AYM Anglesey Mining Plc

 
TIDMAYM 
 
20th March 2017 
                                                                   LSE: AYM 
 
Placing of New Shares for GBP0.225 million 
 
Anglesey Mining plc is pleased to announce that it has today agreed to issue 
5,000,000 new ordinary shares, representing approximately 2.8% of the Company's 
enlarged issued share capital, at 4.5 pence per share in a placement, to raise 
a total of GBP225,000 gross and GBP213,750 net. 
 
The net proceeds of issue will be used for general working capital and for the 
continued development of the Parys Mountain poly-metallic project in North 
Wales on which an updated scoping study is being prepared by Micon 
International Limited and by Fairport Engineering Limited.  This study is 
reviewing capital and operating costs including the use of available 
second-hand plant to minimise capital expenditure wherever possible.  Recent 
increases in base metal prices over the last few months together with the lower 
level of sterling compared to the United States dollar are also expected to be 
positive for the project economics. The study is nearing completion and is 
expected that the report will be available shortly.  When the report is 
completed Anglesey will commence discussions with interested funding partners 
with a view to moving the project on to the next stage of development aimed at 
bringing the mine in to production. 
 
Bill Hooley, CEO, stated "We are very pleased to announce this financing which 
shows the continued support for Anglesey Mining and for its projects from 
sophisticated institutional investors in the resource industry.  We believe 
that such support is both positive for the development of the project and as an 
indicator that investor interest in the base metals sector has returned and 
that the outlook for the metals that will be produced from Parys Mountain is 
positive". 
 
The directors have authorised the issue of the new shares under the 
dispensation approved at the last AGM on 28th September 2016.  The new ordinary 
shares of 1 pence each to be issued in respect of this transaction will rank 
pari passu with the existing ordinary shares of the company. The transaction is 
conditional on the admission of the new ordinary shares to the Official List 
and to trading on the London Stock Exchange's main market. 
 
Application will be made for these shares to be admitted to both the Official 
List and to trading on the London Stock Exchange's main market for listed 
securities and it is expected that such admission will become effective and 
dealings will commence on or 30 March 2017. 
 
Following the allotment of these new ordinary shares becoming unconditional, 
the issued ordinary share capital of the company will be 177,608,051 ordinary 
shares of 1 pence each with voting rights; there are no shares held in 
treasury.  This figure may be used by shareholders as the denominator for the 
calculations which will determine whether they are required to notify their 
interest in the company, or any change to that interest, under the Financial 
Conduct Authority's Disclosure and Transparency Rules. 
 
About Anglesey Mining plc 
 
Anglesey is carrying out development and exploration work at its 100% owned 
Parys Mountain zinc-copper-lead deposit in North Wales, UK with a reported 
resource of 2.1 million tonnes at 6.9% combined base metals in the indicated 
category and 4.1 million tonnes at 5.0% combined base metals in the inferred 
category 
 
Anglesey holds a 6% interest and management rights to the Grangesberg Iron 
project in Sweden, together with a right of first refusal to increase its 
interest by a further 51%. 
 
Anglesey also holds 11.2% of Labrador Iron Mines Holdings Limited which has 
direct shipping iron ore deposits in Labrador and Quebec and which has recently 
completed its Plan of Arrangement.  The Plan implements a restructuring of 
LIMH's business to preserve its mining assets, continue its mine site 
activities in a care and maintenance standby mode and position it to refinance 
an orderly resumption of its iron ore mining activities when economic 
conditions warrant. 
 
For further information, please contact: 
 
Bill Hooley, Chief Executive +44 (0)1492 541 981 
 
Danesh Varma, Finance Director +44 (0)207 653 9881 
 
Eliliot Hance, Beaufort Securities +44 (0)207 382 8300 
 
 
 
END 
 

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March 20, 2017 03:00 ET (07:00 GMT)

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