholder of Juno. 
 
John Kearney is chairman and chief executive of LIM, Bill Hooley is a director 
and vice-chairman of LIM and Danesh Varma is a director of LIM. All three are 
shareholders of LIM. John Kearney receives remuneration from LIM in his 
capacity of chief executive. There are no transactions between LIM, the group 
and the company which are required to be disclosed. 
 
Bill Hooley and Danesh Varma are directors of Grangesberg Iron AB and of the 
special purpose vehicle Eurmag AB. Danesh Varma has been associated with the 
Grangesberg project since 2007 when he became a director of Mikula Mining 
Limited, a company  subsequently renamed Eurang Limited, previously  involved 
in the Grangesberg project. He did not take part in the decision to enter into 
the Grangesberg project when this was approved by the board. The group has a 
liability to Eurmag AB a subsidiary of Eurang  amounting to GBP245,461 at the 
year end (2015 - GBP226,857). See also note 25. 
 
There are no other contracts of significance in which any director has or had 
during the year a material interest. 
 
Substantial shareholders 
 
At 13 July 2016 the following shareholder had advised the company of an 
interest in the issued ordinary share 
capital: Juno Limited notified an interest in 57,924,248 shares representing 
36.1% of the issued ordinary shares. 
 
Shares 
 
Allotment authorities and disapplication of pre-emption rights 
 
The directors would usually wish to allot any new share capital on a 
pre-emptive basis, however in the light of the group's potential requirement to 
raise further funds for the acquisition of new mineral ventures, other 
activities and working capital, they believe that it is appropriate to have a 
larger amount available for issue at their discretion without pre-emption than 
is normal or recommended for larger listed companies. At this year's annual 
general meeting, the directors will seek a renewal and replacement of the 
company's existing share allotment authorities. 
 
The authority sought in resolution 12 of the notice of the AGM is to enable the 
directors to allot new shares and grant rights to subscribe for, or convert 
other securities into shares, up to a nominal value of GBP540,000 (54,000,000 
ordinary shares) which is approximately one third of the total issued ordinary 
share capital of the company as at 13 July 2016. The directors will consider 
issuing shares if they believe it would be appropriate to do so in respect of 
business opportunities that arise consistent with the company's strategic 
objectives. The directors have no present intention of exercising this general 
authority, other than in connection with the potential issue of shares pursuant 
to the company's employee share and incentive plans. 
 
The purpose of resolution 13 is to authorise the directors to allot new shares 
pursuant to the general authority given by resolution 12 in connection with a 
pre-emptive offer or offers to holders of other equity securities if required 
by the rights of  those securities or as the board otherwise considers 
necessary, or otherwise up to an aggregate nominal amount of GBP401,500 
(40,150,000 ordinary shares). This aggregate nominal amount represents 
approximately 25% of the issued ordinary share capital of the company at 25 
July 2016. Whilst such authority is in excess of the 5% of existing issued 
ordinary share capital which is commonly accepted and recommended  for larger 
listed companies, it will provide additional flexibility which the directors 
believe is in the best interests of the group in its present circumstances. The 
authority sought under resolution 13 will expire on 31 December 2017. The 
directors intend to seek renewal of this authority at future annual general 
meetings. 
 
Rights and obligations attaching to shares 
 
The rights and obligations attaching to the ordinary and deferred shares are 
set out in the Articles of Association. Details of the issued share capital are 
shown in note 21. Details of employee share schemes are set out in the 
Directors Remuneration Report and in note 22. 
 
Each ordinary share carries the right to one vote at general meetings of the 
company. Holders of deferred shares, which are of negligible value, are not 
entitled to attend, speak or vote at any general meeting of the company, nor 
are they entitled to receive notice of general meetings. 
 
Subject to the provisions of the Companies Act 2006, the rights attached to any 
class may be varied with the consent of the holders of three-quarters in 
nominal value of the issued shares of the class or with the sanction of an 
extraordinary resolution passed at a separate general meeting of the holders of 
the shares of the class. 
 
There are no restrictions on the transfer of the company's shares. 
 
Voting rights 
 
Votes may be exercised at general meetings in relation to the business being 
transacted either in person, by proxy or, in relation to corporate members, by 
corporate representative. The Articles provide that forms of proxy shall be 
submitted not less than 48 hours (excluding any part of a day that is not a 
working day) before the time appointed for holding the meeting or adjourned 
meeting. 
 
No member shall be entitled to vote at a general meeting or at a separate 
meeting of the holders of any class of shares in the capital of the company, 
either in person or by proxy, in respect of any share held by him unless all 
monies presently payable by him in respect of that share have been paid. 
Furthermore, no shareholder shall be entitled to attend or vote either 
personally or by proxy at a general meeting or at a separate meeting of the 
holders of that class of shares or on a poll if he has been served with a 
notice after failing to provide the company with information concerning 
interests in his shares required to be provided under the Companies Act 2006. 
 
Significant agreements and change of control 
 
There are no agreements between the company and its directors or employees that 
provide for compensation for loss of office or employment that may occur 
because of a takeover bid. The company's share plans contain provisions 
relating to a change of control. Outstanding awards and options would normally 
vest and become exercisable on a change of control, subject to the satisfaction 
of any performance conditions. 
 
Dividend 
 
The group has no revenues and the directors are unable to recommend a dividend 
(2015 - nil). 
 
Going concern 
 
The directors have considered the business activities of the group as well as 
its principal risks and uncertainties as set out in this report. When doing so 
they have carefully applied the guidance given in the Financial Reporting 
Council's document "Going concern and liquidity risk: Guidance for directors of 
UK companies 2009". 
 
The ongoing operations of the group are dependent on its ability to raise 
adequate financing. The group relies on equity financing and support from its 
shareholders to fund its working capital requirements. The group will need to 
generate additional financial resources in order to meet its planned business 
objectives and continue as a going concern. Additional financing will be 
required in the short term to continue the development of the group's 
properties and in the longer term to put the Parys Mountain Mine into 
production. 
 
The directors recognise the continuing operations of the group are dependent 
upon its ability to raise adequate financing and that this represents a 
material uncertainty which may cast significant doubt about the group's ability 
to continue as a going concern. The directors have a reasonable expectation 
that the required financing will be raised and are actively pursuing various 
financing options with certain shareholders and financial institutions 
regarding proposals for financing. The directors have reasonable expectations 
that these financing discussions will be successful and therefore the financial 
statements have been prepared on the going concern basis. 
 
Greenhouse Gas emissions 
 
The group does not itself undertake any activities or processes which lead to 
the production of greenhouse gases. The extent to which its administrative and 
management functions result in greenhouse gas emissions is slight and the 
directors do not believe that any useful purpose would be served by attempting 
to quantify the amounts of these emissions. 
 
Post balance sheet events 
 
There are no post balance sheet events to report. 
 
Statement of directors' responsibilities 
 
The directors are responsible for preparing the annual report and the financial 
statements. The directors are required to prepare the financial statements for 
the group in accordance with International Financial Reporting Standards as 
adopted by the European Union ("IFRS") and have also elected to prepare 
financial statements for the company in accordance with IFRS. Company law 
requires the directors to prepare group and parent company financial statements 
for each financial year. Under that law they are required to the prepare the 
financial statements in accordance with IFRS, the Companies Act 2006 and, in 
relation to the group financial statements, Article 4 of the IAS Regulation. 
 
Under company law the directors must not approve the financial statements 
unless they are satisfied that they give a true and fair view of the state of 
affairs of the group and parent company financial statements and of their 
profit and loss for that period. 
 
In preparing the financial statements the directors are required to: 
 
  * select suitable accounting policies and then apply them consistently; 
  * make judgements and estimates that are reasonable and prudent; 
  * state that the financial statements comply with IFRSs as adopted by the 
    European Union; and 
  * prepare the financial statements on the going concern basis unless it is 
    inappropriate to presume that the group and the parent company will 
    continue in business. 
 
The directors confirm that they consider the annual report and accounts, taken 
as a whole, is fair, balanced and understandable and provides the information 
necessary for shareholders to assess the company and group's performance, 
business model and strategy. 
 
The directors are responsible for keeping adequate accounting records that are 
sufficient to show and explain the parent company's transactions and disclose 
with reasonable accuracy at any time the financial position of the parent 
company and the group and enable them to ensure that the financial statements 
comply with the Companies Act 2006. They are also responsible for safeguarding 
the assets of the parent company and the group and hence for taking reasonable 
steps for the prevention and detection of fraud and other irregularities. 
 
Under applicable law and regulations the, the directors are also responsible 
for preparing a Strategic Report, Directors' Report, Remuneration Report and 
Corporate Governance Statement that comply with that law and those regulations. 
 
The directors are responsible for the maintenance and integrity of the group 
website. Legislation in the United Kingdom governing the preparation and 
dissemination of financial statements may differ from legislation in other 
jurisdictions. 
 
Each of the directors, whose names and functions are listed on the inside rear 
cover, confirm that, to the best of their knowledge: 
 
  * the group financial statements, which have been prepared in accordance with 
    IFRSs as adopted by the EU, give a true and fair view of the assets, 
    liabilities, financial position and loss of the group; and 
  * the Strategic and Directors' Reports include a fair review of the 
    development and performance of the business and the position of the group, 
    together with a description of the principal risks and uncertainties that 
    it faces. 
 
Auditor 
 
Each of the directors in office at the date of approval of the annual report 
confirms that so far as they are aware there is no relevant audit information 
of which the company's auditor is unaware and that each director has taken all 
of the steps which they ought to have taken as a director in order to make 
themselves aware of that information and to establish that the company's 
auditor is aware of that information. This confirmation is given and should be 
interpreted in accordance with the provisions of s418 of the Companies Act 
2006. 
 
A resolution to reappoint Mazars LLP as auditor and to authorise the directors 
to fix their remuneration will be proposed at the annual general meeting. 
 
Danesh Varma 
 
Company Secretary 
 
25 July 2016 
 
Report of the auditors 
 
We have audited the financial statements of Anglesey Mining plc for the year 
ended 31 March 2016 which comprise the Group Income Statement, the Group 
Consolidated Statement of Comprehensive Income, the Group and Company Statement 
of Financial Position, the Group and Company Statement of Changes in Equity, 
the Group and Company Statement of Cash Flows and the related notes. The 
financial reporting framework that has been applied in their preparation is 
applicable law and International Financial Reporting Standards (IFRSs) as 
adopted by the European Union. 
 
Respective responsibilities of directors and auditor 
 
As explained more fully in the Directors' Responsibilities Statement on page 9, 
the directors are responsible for the preparation of the financial statements 
and for being satisfied that they give a true and fair view. 
 
Our responsibility is to audit and express an opinion on the financial 
statements in accordance with applicable law and International Standards on 
Auditing (ISAs) (UK and Ireland). Those standards require us to comply with the 
Auditing Practices Board's Ethical Standards for Auditors. 
 
This report is made solely to the company's members as a body in accordance 
with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been 
undertaken so that we might state to the company's members those matters we are 
required to state to them in an auditor's report and for no other purpose. To 
the fullest extent permitted by law, we do not accept or assume responsibility 
to anyone other than the company and the company's members as a body for our 
audit work, for this report, or for the opinions we have formed. 
 
Scope of the audit of the financial statements 
 
An audit involves obtaining evidence about the amounts and disclosures in the 
financial statements sufficient to give reasonable assurance that the financial 
statements are free from material misstatement, whether caused by fraud or 
error. This includes an assessment of: whether accounting policies are 
appropriate to the group's and the parent company's circumstances and have been 
consistently applied and adequately disclosed, the reasonableness of 
significant accounting estimates made by the directors and the overall 
presentation of the financial statements. In addition, we read all the 
financial and non-financial information in the annual report in order to 
identify material inconsistencies with the audited financial statements and to 
identify any information that is apparently materially incorrect based on, or 
materially inconsistent with, the knowledge acquired by us in the course of 
performing the audit. If we become aware of any apparent material misstatements 
or inconsistencies we consider the implications for our report. 
 
There are 7 legal entities accounting for 100% of the group's operating loss, 
100% of net assets and 100% of total assets all of which were subject to full 
scope audits for the year ended 31 March 2016. The audit of all the entities 
within the group was undertaken by the group audit team. 
 
Our assessment and application of materiality 
 
We apply the concept of materiality both in planning and performing our audit, 
and in evaluating the effect of misstatements on the financial statements and 
our audit. Materiality is used so we can plan and perform our audit to obtain 
reasonable, rather than absolute, assurance about whether the financial 
statements are free from material misstatement. The level of materiality we set 
is based on our assessment of the magnitude of misstatements that, individually 
or in aggregate, could reasonably be expected to have influence on the economic 
decisions of the users of the financial statements. 
 
Based on our professional judgement the level of overall materiality we set for 
the group financial statements is outlined below: 
 
Overall Group          GBP363,000 
materiality: 
 
Benchmark applied:     This has been calculated with reference to the group's 
                       net assets, of which it represents approximately 3%. 
 
Basis for chosen       Net assets represents shareholders' funds and we have 
benchmark:             determined it to be the principal benchmark within the 
                       financial statements relevant to shareholders, as the 
                       group has no revenues and is still exploring and 
                       evaluating mineral sites in which it retains an 
                       interest. 
                       3% has been chosen to reflect the level of 
                       understanding of the stakeholders of the Group in 
                       relation to the inherent uncertainties around 
                       accounting estimates and judgements. 
 
We agreed with the Audit Committee that we would report to it all audit 
differences in excess of GBP11,000, as well as differences below that threshold 
that, in our view, warranted reporting on qualitative grounds. We also report 
to the Audit Committee on disclosure matters that we identified during the 
course of assessing the overall presentation of the financial statements. 
 
Our assessment of the risks of material misstatement 
 
The assessed risks of material misstatement described below are those that had 
the greatest effect on our audit strategy, the allocation of resources in the 
audit and directing the efforts of the engagement team. 
 
The risk                               Our response 
 
Going concern 
                                       We evaluated the directors' assessment 
The financial statements are prepared  of the group's ability to continue as 
on a going concern basis in accordance a going concern. In particular, we 
with IAS1 'Presentation of Financial   reviewed and challenged the cash flow 
Statements'. Given the cash position   forecasts including key assumptions to 
of the group at the year end, the net  assess the risk of the inability to 
current liabilities of GBP91,996, the    meet liabilities as they fall due. We 
net cash outflows since the year end,  have considered the group's reliance 
and the projected net cash outflows    on ongoing support from its largest 
for the next 12 months there is a      shareholder, Juno Limited, including 
potential material uncertainty that    its ability to provide adequate funds 
the group does not have sufficient     for its current and future activities 
cash or other financial resources to   and the availability of other sources 
continue in operation for at least 12  of finance to the group to support the 
months from the date of authorising    going concern assumption. 
these financial statements.            In the absence of support from Juno 
                                       Limited, the Directors consider that 
                                       the going concern status of the group 
                                       would be dependent on the raising of 
                                       funds from share issues or from 
                                       accessing alternative sources of 
                                       funding. These conditions indicate the 
                                       existence of a material uncertainty 
                                       which may cast significant doubt about 
                                       the group and company's ability to 
                                       continue as a going concern. 
                                       Accordingly, as outlined below, 
                                       without modifying our opinion on the 
                                       financial statements in respect of 
                                       this matter, we have included an 
                                       emphasis of matter. 
 
Potential impairment of capitalised 
costs associated with the exploration  Our audit work included, but was not 
and evaluation of the Parys Mountain   restricted to, a review of the 
mine site                              directors' assessment of the criteria 
                                       for the capitalisation of exploration 
The group has held rights to explore   and evaluation expenditure and whether 
and mine the site for a number of      there are any indicators of impairment 
years but has not completed            to capitalised costs. The directors 
exploration and evaluation activities  concluded that there were indicators 
and feasibility assessments to an      of potential impairment, however their 
extent where the site has been         assessment did not indicate that an 
confirmed as being commercially viable impairment of the asset was required. 
and mining activities commenced. There Our work included a review of the 
is a risk that accounting criteria     integrity of the discounted cash flow 
associated with the capitalisation of  model used by the directors to make an 
exploration and evaluation expenditure assessment as to whether impairment 
may no longer be appropriate and that  had occurred, as well as using our 
capitalised costs exceed the value in  professional scepticism to challenge 
use. Any assessment of the value in    and test the key assumptions for 
use is highly judgemental and is based sensitivity to the model. These key 
on the directors' assessment of a      assumptions included: the expected 
number of factors, including: long     future revenue and costs associated 
term metal commodity prices, the       with the extraction and sale of the 
estimated mineral deposits from        mineral deposits, future metal prices, 
independent experts' studies, costs    currency exchange rates, demand for 
associated with mineral extraction and the minerals and the discount rate 
sale, discount rates and exchange rate utilised in the financial model. Our 
factors.                               work did not indicate that impairment 
                                       to exploration and evaluation assets 
                                       was required. 
 
 
 
Potential impairment of the investment 
in the subsidiary, Parys Mountain 
Mines Limited, in the company 
financial statements                   In conjunction with our work 
                                       associated with the potential 
The cost of the investment in and loan impairment of the exploration and 
due from the subsidiary, Parys         evaluation assets held within Parys 
Mountain Mines Limited, held in the    Mountain Mine Limited, we considered 
balance sheet of the company, is       whether there was an indication that 
supported by the future cash flows     the cost of the investment in and loan 
associated with the recovery of the    due from the subsidiary required 
exploration and evaluation assets      writing down in the company. As there 
following the development of the Parys was no impairment of the asset held by 
Mountain site held by Parys Mountain   Parys Mountain Mine Limited, there is 
Mines Limited. If there were           no indication that the carrying value 
impairment in the exploration and      of the investment in and loan due from 
evaluation assets, this would have a   the company was not recoverable. 
direct impact on the carrying value of 
the investment in and loan due from 
the subsidiary, which may need to be 
written down in the company's 
accounts. 
 
The Audit Committee's consideration of these risks is set out on page 18. 
 
The audit procedures relating to the above mentioned matters were designed in 
the context of our audit of the financial statements as a whole. Our opinion on 
the financial statements is not modified with respect to any of these risks, 
and we do not express an opinion on these individual risks. 
 
Opinion on the financial statements 
 
In our opinion: 
 
  * the financial statements give a true and fair view of the state of the 
    group's and of the parent company's affairs as at 31 March 2016 and of the 
    group's loss for the year then ended; 
  * the group financial statements have been properly prepared in accordance 
    with IFRSs as adopted by the European Union; 
  * the parent company financial statements have been properly prepared in 
    accordance with IFRSs as adopted by the European Union and as applied in 
    accordance with the provisions of the Companies Act 2006; and 
  * the financial statements have been prepared in accordance with the 
    requirements of the Companies Act 2006 and, as regards the group financial 
    statements, Article 4 of the IAS Regulation. 
 
Emphasis of matter - Going concern 
 
In forming our opinion on the financial statements, which is not modified in 
this regard, we have considered the adequacy of the disclosure made in note 2 
to the financial statements concerning the Group's ability to continue as a 
going concern. The Group incurred a net cash outflow of GBP83,330 during the year 
ended 31 March 2016 and, at that date it had net current liabilities of GBP 
91,996. These conditions, along with the other matters explained in note 2 to 
the financial statements, indicate the existence of a material uncertainty 
which may cast significant doubt about the company's ability to continue as a 
going concern. The financial statements do not include the adjustments that 
would result if the company was unable to continue as a going concern. 
 
Opinion on other matters prescribed by the Companies Act 2006 
 
In our opinion: 
 
  * the part of the Directors' Remuneration Report to be audited has been 
    properly prepared in accordance with the Companies Act 2006; 
  * the information given in the Strategic Report and the Directors' Report for 
    the financial year for which the financial statements are prepared is 
    consistent with the financial statements; and 
  * the information given in the Corporate Governance Statement with respect to 
    internal control and risk management systems in relation to financial 
    reporting processes and about share capital is consistent with the 
    financial statements and rules 7.2.5 and 7.2.6 of the Disclosure and 
    Transparency Rules. 
 
Disclosures of principal risks 
 
Based on the knowledge we acquired during our audit, we have nothing material 
to add or draw attention to in relation to: 
 
* the risks and uncertainties on page 6, concerning the principal risks, their 
management, on page 16 and 18, and, based on that, the Directors' assessment 
and expectations of the Group's continuing in operation, on page 8; or 
* the disclosures in note 2 of the Financial Statements concerning the use of 
the going concern basis of accounting. 
 
Matters on which we are required to report by exception 
 
We have nothing to report in respect of the following: 
 
Under the International Standards on Auditing (ISAs) (UK and Ireland), we are 
required to report to you if, in our opinion, information in the annual report 
is: 
 
  * materially inconsistent with the information in the audited financial 
    statements; or 
  * apparently materially incorrect based on, or materially inconsistent with, 
    our knowledge of the company acquired in the course of performing our 
    audit; or 
  * otherwise misleading. 
 
In particular we are required to consider whether we have identified any 
inconsistencies between our knowledge acquired during the audit and the 
directors' statement that they consider the annual report is fair, balanced and 
understandable and whether the annual report discloses those matters that we 
communicated to the audit committee which we consider should have been 
disclosed. 
 
Under the Companies Act 2006, we are required to report to you, if in our 
opinion: 
 
  * adequate accounting records have not been kept, or returns adequate for our 
    audit have not been received from branches not visited by us; or 
  * the parent company financial statements and the part of the Directors' 
    Remuneration Report to be audited are not in agreement with the accounting 
    records and returns; or 
  * certain disclosures of directors' remuneration specified by law are not 
    made; or 
  * we have not received all the information and explanations we require for 
    our audit; or 
  * a Corporate Governance Statement has not been prepared by the company. 
 
Under the Listing Rules we are required to review: 
 
  * the directors' statement, set out on page 8, in relation to going concern; 
    and 
  * the part of the Corporate Governance Statement relating to the company's 
    compliance with the provisions of the UK Corporate Governance Code 
    specified for our review. 
 
Robert Neate (Senior Statutory Auditor) 
 
for and on behalf of Mazars LLP 
 
Chartered Accountants and Statutory Auditor 
 
Tower Bridge House, St. Katharine's Way, London, E1W 1DD 
 
Date: 25 July 2016 
 
Group income statement 
 
All attributable to equity holders of the company 
 
                                     Notes  Year ended 31  Year ended 31 
                                               March 2016     March 2015 
 
All operations are continuing 
                                                 GBP              GBP 
 
   Revenue                                              -              - 
 
   Expenses                                     (112,279)      (355,071) 
 
   Impairment of investment           14                -    (1,231,218) 
 
   Exchange difference on             14                -       (26,766) 
      investment impairment 
 
   Investment income                  6               335            882 
 
   Finance costs                      7         (142,467)      (119,863) 
 
   Foreign exchange loss                          (2,039)        (4,574) 
 
 Loss before tax                      4         (256,450)    (1,736,610) 
 
   Taxation                           8                 -              - 
 
 Loss for the period                            (256,450)    (1,736,610) 
 
   Loss per share 
 
   Basic - pence per share            9            (0.2)p         (1.1)p 
 
   Diluted - pence per share          9            (0.2)p         (1.1)p 
 
 
Group consolidated statement of comprehensive income 
 
 Loss for the period                          (256,450)  (1,736,610) 
 
 Other comprehensive income 
 
 Items that may subsequently be reclassified to profit or loss: 
 
  Exchange difference on                        (7,294)     (31,163) 
      translation of foreign 
 holding 
 
 Total comprehensive loss                     (263,744)  (1,767,773) 
           for the period 
 
 
Statement of financial position of the group 
 
                                            31 March 2016  31 March 2015 
 
                                     Notes 
                                                 GBP              GBP 
 
Assets 
 
   Non-current assets 
 
   Mineral property exploration and   10       14,926,626     14,877,193 
  evaluation 
 
   Property, plant and equipment      11          204,687        204,687 
 
   Investments                        14           86,660         86,660 
 
   Deposit                            15          123,078        122,806 
 
                                               15,341,051     15,291,346 
 
   Current assets 
 
   Other receivables                  16           32,759         30,977 
 
   Cash and cash equivalents          17           11,504         96,873 
 
                                                   44,263        127,850 
 
 Total assets                                  15,385,314     15,419,196 
 
Liabilities 
 
   Current liabilities 
 
   Trade and other payables           18        (136,259)      (121,557) 
 
                                      17 
 
                                                (136,259)      (121,557) 
 
   Net current (liabilities)/assets              (91,996)          6,293 
 
   Non-current liabilities 
 
   Loans                              19      (3,097,662)    (2,882,502) 
 
   Long term provision                20         (50,000)       (50,000) 
 
                                              (3,147,662)    (2,932,502) 
 
 Total liabilities                            (3,283,921)    (3,054,059) 
 
 Net assets                                    12,101,393     12,365,137 
 
Equity 
 
   Share capital                      21        7,116,914      7,116,914 
 
   Share premium                                9,848,949      9,848,949 
 
   Currency translation reserve                  (38,457)       (31,163) 
 
   Retained losses                            (4,826,013)    (4,569,563) 
 
Total shareholders' equity                     12,101,393     12,365,137 
 
 
The financial statements of Anglesey Mining plc were approved by the board of 
directors, authorised 
for issue on 25 July 2016 and signed on its behalf by: 
 
John F. Kearney,    Chairman 
 
Danesh Varma,    Finance Director 
 
Statement of financial position of the company 
 
                                             31 March     31 March 
                                               2016         2015 
 
                                     Notes          GBP            GBP 
 
 Assets 
 
   Non-current assets 
 
   Investments                        13     14,144,127   14,117,026 
 
                                             14,144,127   14,117,026 
 
   Current assets 
 
   Other receivables                  16         15,433       13,945 
 
   Cash and cash equivalents          17          7,867       72,088 
 
                                                 23,300       86,033 
 
 Total Assets                                14,167,427   14,203,059 
 
 Liabilities 
 
   Current liabilities 
 
   Trade and other payables           18      (117,435)    (102,660) 
 
                                              (117,435)    (102,660) 
 
   Net current liabilities                     (94,135)     (16,627) 
 
   Non-current liabilities 
 
   Loan                               19    (2,852,201)  (2,659,916) 
 
                                            (2,852,201)  (2,659,916) 
 
   Total liabilities                        (2,969,636)  (2,762,576) 
 
 Net assets                                  11,197,791   11,440,483 
 
 Equity 
 
   Share capital                      21      7,116,914    7,116,914 
 
   Share premium                              9,848,949    9,848,949 
 
   Retained losses                          (5,768,072)  (5,525,380) 
 
 Shareholders' equity                        11,197,791   11,440,483 
 
 
The financial statements of Anglesey Mining plc registered number 1849957 were 
approved by the 
board of directors and authorised for issue on 25 July 2016, and signed on its 
behalf by: 
 
John F. Kearney,    Chairman 
 
Danesh Varma,     Finance Director 
 
Statements of changes in equity 
 
All attributable to equity holders of the company. 
 
   Group                           Share     Share     Currency    Retained     Total 
                                 capital   premium   translation   losses 
                                                      reserve 
 
                                      GBP         GBP          GBP           GBP            GBP 
 
   Equity at 1 April 2014        7,116,914 9,848,949           -              14,132,910 
                                                                 (2,832,953) 
 
   Total comprehensive loss for 
  the year: 
 
   Loss for the year                     -         -           - 
                                                                 (1,736,610) (1,736,610) 
 
   Exchange difference on                -         -    (31,163)           -    (31,163) 
       translation of foreign 
  holding 
 
   Total comprehensive loss for          -         -    (31,163) 
  the year                                                       (1,736,610) (1,767,773) 
 
   Equity at 31 March 2015       7,116,914 9,848,949    (31,163)              12,365,137 
                                                                 (4,569,563) 
 
   Total comprehensive loss for 
  the year: 
 
   Loss for the year                     -         -           -   (256,450)   (256,450) 
 
   Exchange difference on                -         -     (7,294)           -     (7,294) 
       translation of foreign 
  holding 
 
   Total comprehensive loss for          -         -     (7,294)   (256,450)   (263,744) 
  the year 
 
   Equity at 31 March 2016       7,116,914 9,848,949    (38,457)              12,101,393 
                                                                 (4,826,013) 
 
   Company                                   Share      Share      Retained     Total 
                                            capital    premium     losses 
 
                                                GBP          GBP           GBP            GBP 
 
   Equity at 1 April 2014                  7,116,914   9,848,949              11,753,522 
                                                                 (5,212,341) 
 
   Total comprehensive loss for 
  the year: 
 
   Loss for the year                               -           -   (313,039)   (313,039) 
 
   Total comprehensive loss for                    -           -   (313,039)   (313,039) 
  the year 
 
   Equity at 31 March 2015                 7,116,914   9,848,949              11,440,483 
                                                                 (5,525,380) 
 
   Total comprehensive loss for 
  the year: 
 
   Loss for the year                               -           -   (242,692)   (242,692) 
 
   Total comprehensive loss for                    -           -   (242,692)   (242,692) 
  the year 
 
   Equity at 31 March 2016                 7,116,914   9,848,949              11,197,791 
                                                                 (5,768,072) 
 
 
Statement of cash flows of the group 
 
                                    Notes   Year ended  Year ended 31 
                                              31 March     March 2015 
                                                  2016 
 
 
                                                 GBP           GBP 
 
Operating activities 
 
   Loss for the period                       (256,450)    (1,736,610) 
 
   Adjustments for: 
 
   Investment income                  6          (335)          (882) 
 
   Finance costs                      7        142,467        119,863 
 
   Impairment of investment          14              -      1,231,218 
 
   Exchange difference on            14              -         26,766 
      investment impairment 
 
   Foreign exchange movement                     2,039          4,574 
 
   Exchange difference on                                           - 
        translation of foreign 
  holding 
 
                                             (112,279)      (355,071) 
 
  Movements in working capital 
 
   Increase in receivables                     (1,782)       (15,867) 
 
   Increase in payables                         14,775          4,934 
 
Net cash used in operating                    (99,286)      (366,004) 
activities 
 
Investing activities 
 
   Investment income                                63            672 
 
   Mineral property exploration and           (49,506)       (69,888) 
  evaluation 
 
   Investment                                        -       (74,940) 
 
Net cash used in investing activities         (49,443)      (144,156) 
 
Financing activities 
 
   Loans                                        65,399        322,510 
 
   Loan received                                                    - 
 
Net cash generated from financing               65,399        322,510 
activities 
 
Net decrease in cash                          (83,330)      (187,650) 
         and cash equivalents 
 
 Cash and cash equivalents at start             96,873        289,097 
of year 
 
 Foreign exchange movement                     (2,039)        (4,574) 
 
 Cash and cash equivalents at end    17         11,504         96,873 
of year 
 
 
Statement of cash flows of the company 
 
                                     Notes   Year ended   Year ended 
                                               31 March     31 March 
                                                   2016         2014 
 
                                                    GBP            GBP 
 
Operating activities 
 
   Loss for the period                23      (242,692)    (313,039) 
 
   Adjustments for: 
 
   Investment income                                  -        (477) 
 
   Finance costs                                127,718      116,043 
 
                                              (114,974)    (197,473) 
 
  Movements in working capital 
 
   Increase in receivables                      (1,488)        (152) 
 
   Increase in payables                          14,775       16,653 
 
Net cash used in operating                    (101,687)    (180,972) 
activities 
 
Investing activities 
 
   Interest income                                    -          477 
 
   Investments and long term loans             (27,101)    (139,462) 
 
Net cash used in investing                     (27,101)    (138,985) 
activities 
 
Financing activities 
 
   Loan from Juno Limited                        64,567      125,000 
 
Net cash generated from financing                64,567      125,000 
activities 
 
Net decrease in cash and cash                  (64,221)    (194,957) 
equivalents 
 
 Cash and cash equivalents at start              72,088      267,045 
of period 
 
 Cash and cash equivalents at end     17          7,867       72,088 
of period 
 
 
Notes to the financial statements 
 
1    General information 
 
Anglesey Mining plc is domiciled and incorporated in England and Wales under 
the Companies Act. The nature of the group's operations and its principal 
activities are set out in note 3 and in the strategic report. The registered 
office address is as shown on the rear cover. 
 
These financial statements are presented in pounds sterling because that is the 
currency of the primary economic environment in which the group has been 
operating. Foreign operations are included in accordance with the policies set 
out in note 2. 
 
2    Significant accounting policies 
 
Basis of Accounting 
 
The group and company financial statements have been prepared in accordance 
with International Financial Reporting Standards (IFRS) as adopted by the 
European Union and therefore the group financial statements comply with Article 
4 of the EU IAS Regulation. 
 
The financial statements have been prepared on the historical cost basis except 
for the fair valuation of certain financial assets. The principal accounting 
policies adopted are set out below. 
 
Going concern 
 
The financial statements are prepared on a going concern basis. The validity of 
the going concern basis is dependent on finance being available for the 
continuing working capital requirements of the group for the foreseeable 
future, being a period of at least twelve months from the date of approval of 
the accounts. The ongoing operations of the group are dependent on its ability 
to raise adequate financing. The group relies on equity financing and support 
from its shareholders to fund its working capital requirements. The group will 
need to generate additional financial resources in order to meet its planned 
business objectives and continue as a going concern. Additional financing will 
be required in the short term to continue the development of the group's 
properties and in the longer term to put the Parys Mountain Mine into 
production. 
 
The directors recognise the continuing operations of the group are dependent 
upon its ability to raise adequate financing. The directors have a reasonable 
expectation that the required financing will be raised and are actively 
pursuing various financing options with certain shareholders and financial 
institutions regarding proposals for financing. The directors have reasonable 
expectations that these financing discussions will be successful and therefore 
the financial statements have been prepared on the going concern basis. 
 
Basis of consolidation 
 
The consolidated financial statements incorporate the financial statements of 
the company and entities controlled by the company (its subsidiaries) made up 
to 31 March each year. Control is achieved where the company has the power to 
govern the financial and operating policies of an investee entity so as to 
obtain benefits from its activities. 
 
On acquisition, the assets and liabilities and contingent liabilities of a 
subsidiary are measured at their fair values at the date of acquisition. Any 
excess of the cost of acquisition over the fair values of the identifiable net 
assets acquired is recognised as goodwill. Any deficiency of the cost of 
acquisition below the fair values of the identifiable net assets acquired (i.e. 
discount on acquisition) is credited to the income statement in the period of 
acquisition. The results of subsidiaries acquired or disposed of during the 
year are included in the group income statement from the effective date of 
acquisition or up to the effective date of disposal, as appropriate. 
 
Where necessary, adjustments are made to the financial statements of 
subsidiaries to bring the accounting policies used into line with those used by 
the group. All intra-group transactions, balances, income and expenses are 
eliminated on consolidation. 
 
Revenue recognition 
 
Interest income is accrued on a time basis, by reference to the principal 
outstanding and at the effective interest rate applicable, which is the rate 
that exactly discounts estimated future cash receipts through the expected life 
of the financial asset to that asset's net carrying amount. 
 
Foreign currencies 
 
Transactions in currencies other than pounds sterling are recorded at the rates 
of exchange prevailing on the dates of the transactions. At the end of each 
reporting period, monetary assets and liabilities that are denominated in 
foreign currencies are retranslated at the rates prevailing on the period end 
date. Non-monetary assets and liabilities carried at fair value that are 
denominated in foreign currencies are translated at the rates prevailing at the 
date when the fair value was determined. Gains and losses arising on 
retranslation are included in net profit or loss for the period. 
 
On consolidation, the assets and liabilities of the group's overseas operations 
are translated at exchange rates prevailing on the period end date. Exchange 
differences arising, if any, are classified as items of other comprehensive 
income and transferred to the group's translation reserve within equity. 
 
Such translation differences are reclassified to profit or loss, and recognised 
as income or as expense, in the period in which there is a disposition of the 
operation. 
 
Segmental analysis 
 
Operating segments are identified on the basis of internal reports about 
components of the group that are regularly reviewed by the chief operating 
decision-maker. 
 
Retirement benefit costs 
 
Payments to defined contribution retirement benefit schemes are charged as an 
expense as they fall due. There are no defined benefit retirement schemes. 
 
      Equity-settled employee benefits 
 
The group provides equity-settled benefits to certain employees. Equity-settled 
employee benefits are measured at fair value at the date of grant. The fair 
value determined at the grant date is expensed on a straight-line basis over 
the vesting period, based on the group's estimate of shares that will 
eventually vest and adjusted for the effect of non-market based vesting 
conditions. 
 
Fair value is measured by use of a Black-Scholes model. 
 
Taxation 
 
Deferred tax is the tax expected to be payable or recoverable on differences 
between the carrying amounts of assets and liabilities in the financial 
statements and the corresponding tax bases used in the computation of taxable 
profit, and is accounted for using the period end liability method. Deferred 
tax liabilities are generally recognised for all taxable temporary differences 
and deferred tax assets are recognised to the extent that it is probable that 
taxable profits will be available against which deductible temporary 
differences can be utilised. Such assets and liabilities are not recognised if 
the temporary difference arises from goodwill or from the initial recognition 
(other than in a business combination) of other assets and liabilities in a 
transaction that affects neither the tax profit nor the accounting profit. 
 
Deferred tax liabilities are recognised for taxable temporary differences 
arising on investments in subsidiaries and associates, and interests in joint 
ventures, except where the group is able to control the reversal of the 
temporary difference and it is probable that the temporary difference will not 
reverse in the foreseeable future. 
 
The carrying amount of any deferred tax assets is reviewed at each period end 
date and reduced to the extent that it is no longer probable that sufficient 
taxable profits will be available to allow all or part of the asset to be 
recovered. 
 
Deferred tax is calculated at the tax rates that are expected to apply in the 
period when the liability is settled or the asset is realised. Deferred tax is 
charged or credited in the income statement, except when it relates to items 
charged or credited directly to equity, in which case the deferred tax is also 
dealt with in equity. 
 
The charge for current tax is based on the results for the year as adjusted for 
items which are non-taxable or disallowed. It is calculated using rates that 
have been enacted or substantively enacted by the balance sheet date. 
 
Property, plant and equipment 
 
The group's freehold land is stated in the statement of financial position at 
cost. The directors consider that the residual value of buildings, based on 
prices prevailing at the date of acquisition and at each subsequent reporting 
date as if the asset were already of the age and in the condition expected at 
the end of its useful life, is such that any depreciation would not be 
material. The carrying value is reviewed annually to consider whether it 
exceeds the recoverable value in which case any impairment in value would be 
charged immediately to the income statement. 
 
Plant and office equipment are stated in the statement of financial position at 
cost, less depreciation. Depreciation is charged on a straight line basis at 
the annual rate of 25%. Residual values and the useful lives of these assets 
are also reviewed annually. 
 
Intangible assets - mineral property exploration and evaluation costs 
 
Intangible assets are stated in the statement of financial position at cost, 
less accumulated amortisation and provisions for impairment. 
 
Costs incurred prior to obtaining the legal rights to explore a mineral 
property are expensed immediately to the income statement. Mineral property 
exploration and evaluation costs are capitalised until the results of the 
projects, which are usually based on geographical areas, are known; these 
include an allocation of administrative and management costs as determined 
appropriate to the project by management. 
 
Where a project is successful, the related exploration costs are amortised over 
the life of the estimated mineral reserve on a unit of production basis. Where 
a project is terminated, the related exploration costs are expensed 
immediately. Where no internally-generated intangible asset can be recognised, 
development expenditure is recognised as an expense in the period in which it 
is incurred. 
 
Impairment of tangible and intangible assets 
 
The values of mineral properties are reviewed annually for indications of 
impairment and when these are present a review to determine whether there has 
been any impairment is carried out. They are written down when any impairment 
in their value has occurred and are written off when abandoned. Where a 
provision is made or reversed it is dealt with in the income statement in the 
period in which it arises. 
 
Investments 
 
Investments in subsidiaries are shown at cost less provisions for impairment in 
value. Income from investments in subsidiaries together with any related 
withholding tax is recognised in the income statement in the period to which it 
relates. 
 
Investments which are not subsidiaries are shown at cost unless there is a 
practical method of determining a reliable fair value, in which case that fair 
value is used. 
 
Provisions 
 
Provisions are recognised when the group has a present obligation as a result 
of a past event and it is probable that the group will be required to settle 
that obligation. Provisions are measured at the directors' best estimate of the 
expenditure required to settle that obligation at the end of the reporting 
period and are discounted to present value where the effect is material. 
 
Financial instruments 
 
Financial assets and liabilities are initially recognised and subsequently 
measured based on their classification as "loans and receivables", "available 
for sale financial assets" or "other financial liabilities". 
 
Loans and receivables are non-derivative financial assets with fixed or 
determinable payments that are not quoted in an active market. They are 
included in current assets, except where they mature more than 12 months after 
the period end date: these are classified as non-current assets. 
 
(a)  Trade and other receivables. Trade and other receivables are measured at 
initial recognition at fair value and are subsequently measured at amortised 
cost using the effective interest rate method. Appropriate allowances for 
estimated irrecoverable amounts are recognised in the income statement when 
there is objective evidence that the asset is impaired. 
 
(b)  Cash and cash equivalents. The group considers all highly liquid 
investments which are readily convertible into known amounts of cash and have a 
maturity of three months or less when acquired to be cash equivalents. The 
management believes that the carrying amount of cash equivalents approximates 
fair value because of the short maturity of these financial instruments. 
 
 (c)  Available for sale financial assets.  Unlisted shares held by the group 
that are classified as being AFS are stated at cost on the basis that the 
shares are not quoted and a reliable fair value is not able to be estimated. 
 
Dividends on AFS equity instruments are recognised in profit or loss when the 
group's right to receive the dividends is established. 
 
The fair value of AFS monetary assets denominated in a foreign currency is 
determined in that foreign currency and translated at the spot rate at the 
balance sheet date. The foreign exchange gains and losses that are recognised 
in profit or loss are determined based on amortised cost of the monetary asset. 
Other foreign exchange gains and losses are recognised in other comprehensive 
income. 
 
(d)  Trade and other payables. Trade payables are not interest bearing and are 
initially recognised at fair value and subsequently measured at amortised cost 
using the effective interest rate method. 
 
(e)  Deposits. Deposits are recognised at fair value on initial recognition and 
are subsequently measured at amortised cost using the effective interest rate 
method. 
 
(f)  Loans. Loans are recognised at fair value on initial recognition and are 
subsequently measured at amortised cost using the effective interest rate 
method. 
 
Equity instruments 
 
Equity instruments issued by the company are recorded at the proceeds received, 
net of direct issue costs. 
 
Leases 
 
Leases are classified as finance leases whenever the terms of the lease 
transfer substantially all the risks and rewards of ownership to the lessee. 
All other leases are classified as operating leases. 
 
Mining lease payments are recognised as an operating expense in the income 
statement on a straight line basis over the lease term unless they relate to 
mineral property exploration and evaluation  in which case they are 
capitalised. There are no finance leases or other operating leases. 
 
New accounting standards 
 
There are no new accounting standards and interpretations that the group and 
company has adopted in the year. 
 
The group and company have adopted the amendments to the following accounting 
standards interpretation: 
 
Annual Improvements 2010 - 2012 cycle amendments to IFRS2, IFRS3, IFRS8 IAS 16, 
IAS24 and IAS38. 
 
Annual Improvements 2011 - 2013 cycle amendments to IFRS3, IFRS13 and IAS40. 
 
There has been no impact of adopting the amendments. 
 
The group and the company have not applied the following IFRS, IAS and IFRICs 
that are applicable and have been issued but are not yet effective: 
 
  * IAS 1 Presentation of Financial Information: Amendment relates to the 
    disclosure initiative; Effective - Annual periods beginning on or after 1 
    January 2016 
  * IAS16  Property, plant and equipment and IAS 38 Intangible Assets: 
    Amendments regarding the clarification of acceptable methods of 
    depreciation and amortisation; Amended May 2014; Effective for Annual 
    periods beginning on or after 1 January 2016 
  * IAS 27  Separate Financial Statements (as amended in 2011): Original issue; 
    Issued - May 2011; Effective - Annual periods beginning on or after 1 
    January 2016 
  * IFRS 11 Joint Arrangements: Amendment relating to the accounting for 
    acquisition of interests in joint operations; Effective - Annual periods 
    beginning on or after 1 January 2016 
  * IAS 12: Income taxes: Amendment relating to recognition of deferred tax 
    assets on unrealised losses; Effective - Annual periods beginning on or 
    after 1 January 2017 
  * IAS 7: Statement of cash flows: Amendment relating to the disclosure 
    initiative; Effective - Annual periods beginning on or after 1 January 2017 
  * IFRS 15 Revenue from contracts with customers: Original issue; Issued - May 
    2014; Effective - Annual periods beginning on or after 1 January 2018 
  * IFRS 9 Financial Instruments; Original issue; Issued - November 2009; 
    Effective - Annual periods beginning on or after 1 January 2018 
  * IFRS 16 Leases: Original issue, Issued - January 2016; effective - Annual 
    periods beginning on or after 1 January 2019 
 
The directors expect that the adoption of the above pronouncements (with the 
possible exceptions of IFRS9, IFRS15 and IFRS16) will have no material impact 
to the financial statements in the period of initial application other than 
disclosure. IFRS 9 is still ongoing and yet to be adopted by the EU. The 
directors have not yet assessed the full impact of IFRS15 and IFRS16 on these 
financial statements. 
 
The directors do not consider the adoption of the amendments resulting from the 
Annual Improvements 2012 - 2014 cycle will result in a material impact on the 
financial information of the group and company. These amendments to IFRS 5, 
IFRS 7, IAS 19 and IAS 34 are effective for accounting periods beginning on or 
after 1 January 2016. 
 
There have been no other new or revised International Financial Reporting 
Standards, International Accounting Standards or Interpretations that are in 
effect since that last annual report that have a material impact on the 
financial statements. 
 
Judgements made in applying accounting policies and key sources of estimation 
uncertainty 
 
The following critical judgements have been made in the process of applying the 
group's accounting policies: 
 
(a) In determining the treatment of exploration, evaluation and development 
expenditures the directors are required to make estimates and assumptions as to 
future events and circumstances. There are uncertainties inherent in making 
such assumptions, especially with regard to: ore resources and the life of a 
mine; recovery rates; production costs; commodity prices and exchange rates. 
Assumptions that are valid at the time of estimation may change significantly 
as new information becomes available and changes in these assumptions may alter 
the economic status of a mining unit and result in resources or reserves being 
restated. Operation of a mine and the receipt of cashflows from it are 
dependent on finance being available to fund the development of the property. 
 
(b) In connection with possible impairment of assets the directors assess each 
potentially cash generating unit annually to determine whether any indication 
of impairment exists. The judgements made when doing so are similar to those 
set out above and are subject to the same uncertainties. 
 
Nature and purpose of equity reserves 
 
The share premium reserve represents the consideration that has been received 
in excess of the nominal value of shares on issue of new ordinary share 
capital, less any direct costs of issue. The currency translation reserve 
represents the variations on revaluation of overseas foreign subsidiaries and 
associates. The retained earnings reserve represents profits and losses 
retained in previous and the current period. 
 
3    Segmental information 
 
The group is engaged in the business of exploring and evaluating the 
wholly-owned Parys Mountain project in North Wales, managing its interest in 
the Grangesberg properties and has an investment in the Labrador iron project 
in eastern Canada. In the opinion of the directors, the group's activities 
comprise one class of business which is mine exploration, evaluation and 
development. The group reports geographical segments; these are the basis on 
which information is reported to the board. As yet there have been no site 
expenses incurred in respect of the group's interest in Grangesberg. 
 
Income statement 
analysis 
 
                                2016                                      2015 
 
                      UK    Sweden    Canada                  UK    Sweden      Canada       Total 
                                               Total 
 
                                                                                     GBP           GBP 
                   GBP         GBP         GBP         GBP         GBP         GBP 
 
Expenses                   (3,673)         -                                         -   (355,071) 
               (108,606)                     (112,279) (187,815) (167,256) 
 
Impairment of          -         -         -         -         -         - 
    investment                                                             (1,231,218) (1,231,218) 
 
Exchange               -         -         -         -         -         -    (26,766)    (26,766) 
difference 
    on above 
 
Investment           335         -         -       335       882         -           -         882 
income 
 
Finance costs                    -         -                             -           -   (119,863) 
               (142,467)                     (142,467) (119,863) 
 
Exchange rate    (1,976)      (63)         -   (2,039)   (4,574)         -           -     (4,574) 
loss 
 
Loss for the               (3,736)         - 
year           (252,714)                     (256,450) (311,370) (167,256) (1,257,984) (1,736,610) 
 
 
 
 
Assets and 
liabilities 
 
                               31 March 2016                               31 March 2015 
 
                        UK     Sweden    Canada                     UK     Sweden    Canada       Total 
                                                   Total 
 
                          GBP                               GBP           GBP                               GBP 
                                GBP         GBP                                 GBP         GBP 
 
Non-current      15,254,391    86,659         1  15,341,051  15,204,686    86,659         1  15,291,346 
assets 
 
Current assets       43,069     1,194         -      44,263     123,364     4,486         -     127,850 
 
Liabilities                                   -                                           - 
                (3,038,460) (245,461)           (3,283,921) (2,831,473) (222,586)           (3,054,059) 
 
Net assets/      12,259,000                   1  12,101,393  12,496,577                   1  12,365,137 
liabilities                 (157,608)                                   (131,441) 
 
 
4    Operating result 
 
The loss before taxation for the year has been 
arrived at after charging: 
 
                                           2016           2015 
 
                                            GBP              GBP 
 
Fees payable to the group's auditor: 
 
      for the audit of the annual        22,000         22,000 
accounts 
 
      for the audit of subsidiaries'      3,000          3,000 
accounts 
 
      for other services - taxation       2,000          2,500 
compliance 
 
      for other services                    800            800 
 
Directors' remuneration                       -         24,750 
 
Foreign exchange loss                     2,039          4,574 
 
 
5    Staff costs 
 
The average monthly number of persons employed (including 
executive directors) was: 
 
                                                2016      2015 
 
Administrative                                     3         3 
 
                                                   3         3 
 
Their aggregate remuneration was:                GBP         GBP 
 
Wages and salaries                             9,205    33,985 
 
Social security costs                            990     2,118 
 
Other pension costs                                -         - 
 
                                              10,195    36,103 
 
 
Details of directors' remuneration and share options are given in the 
directors' remuneration report. 
 
6    Investment income 
 
                                                    2016                       2015 
 
Loans and receivables 
                                           GBP                          GBP 
 
Interest on bank deposits                             63                        672 
 
Interest on site               15                    272                        210 
re-instatement deposit 
 
                                                     335                        882 
 
 
7    Finance costs 
 
                                                    2016                       2015 
 
Loans and payables 
                                           GBP                          GBP 
 
Loan interest to Juno Limited  19                127,718                    116,043 
 
Loan interest to Eurmag AB     19                 14,749                      3,820 
 
                                                 142,467                    119,863 
 
 
For both loans the interest shown is accrued and not required to be paid in 
cash. 
 
8    Taxation 
 
Activity during the year has generated trading losses for taxation purposes 
which may be offset against investment income and other revenues. Accordingly 
no provision has been made for Corporation Tax. There is an unrecognised 
deferred tax asset at 31 March 2016 of GBP1.2 million (2015 - GBP1.3 million) 
which, in view of the group's trading results, is not considered by the 
directors to be recoverable in the short term. There are also capital 
allowances, including mineral extraction allowances, of GBP12.5 million unclaimed 
and available at 31 March 2016 (2015 - GBP12.4 million). No deferred tax asset is 
recognised in respect of these allowances. 
 
                                          2016             2015 
 
                                          GBP               GBP 
 
Current tax                                  -                - 
 
Deferred tax                                 -                - 
 
Total tax                                    -                - 
 
Domestic income tax is calculated at 20% of the estimated 
assessed profit for the year. 
 
In  2015 the rate used was 21% and the change this year is due 
to a change in Corporation Tax 
 
rates. Taxation for other jurisdictions is calculated at the 
rates prevailing in the relevant 
 
jurisdictions. 
 
The total charge for the year can be reconciled to the 
accounting profit or loss as follows: 
 
Loss for the year                    (256,450)      (1,736,610) 
 
Tax at the domestic income tax        (51,290)        (364,688) 
rate of 20% 
    (2015 - 21%) 
 
Tax effect of: 
 
Expenses that are not deductible             -                - 
          in determining taxable 
result: 
 
              Losses on interest             -          364,688 
in investments 
 
Unrecognised deferred tax on            51,290                - 
losses 
 
Total tax                                    -                - 
 
 
9    Earnings per ordinary share 
 
                                          2016             2015 
 
                                          GBP                GBP 
 
Earnings 
 
Loss for the year                    (256,450)      (1,736,610) 
 
Number of shares 
 
Weighted average number of         160,608,051      160,608,051 
ordinary shares for the purposes 
of basic earnings per share 
 
 
 
Shares deemed to be issued for no 
consideration in respect of 
employee options 
 
Weighted average number of         160,608,051      160,608,051 
ordinary shares 
 for the purposes of diluted 
earnings per share 
 
Basic earnings per share                (0.2)p           (1.1)p 
 
Diluted earnings per share              (0.2)p           (1.1)p 
 
 
As the group has a loss for the year ended 31 March 2016 the effect of the 
outstanding share options is anti-dilutive and diluted earnings are reported to 
be the same as basic earnings. 
 
10  Mineral property exploration and evaluation costs - group 
 
                                Parys 
                            Mountain 
 
Cost                            GBP 
 
At 1 April 2014            14,802,048 
 
Additions - site               59,049 
 
Additions - rentals &          16,096 
charges 
 
At 31 March 2015           14,877,193 
 
Additions - site               27,045 
 
Additions - rentals &          22,388 
charges 
 
At 31 March 2016           14,926,626 
 
Carrying amount 
 
Net book value 2016        14,926,626 
 
Net book value 2015        14,877,193 
 
 
Included in the additions are mining lease expenses of GBP16,200 (2015 - GBP 
16,096). 
 
Potential impairment of mineral property 
 
Accumulated exploration and evaluation expenditure in respect of the Parys 
project is carried in the financial statements at cost, less an impairment 
provision where there are grounds to believe that the discounted present value 
of the future cash flows from the project is less than the carrying value or 
there are other reasons to indicate that the carrying value is unsuitable. 
 
This year the directors carried out an impairment review with an effective date 
of 26 March 2016. This review was based on an estimate of discounted future 
cash flows from the development and operation of the Parys Mountain project 
over the initial projected mine life of 16 years and assumed that there would 
be a two year delay before any activities commence. The directors have used 
past experience and an assessment of future conditions, together with external 
sources of information, to determine the assumptions which were adopted in the 
preparation of a financial model used to estimate the cashflows. 
 
The key assumptions utilised were: 
 
  * Capital costs were estimated at current costs when the expenditure is 
    planned to be incurred; neither revenues nor operating costs take into 
    account any inflation. 
  * Metal prices (long-term estimates): zinc 1.25 US$/lb; copper 2.50 US$/lb; 
    lead 1.00 US$/lb; silver US$17.50 per ounce and gold US$1275 per ounce. 
    Exchange rate US$1.40/GBP1.00. 
  * The discount rate of 10% applied to future cashflows is one which reflects 
    the directors' current market assessment of the time value of money and any 
    risk factors which have not been adjusted already in the preparation of the 
    forecast. 
 
The directors estimated the sensitivity of the assumptions used in the cashflow 
model which would significantly affect the discounted net present value of the 
projected Parys cashflows. The figures which follow are the variation expressed 
in percent of each specific assumption which would, on its own, reduce the 
calculated net present value to the carrying value of the intangible asset in 
the accounts: copper price -20%, zinc price -6%, lead price -13%, capital 
expenditure +8%, operating costs +11% and the discount rate +9%. 
 
The directors re-evaluated the impairment review following the EU Referendum 
result and decided there was no requirement for any change in their original 
assessment or calculations. Any depreciation in the value of sterling in 
relation to the US dollar would have a positive effect on the project 
cashflows. 
 
Based on the above parameters the directors believe that no impairment 
provision is necessary or appropriate. However estimates of the net present 
value of any project, and particularly one like Parys Mountain, are always 
subject to many factors and wide margins of error. The directors believe that 
the estimates and calculations supporting their conclusions have been carefully 
considered and are a fair representation of the projected financial performance 
of the project. 
 
Based on the review set out above the directors have determined that no 
impairment provision is required in the financial statements in respect of the 
carrying value of the Parys property. 
 
11  Property, plant and equipment 
 
Group                   Freehold   Plant &    Office     Total 
                        land and equipment equipment 
                        property 
 
Cost                        GBP         GBP         GBP         GBP 
 
At 1 April 2014          204,687    17,434     5,487   227,608 
 
At 31 March 2015 and     204,687    17,434     5,487   227,608 
2016 
 
Depreciation 
 
At 1 April 2014                -    17,434     5,487    22,921 
 
At 31 March 2015 and           -    17,434     5,487    22,921 
2016 
 
Carrying amount 
 
At 31 March 2015 and     204,687         -         -   204,687 
2016 
 
 
 
Company                 Freehold   Plant &    Office     Total 
                        land and equipment equipment 
                        property 
 
Cost                        GBP         GBP         GBP         GBP 
 
At 1 April 2014                -    17,434     5,487    22,921 
 
At 31 March 2015 and           -    17,434     5,487    22,921 
2016 
 
Depreciation 
 
At 1 April 2014                -    17,434     5,487    22,921 
 
At 31 March 2015 and           -    17,434     5,487    22,921 
2016 
 
Carrying amount 
 
At 31 March 2015 and           -         -         -         - 
2016 
 
12  Subsidiaries - company 
 
The subsidiaries of the company at 31 March 2016 and 2015 were as follows: 
 
Name of company                Country of   Percentage  Principal activity 
                              incorporation   owned 
 
Labrador Iron plc              Isle of Man     100%       Holder of the 
                                                       company's investment 
                                                         in Labrador Iron 
                                                          Mines Holdings 
                                                             Limited 
 
Anglo Canadian Exploration      England &      100%          Dormant 
(Ace) Limited                     Wales 
 
Parys Mountain Mines Limited    England &      100%     Development of the 
                                  Wales                   Parys Mountain 
                                                         mining property 
 
Parys Mountain Land Limited     England &      100%     Holder of part of 
                                  Wales                 the Parys Mountain 
                                                             property 
 
Parys Mountain Heritage         England &      100%     Holder of part of 
Limited                           Wales                 the Parys Mountain 
                                                             property 
 
Angmag AB                        Sweden        100%       Holder of the 
                                                       company's investment 
                                                             in GIAB 
 
13  Investments -  company 
 
                             Shares at          Capital           Total 
                                cost         contributions 
 
                                 GBP                 GBP                GBP 
 
At 1 April 2014                  100,103                         13,977,564 
                                             13,877,461 
 
Advanced                           3,922           135,540          139,462 
 
At 31 March 2015                 104,025        14,013,001       14,117,026 
 
Advanced                               -            27,101           27,101 
 
Repaid                                 -                 -                - 
 
At 31 March 2016                 104,025        14,040,102       14,144,127 
 
The realisation of investments is dependent on finance being available for 
development and on a number 
of other factors. Interest is not charged on capital contributions. 
 
14 Investments -  group 
 
                                   Labrador   Grangesberg    Total 
 
                                          GBP        GBP              GBP 
 
 
At 31 March 2014                   1,257,985            -   1,257,985 
 
Addition during period                     -       86,659      86,659 
 
Impairment resulting             (1,231,218)            - (1,231,218) 
from adjustment to nominal value 
 
Exchange difference arising on      (26,766)            -    (26,766) 
adjustment above 
 
At 31 March 2015                           1       86,659      86,660 
 
Addition during period                     -            -           - 
 
At 31 March 2016                           1       86,659      86,660 
 
LIM 
 
The group's  investment in LIM is now classified as 'unquoted'. Based on the 
difficulty of determining a fair market value the directors decided in 2015 to 
write down the value of the LIM shares to a nominal value of GBP1 and to 
reclassify it as Level 3 rather than Level 1 under the IFRS fair value 
hierarchy. This treatment has been continued this year. 
 
Grangesberg 
 
The group has, through its Swedish subsidiary Angmag AB, a 6% ownership 
interest in GIAB, a Swedish company which holds rights over the Grangesberg 
iron ore deposits. This investment has been initially recognised and 
subsequently measured at cost, on the basis that the shares are not quoted and 
a reliable fair value is not able to be estimated. The group has a right of 
first refusal (expiring on 30 June 2018) over a further 51% of the equity of 
GIAB together with management direction of the activities of GIAB, subject to 
certain restrictions. The group has significant influence over certain relevant 
activities of GIAB however equity accounting has not been applied in respect of 
this influence as the directors consider this would not have any material 
affect. 
 
15  Deposit 
 
                                        Group 
 
                                  2016        2015 
 
                                  GBP           GBP 
 
Site re-instatement deposit 
                             123,078     122,806 
 
 
This deposit was required and made under the terms of a Section 106 Agreement 
with the Isle of Anglesey County Council which has granted planning permissions 
for mining at Parys Mountain. The deposit is refundable upon restoration of the 
permitted area to the satisfaction of the Planning Authority. The carrying 
value of the deposit approximates to its fair value. 
 
16  Other receivables 
 
                                        Group                    Company 
 
                                  2016        2015          2016        2015 
 
                                  GBP           GBP             GBP           GBP 
 
Other 
                             32,759      30,977        15,433      13,945 
 
 
The carrying value of the receivables approximates to their fair value. 
 
17  Cash and cash equivalents 
 
                                            Group                                Company 
 
                                        2016         2015                    2016                 2015 
 
                                        GBP            GBP                       GBP                    GBP 
 
Held in sterling                                                          7,867              72,088 
                              9,120           72,571 
 
Held in Canadian dollars 
                              1,190           19,816                            -  - 
 
Held in US dollars 
                              408             2,167           -                    - 
 
Held in Swedish Krona 
                              786             2,319           -                           - 
 
                                                                          7,867              72,088 
                              11,504          96,873 
 
 
The carrying value of the cash approximates to its fair value. 
 
18  Trade and other payables 
 
                                           Group                           Company 
 
                                         2016       2015                    2016       2015 
 
                                         GBP          GBP                       GBP          GBP 
 
Trade payables                                                       (64,142) 
                              (77,465)         (71,538)                           (58,142) 
 
Taxes 
                                  -            (1,848)       -                    (1,848) 
 
Other accruals                                                       (53,293) 
                              (58,794)         (48,171)                           (42,670) 
 
                                    (136,259)                      (117,435) 
                                               (121,557)                          (102,660) 
 
 
The carrying value of the trade and other payables approximates to their fair 
value. 
 
19  Loans 
 
                                          Group                               Company 
 
                                     2016         2015                    2016                 2015 
 
                                     GBP            GBP                       GBP                    GBP 
 
Loan from Juno Limited                                        (2,852,201)          (2,659,916) 
                              (2,852,201)  (2,659,916) 
 
Loan from Eurmag AB 
                              (245,461)    (222,586)       -                    - 
 
                                                              (2,852,201)          (2,659,916) 
                              (3,097,662)  (2,882,502) 
 
 
Juno: Apart from advances amounting to GBP64,567 there has been no change in the 
loan principal during the year. The loan is provided under a working capital 
agreement, denominated in sterling, unsecured and carries interest at 10% per 
annum on the principal only. It is repayable from any future financing 
undertaken by the company, or on demand following a notice period of 367 days. 
The terms of the facility were approved by an independent committee of the 
board. The carrying value of the loan approximates to its fair value. 
 
Eurmag: The loan arose in connection with the acquisition of the investment in 
Grangesberg. It is the subject of a letter agreement, denominated in Swedish 
Krona, is unsecured and carries interest at 6.5% per annum on the principal 
only. It is repayable from any future financing undertaken by the company, or 
on demand following a notice period of 367 days. The terms of the facility were 
approved by an independent committee of the board. The carrying value of the 
loan approximates to its fair value. 
 
20  Long term provision 
 
                                         Group 
 
                                   2016        2015 
 
                                   GBP           GBP 
 
Provision for site             (50,000)    (50,000) 
reinstatement 
 
 
The provision for site reinstatement covers the estimated costs of 
reinstatement at the Parys Mountain site of the work done and changes made by 
the group up to the date of the accounts. These costs would be payable on 
completion of mining activities (which is estimated to be more than 20 years' 
after mining commences) or on earlier abandonment of the site. There are 
significant uncertainties inherent in the assumptions made in estimating the 
amount of this provision, which include judgements of changes to the legal and 
regulatory framework, magnitude of possible contamination and the timing, 
extent and costs of required restoration and rehabilitation activity. 
 
21  Share capital 
 
                         Ordinary shares       Deferred shares     Total 
                                  of 1p                  of 4p 
 
Issued and           Nominal  Number       Nominal      Number   Nominal 
fully paid           value GBP               value GBP               value GBP 
 
                                                                       - 
 
At 31 March 2014,  1,606,081 160,608,051 5,510,833 137,770,835 7,116,914 
2015 and 2016 
 
 
The deferred shares are non-voting, have no entitlement to dividends and have 
negligible rights to return of capital on a winding up. 
 
22  Equity-settled employee benefits 
 
2004 Unapproved share option plan 
 
This group plan provides for a grant price equal to or above the average quoted 
market price of the ordinary shares for the three trading days prior to the 
date of grant. All options granted to date have carried a performance 
criterion, namely that the company's share price performance from the date of 
grant must exceed that of the companies in the top quartile of the FTSE 100 
index. The vesting period for any options granted since 2004 has been one year. 
If the options remain unexercised after a period of 10 years from the date of 
grant, they expire. Options are forfeited if the employee leaves employment 
with the group before the options vest. 
 
                                             2016                      2015 
 
                            Options      Weighted     Options      Weighted 
                                          average                   average 
                                         exercise                  exercise 
                                         price in                  price in 
                                            pence                     pence 
 
 Outstanding at beginning 6,050,000         17.06  11,550,000         10.90 
of period 
 
 Granted during the               -             -           -             - 
period 
 
 Forfeited during the             -             -           -             - 
period 
 
 Exercised during the             -             -           -             - 
period 
 
 Expired during the       1,550,000          4.13   5,500,000          4.13 
period 
 
 Outstanding at the end   4,500,000         19.27   6,050,000         17.06 
of the period 
 
 Exercisable at the end   4,500,000         19.27   6,050,000         17.06 
of the period 
 
 
The plan has now closed and no options were granted or forfeited in the year. 
Options over 1,550,000 shares expired during the year. The options outstanding 
at 12H31 March 2016 had a weighted average exercise price of 19.27 pence (2015 
- 17.06 pence), and a weighted average remaining contractual life of 2 years 
(2015 - 2 years). As all options had vested by 31 March 2010, the group 
recognised no expenses in respect of equity-settled employee remuneration in 
respect of the years ended 31 March 2015 and 2016. 
 
        2014 Unapproved share option plan 
 
This group plan, approved on 30 September 2014, has very similar terms and 
conditions to the 2004 plan. No option grants have yet been made under this 
plan. 
 
A summary of options granted and outstanding, all of which are over ordinary 
shares of 1 pence, is as follows: 
 
 Scheme             Number  Nominal  Exercise   Exercisable   Exercisable 
                            value GBP   price            from         until 
 
 2004 Unapproved 3,800,000   38,000   21.90p    26 November   26 November 
                                                       2008          2017 
 
 2004 Unapproved   700,000    7,000   5.00p   27 March 2010 27 March 2019 
 
 Total           4,500,000   45,000 
 
23  Results attributable to Anglesey Mining plc 
 
The loss after taxation in the parent company amounted to GBP242,692 (2015 loss GBP 
313,039). The directors have taken advantage of the exemptions available under 
section 408 of the Companies Act 2006 and not presented an income statement for 
the company alone. 
 
24  Financial instruments 
 
Capital risk management 
 
There have been no changes during the year in the group's capital risk 
management policy. 
 
The group manages its capital to ensure that entities in the group will be able 
to continue as going concerns while optimising the debt and equity balance. The 
capital structure of the group consists of debt, which includes the borrowings 
disclosed in note 19, the cash and cash equivalents and equity comprising 
issued capital, reserves and retained earnings. 
 
The group does not enter into derivative or hedging transactions and it is the 
group's policy that no trading in financial instruments be undertaken. The main 
risks arising from the group's financial instruments are currency risk and 
interest rate risk. The board reviews and agrees policies for managing each of 
these risks and these are summarised below. 
 
Interest rate risk 
 
The amounts advanced under the Juno loans are at a fixed rate of interest of 
10% per annum and as a result the group is not exposed to interest rate 
fluctuations. Interest received on cash balances is not material to the group's 
operations or results. 
 
The company (Anglesey Mining plc) is exposed to minimal interest rate risks. 
 
Liquidity risk 
 
The group has ensured continuity of funding through a mixture of issues of 
shares and the working capital agreement with Juno Limited. 
 
Trade creditors are payable on normal credit terms which are usually 30 days. 
The loans due to Juno and Angmag carry a notice period of 367 days. Juno,  in 
keeping with its practice since drawdown commenced more than 10 years ago, has 
indicated that it has no current intention of demanding repayment. No such 
notice had been received by 13 July 2016 in respect of either of the loans and 
they are classified as having a maturity date between one and two years from 
the period end. 
 
Currency risk 
 
The presentational currency of the group and company is pounds sterling. The 
loan from Juno Limited is denominated in pounds sterling. As a result, the 
group has no currency exposure in respect of this loan. Currency risk in 
respect of the investment in LIM is no longer significant. 
 
In respect of the investment in Grangesberg in Sweden if the rate of exchange 
between the Swedish Krona and sterling were to weaken against sterling by 10% 
there would be a loss to the group of GBP8,768 (2015 - GBP8,300) and if it were to 
move in favour of sterling by a similar amount there would be a gain of GBP10,716 
(2015 - GBP10,100). Regarding liabilities denominated in Krona if the rate of 
exchange between the Swedish Krona and sterling were to weaken against sterling 
by 10% there would be a gain to the group of GBP22,315 (2015 - GBP20,600) and if it 
were to move in favour of sterling by a similar amount there would be a loss of 
GBP27,273 (2015 - GBP25,200). 
 
In respect of the group's  Canadian dollar holding, if the rate of exchange 
between the Canadian dollar and sterling were to weaken against sterling by 10% 
there would be a loss to the group of GBP108 (2015 - GBP1,800) and if it were to 
move in favour of sterling by a similar amount there would be a gain of GBP132 
(2015 - GBP2,200). 
 
Potential exchange variations in respect of other foreign currencies are not 
material. 
 
Credit risk 
 
The directors consider that the entity has limited exposure to credit risk as 
the entity has immaterial receivable balances at the year-end on which a third 
party may default on its contractual obligations. The carrying amount of the 
group's financial assets represents its maximum exposure to credit risk. Cash 
is deposited with BBB or better rated banks. 
 
 Group              Available for sale         Loans & 
                         assets              receivables 
 
                   31 March    31 March   31 March  31 March 
                    2016        2015       2016      2015 
 
                     GBP           GBP         GBP         GBP 
 
Financial assets 
 
 Investments               1           1         -         - 
 
 Deposit                   -           -   123,078   122,806 
 
 Other debtors             -           -    32,759    30,977 
 
 Cash and cash             -           -    11,504    96,873 
     equivalents 
 
                           -           - 
 
                           1           1   167,341   250,656 
 
                   31 March    31 March 
                    2016        2015 
 
                     GBP           GBP 
 
Financial 
liabilities 
 
 Trade payables     (77,465)    (71,538) 
 
 Other payables     (58,794)    (50,019) 
 
 Loans 
                 (3,097,662) (2,882,502) 
 
 
                 (3,233,921) (3,004,059) 
 
 
 
 
 Company 
 
                       Loans &        Financial liabilities 
                     receivables 
 
                  31 March  31 March   31 March    31 March 
                   2016      2015       2016        2015 
 
                   GBP         GBP           GBP           GBP 
 
Financial assets 
 
 Other debtors      15,433    13,945           -           - 
 
 Cash and cash       7,867    72,088           -           - 
     equivalents 
 
Financial 
liabilities 
 
 Trade & other           -         -   (117,435)   (102,660) 
payables 
 
 Loan                    -         - 
                                     (2,852,201) (2,659,916) 
 
                    23,300    86,033 
                                     (2,969,636) (2,762,576) 
 
 
25  Related party transactions 
 
Transactions between Anglesey Mining plc and its subsidiaries are summarised in 
note 13. 
 
Juno Limited 
 
Juno Limited (Juno) which is registered in Bermuda holds 36.1% of the company's 
issued ordinary share capital. The group has the following agreements with 
Juno: (a) a controlling shareholder agreement dated September 1996 and (b) a 
consolidated working capital agreement of 12 June 2002. Interest payable to 
Juno is shown in note 7 and the balance due to Juno is shown in note 19. Except 
as set out in note 19, there were no transactions between the group and Juno or 
its group during the year. Danesh Varma is a director and, through his family 
interests, a significant shareholder of Juno. 
 
Grangesberg 
 
Bill Hooley and Danesh Varma are directors of Grangesberg Iron AB and of the 
special purpose vehicle Eurmag AB; Danesh Varma has been associated with the 
Grangesberg project since 2007 when he became a director of Mikula Mining 
Limited, a company  subsequently renamed Eurang Limited, previously  involved 
in the Grangesberg project. He did not take part in the decision to enter into 
the Grangesberg project when this was approved by the board. The group has a 
liability to Eurmag AB a subsidiary of Eurang amounting to GBP245,461 at the year 
end (2015 - GBP226,857) - see note 19. 
 
Key management personnel 
 
All key management personnel are directors and appropriate disclosure with 
respect to them is made in the directors' remuneration report. 
 
There are no other contracts of significance in which any director has or had 
during the year a material interest. 
 
26  Mineral holdings 
 
Parys 
 
(a) Most of the mineral resources delineated to date are under the western 
portion of Parys Mountain, the freehold and minerals of which are owned by the 
group. A royalty of 6% of net profits after deduction of capital allowances, as 
defined for tax purposes, from production of freehold minerals is payable. The 
mining rights over and under this area, and the leasehold area described in (b) 
below, are held in the Parys Mountain Mines Limited subsidiary. 
 
(b) Under a lease from Lord Anglesey dated December 2006, the subsidiary Parys 
Mountain Land Limited holds the eastern part of Parys Mountain, formerly known 
as the Mona Mine. An annual certain rent of GBP10,700 is payable for the year 
beginning 23 March 2015; the base part of this rent increases to GBP20,000 when 
extraction of minerals at Parys Mountain commences; this rental is 
index-linked. A royalty of 1.8% of net smelter returns from mineral sales is 
also payable. The lease may be terminated at 12 months' notice and otherwise 
expires in 2070. 
 
(c) Under a mining lease from the Crown dated December 1991 there is an annual 
lease payment of GBP5,000. A royalty of 4% of gross sales of gold and silver from 
the lease area is also payable. The lease may be terminated at 12 months' 
notice and otherwise expires in 2020. 
 
Lease payments 
 
All the group's leases may be terminated with 12 months' notice. If they are 
not so terminated, the minimum payments due in respect of the leases and 
royalty agreement are analysed as follows: within the year commencing 1 April 
2016 - GBP16,521; between 1 April 2017 and 31 March 2022 - GBP87,767. Thereafter 
the payments will continue at proportionate annual rates, in some cases with 
increases for inflation, so long as the leases are retained or extended. 
 
27  Material non cash transactions 
 
There were no material non-cash transactions in the year. 
 
28  Commitments 
 
Other than commitments under leases (note 26) there is no capital expenditure 
authorised or contracted which is not provided for in these accounts (2015 - 
nil). 
 
29  Contingent liabilities 
 
There are no contingent liabilities (2015 - nil). 
 
30  Events after the period end 
 
There are no events after the period end to report. 
 
Notice of AGM 
 
Notice is given that the 2016 annual general meeting of Anglesey Mining plc 
will be held at the offices of the company's lawyers, DLA Piper UK LLP, 1 
London Wall, London, EC2Y 5EZ on 28 September 2016 at 11.00 a.m. to consider 
and, if thought fit, to pass the following resolutions. Resolutions 1 to 12 
will be proposed as ordinary resolutions and resolution 13 will be proposed as 
a special resolution: 
 
As ordinary business 
 
 1. To receive the annual accounts and directors' and auditor's reports for the 
    year ended 31 March 2016 
 2. To approve the directors' remuneration policy report for the year ended 31 
    March 2016 
 3. To approve the directors' remuneration report for the year ended 31 March 
    2016 
 4. To reappoint John F. Kearney as a director 
 5. To reappoint Bill Hooley as a director 
 6. To reappoint David Lean as a director 
 7. To reappoint Howard Miller as a director 
 8. To reappoint Roger Turner as a director 
 9. To reappoint Danesh Varma as a director 
10. To reappoint Mazars LLP as auditor 
11. To authorise the directors to determine the remuneration of the auditor 
 
As special business 
 
12. That, pursuant to section 551 of the Companies Act 2006 ("Act"), the 
directors be and are generally and unconditionally authorised to exercise all 
powers of the Company to allot shares in the Company or to grant rights to 
subscribe for or to convert any security into shares in the Company up to an 
aggregate nominal amount of GBP540,000, provided that (unless previously revoked, 
varied or renewed) this authority shall expire on 31 December 2017, save that 
the Company may make an offer or agreement before this authority expires which 
would or might require shares to be allotted or rights to subscribe for or to 
convert any security into shares to be granted after this authority expires and 
the directors may allot shares or grant such rights pursuant to any such offer 
or agreement as if this authority had not expired. 
 
This authority is in substitution for all existing authorities under section 
551 of the Act (which, to the extent unused at the date of this resolution, are 
revoked with immediate effect). 
 
13. That pursuant to section 570 of the Act, the directors be and are generally 
empowered to allot equity securities (within the meaning of section 560 of the 
Act) for cash pursuant to the authority granted under section 551 of the Act 
pursuant to resolution 12 above as if section 561(1) of the Act did not apply 
to any such allotment, provided that this power shall be limited to the 
allotment of equity securities: 
 
(a) in connection with an offer of equity securities (whether by way of a 
rights issue, open offer or otherwise) (i) to holders of ordinary shares in the 
capital of the company in proportion (as nearly as practicable) to the 
respective numbers of ordinary shares held by them; and (ii) to holders of 
other equity securities in the capital of the company, as required by the 
rights of those securities or, subject to such rights, as the directors 
otherwise consider necessary but subject to such exclusions or other 
arrangements as the directors may deem necessary or expedient in relation to 
treasury shares, fractional entitlements, record dates or any legal or 
practical problems under the laws of any territory or the requirements of any 
regulatory body or stock exchange; and 
 
(b) otherwise than pursuant to paragraph 14(a) above, up to an aggregate 
nominal amount of GBP401,500 
 
and (unless previously revoked, varied or renewed) this power shall expire on 
31 December 2017, save that the Company may make an offer or agreement before 
this power expires which would or might require equity securities to be 
allotted for cash after this power expires and the directors may allot equity 
securities for cash pursuant to any such offer or agreement as if this power 
had not expired. This power is in substitution for all existing powers under 
section 570 of the Act which, to the extent effective at the date of this 
resolution, are revoked with immediate effect. 
 
By order of the board 
 
Danesh Varma 
 
Company secretary 
 
25 July 2016 
 
Notes to the notice of AGM 
 
Entitlement to attend and vote 
 
1.       The right to vote at the meeting is determined by reference to the 
register of members. Only those shareholders registered in the register of 
members of the Company as at  the close of business on 26 September 2016 (or, 
if the meeting is adjourned, 48 hours (excluding any part of a day that is not 
a working day) before the date and time of the adjourned meeting) shall be 
entitled to attend and vote at the meeting in respect of the number of shares 
registered in their name at that time. Changes to entries in the register of 
members after that time shall be disregarded in determining the rights of any 
person to attend or vote (and the number of votes they may cast) at the 
meeting. 
 
Proxies 
 
2.       A shareholder is entitled to appoint another person as his or her 
proxy to exercise all or any of his or her rights to attend and to speak and 
vote at the meeting. A proxy need not be a member of the Company. A shareholder 
may appoint more than one proxy in relation to the meeting, provided that each 
proxy is appointed to exercise the rights attached to a different share or 
shares held by that shareholder. Failure to specify the number of shares each 
proxy appointment relates to or specifying a number which when taken together 
with the numbers of shares set out in the other proxy appointments is in excess 
of the number of shares held by the shareholder may result in the proxy 
appointment being invalid. A proxy may be appointed only in accordance with the 
procedures set out in note 3 and the notes to the proxy form. The appointment 
of a proxy will not preclude a shareholder from attending and voting in person 
at the meeting. 
 
3.       A form of proxy is enclosed. When appointing more than one proxy, 
complete a separate proxy form in relation to each appointment. Additional 
proxy forms may be obtained by contacting the Company's registrar Capita Asset 
Services, Proxies, The Registry, 34 Beckenham Road, Kent BR3 4TU or the proxy 
form may be photocopied. State clearly on each proxy form the number of shares 
in relation to which the proxy is appointed. To be valid, a proxy form must be 
received by post or (during normal business hours only) by hand at the offices 
of the Company's registrar, Capita Asset Services, Proxies, The Registry, 34 
Beckenham Road, Kent BR3 4TU, no later than 11.00 a.m. on 26 September 2016 
(or, if the meeting is adjourned, no later than 48 hours (excluding any part of 
a day that is not a working day) before the time of any adjourned meeting). 
 
Corporate representatives 
 
4.       A shareholder which is a corporation may authorise one or more persons 
to act as its representative(s) at the meeting. Each such representative may 
exercise (on behalf of the corporation) the same powers as the corporation 
could exercise if it were an individual shareholder, provided that (where there 
is more than one representative and the vote is otherwise than on a show of 
hands) they do not do so in relation to the same shares. 
 
Total voting rights 
 
5.       As at 13 July 2016 (being the last practicable date before the 
publication of this notice), the issued share capital consists of 160,608,051 
ordinary shares of GBP0.01 each, carrying one vote each and 21,529,451 Deferred A 
Shares and 116,241,384 Deferred B Shares which do not carry any rights to vote. 
Therefore, the total voting rights as at 13 July 2016 are 160,608,051. 
 
Nominated Persons 
 
6.       Where a copy of this notice is being received by a person who has been 
nominated to enjoy information rights under section 146 of the Companies Act 
2006 ("Act") ("Nominated Person"): 
 
(a) the Nominated Person may have a right under an agreement between him/her 
and the shareholder by whom he/she was nominated, to be appointed, or to have 
someone else appointed, as a proxy for the meeting; or 
 
(b) if the Nominated Person has no such right or does not wish to exercise such 
right, he/she may have a right under such an agreement to give instructions to 
the shareholder as to the exercise of voting rights. The statement of the 
rights of shareholders in relation to the appointment of proxies in note 2 does 
not apply to a Nominated Person. The rights described in such notes can only be 
exercised by shareholders of the Company. 
 
Shareholders' right to require circulation of resolutions to be proposed at the 
meeting 
 
7.       A shareholder or shareholders meeting the qualification criteria set 
out in note 10 below may require the Company to give shareholders notice of a 
resolution which may properly be proposed and is intended to be proposed at the 
meeting in accordance with section 338 of the Act. A resolution may properly be 
proposed unless (i) it would, if passed, be ineffective (whether by reason of 
inconsistency with any enactment or the Company's constitution or otherwise), 
(ii) it is defamatory of any person, or (iii) it is frivolous or vexatious. The 
business which may be dealt with at the meeting includes a resolution 
circulated pursuant to this right. Any such request must (i) identify the 
resolution of which notice is to be given, by either setting out the resolution 
in full or, if supporting a resolution requested by another shareholder, 
clearly identifying the resolution which is being supported (ii) comply with 
the requirements set out in note 11 below, and (iii) be received by the Company 
no later than six weeks before the meeting. 
 
Shareholders' right to have a matter of business dealt with at the meeting 
 
8.       A shareholder or shareholders meeting the qualification criteria set 
out in note 10 below may require the Company to include in the business to be 
dealt with at the meeting any matter (other than a proposed resolution) which 
may properly be included in the business in accordance with section 338A of the 
Act. A matter may properly be included unless (i) it is defamatory of any 
person, or (ii) it is frivolous or vexatious. Any such request must (i) 
identify the matter to be included in the business, by either setting out the 
matter in full or, if supporting a matter requested by another shareholder, 
clearly identifying the matter which is being supported (ii) set out the 
grounds for the request (iii) comply with the requirements set out in note 11 
below and (iv) be received by the Company no later than six weeks before the 
meeting. 
 
Website publication of audit concerns 
 
9.       A shareholder or shareholders who meet the qualification criteria set 
out in note 10 below may require the Company to publish on its website a 
statement setting out any matter that such shareholders propose to raise at the 
meeting relating to either the audit of the Company's accounts (including the 
auditors' report and the conduct of the audit) that are to be laid before the 
meeting or any circumstances connected with an auditor of the Company ceasing 
to hold office since the last annual general meeting of the Company in 
accordance with section 527 of the Act. Any such request must (i) identify the 
statement to which it relates, by either setting out the 
 
statement in full or, if supporting a statement requested by another 
shareholder, clearly identify the statement which is being supported (ii) 
comply with the requirements set out in note 11 below and (iii) be received by 
the Company at least one week before the meeting. Where the Company is required 
to publish such a statement on its website (i) it may not require the 
shareholders making the request to pay any expenses incurred by the Company in 
complying with the request (ii) it must forward the statement to the Company's 
auditors no later than the time when it makes the statement available on the 
website and (iii) the statement may be dealt with as part of the business of 
the meeting. 
 
Notes 7, 8 and 9 above: qualification criteria and methods of making requests 
 
10.     In order to require the Company (i) to circulate a resolution to be 
proposed at the meeting as set out in note 7, (ii) to include a matter in the 
business to be dealt with at the meeting as set out in note 8, or (iii) to 
publish audit concerns as set out in note 9, the relevant request must be made 
by (i) a shareholder or shareholders having a right to vote at the meeting and 
holding at least five per cent of the total voting rights of the Company or 
(ii) at least 100 shareholders having a right to vote at the meeting and 
holding, on average, at least GBP100 of paid up share capital. For information on 
voting rights, including the total voting rights of the Company, see note 5 
above and the website referred to in note 15 below. 
 
11.     Any request by a shareholder or shareholders to require the Company (i) 
to circulate a resolution to be proposed at the meeting as set out in note 7 
(ii) to include a matter in the business to be dealt with at the meeting as set 
out in note 8 or (iii) to publish audit concerns as set out in note 9 may be 
made either (a) in hard copy, by sending it to Anglesey Mining plc, Tower 
Bridge, St Katharine's Way, London E1W 1DD (marked for the attention of the 
Company Secretary); or (b) in electronic form, by sending an email to 
danesh@angleseymining.co.uk; and must state the full name(s) and address(es) of 
the shareholder(s) and (where the request is made in hard copy form) must be 
signed by the shareholder(s). 
 
Questions at the meeting 
 
12.     Shareholders have the right to ask questions at the meeting relating to 
the business being dealt with at the meeting in accordance with section 319A of 
the Act. The Company must answer any such question unless: (a) to do so would 
interfere unduly with the preparation for the meeting or would involve the 
disclosure of confidential information; (b) the answer has already been given 
on a website in the form of an answer to a question; or (c) it is undesirable 
in the interests of the Company or the good order of the meeting that the 
question be answered. 
 
Documents available for inspection 
 
13.     The following documents will be available for inspection during normal 
business hours at the registered office of the Company from the date of this 
notice until the time of the meeting. They will also be available for 
inspection at the place of the meeting from at least 15 minutes before the 
meeting until it ends: (a) copies of the service contracts of the executive 
directors, (b) copies of the letters of appointment of the non-executive 
directors and (c) the Articles of Association of the Company. 
 
Biographical details of directors 
 
14.     Biographical details of all those directors who are offering themselves 
for reappointment at the meeting are set out in the annual report and accounts. 
 
Website providing information about the meeting 
 
15.     The information required by section 311A of the Act to be published in 
advance of the meeting, which includes the matters set out in this notice and 
information relating to the voting rights of shareholders, is available at 
http://www.angleseymining.co.uk/. 
 
Directors 
 
             Irish, aged 65, chairman, is a mining executive with more than 40 
John F.      years' experience in the mining industry and is chairman and CEO 
Kearney      of Labrador Iron Mines Holdings Limited. He is also chairman of 
             Canadian Zinc Corporation, Minco plc, Xtierra plc and Conquest 
             Resources Limited. He is a director of Avnel Gold Mining Limited 
             and the Mining Association of Canada and has degrees in law and 
             economics from University College Dublin and an MBA from Trinity 
             College Dublin. He is a member of the nomination committee and is 
             resident in Canada. 
 
Bill         aged 69, chief executive, is a mining engineering graduate from 
Hooley       the Royal School of Mines and has extensive experience in many 
             countries including the UK and Australia. He is vice-chairman and 
             a director of Labrador Iron Mines Holdings Limited and since May 
             2014 a director of Grangesberg Iron AB and Eurmag AB. He has been 
             a director of a number of other companies involved in the minerals 
             industry. He is a Fellow of the Australasian Institute of Mining 
             and Metallurgy. 
 
Danesh       Canadian, aged 66, finance director and company secretary is a 
Varma        chartered accountant and a member of the Chartered Institute of 
             Taxation. He is a director of Labrador Iron Mines Holdings Limited 
             and since May 2014 has been a director of Grangesberg Iron AB and 
             Eurmag AB. He is also chief financial officer of Minco plc, 
             Xtierra Inc. and Conquest Resources Limited. 
 
             Australian, aged 69, non-executive director, is a chartered 
David        accountant. He has over 30 years' experience in the commercial 
Lean         aspects of the mining industry most of which was with major base 
             and precious metal mining houses. Currently he is involved in 
             trading mineral products. He is a member of the audit and 
             nomination committees. 
 
Howard       aged 72, non-executive director, a lawyer with over 40 years' 
Miller       experience in the legal and mining finance sector in Africa, 
             Canada and the UK. He has extensive experience in the financing of 
             resource companies. He is chairman of Avnel Gold Mining Limited. 
             He is a member of the remuneration, audit and nomination 
             committees and the senior independent director. 
 
Roger        aged 73, non-executive director, is a mining engineer with more 
Turner       than 50 years' experience in engineering, management and project 
             development. He is a Camborne School of Mines graduate and has an 
             MSc in economic geology. He was previously President and CEO of 
             Nelson Gold Corporation and Oxus Gold plc. He is a member of the 
             remuneration committee. 
 
 
 
 
 
 
Anglesey Mining plc 
 
                                                                        Parys 
Mountain 
Amlwch, Anglesey, LL68 9RE 
 
                                                                        Phone 
01407 831275 
mail@angleseymining.co.uk 
 
London office                                                  Painters' Hall 
9 Little Trinity Lane, London, EC4V 2AD 
Phone 020 7653 9881 
 
Registrars                                                        Capita Asset 
Services 
The Registry, 34 Beckenham Road, 
Beckenham, Kent BR3 4TU 
Phone 0871 664 0300 
 
                                                                        Calls 
cost 12p per minute plus network extras 
From overseas +44 208 639 3399 
 
Registered office                                            Tower Bridge 
House, 
St. Katharine's Way, London, E1W 1DD 
 
Web site 
www.angleseymining.co.uk 
 
Company registered number                          1849957 
 
Shares listed                                                    The London 
Stock Exchange - LSE:AYM 
 
                       http://www.angleseymining.co.uk/ 
                       http://www.labradorironmines.ca/ 
 
 
 
END 
 

(END) Dow Jones Newswires

July 26, 2016 02:00 ET (06:00 GMT)

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