Worth a look.
Fantastic prospects in Greenland. This miner is about to turn from an explorer to a producer with the first gold pour due this month.
Retreating glacier exposing more mineralogy. Zinc mine waiting to come onstream. Price of Zinc breaking records. Funding secured. Sitting on Rare Earths. China hogging the world supplies of RE metals.
DYOR
Not worried

not many interested on the stock, but is on the move up today with volume
The curve on the chart looks very good

If it follows the curve then 9p is the next target sort term. Indicators all positive, with MACD moving over the 0 Divergence

reason for tomorrow to go better
Large volume & rising last Friday after retracement to 7p lasting a month. Indicators positive since specialy the MACD that went over the o line Divergence. The company that will use the cash flows from Nalunaq to fund the development of its Black Angel zinc and lead mine. Edison upgraded to a value of 13.2p

I selected the shares at the "UPS" thread yesterday..........

ANGM 7.675 ( 7.50 / 7.75p )
Reason : Large volume last Friday and rising from the retracement to 7p lasting a month. Indicators positive since specialy the MACD that went over the o line Divergence. Is a producing gold company that will use the cash flows from Nalunaq to fund the development of its Black Angel zinc and lead mine. Edison upgraded to a value of 13.2p

Intraday

3 month Candlestick with 50 days Moving Average

2 days - 15 min

3 month

Only wish I understood the last 2 posts or the charts supplied.DMRFM

.

That's some financial update there, caught the mm's half asleep except for Wins
putting it in auction all the time to stop punters buying online which was a shame.

Can buy 500k online at mid price, seems to be sellers in everything at the moment
no matter how good they look.

.

I'll be watching closely tomorrow mnamreh, despite the delayed buys it looked
weak online, they seem to be offering a lot of stock but that dont mean people
will not see the news after the close and buy in tomorrow morning.

.

Just shows you how dangerous it is to chase, i thought best to leave it
and instead of paying 5.75p i get some stock under 4.75p, quite surprising
given the bullish nature of the sector that this has fallen so much after
last weeks news.

.

4.25-4.75p yet i'm offered online size at 4.3p which of course it almost
the bid price.

Why is somebody so desperate to get out of these that the mm can offer
stock so cheaply ?

.

.

Yep those bargain prices now gone, back to 4.42p to buy, still low.

Despite MRSI's buy recommendation in April, from where the SP halved, I took a punt recently and am rather hopeful of a reasonable return. Indications that the overhang cleared today, but I guess there may be a few more to go yet.

.

What the hell is going on with these shares- having been tracking for 12 months - still no idea what to do!!

Worth a look TODAY

They are on the way up some buying at 4.50p earlier

.

Angel Mining* Finance in place to fund the construction and commission of the cable car at Black Angel: Strong Buy at 3.375p with a 6p target price

Key Data
EPIC
ANGM
Share Price
3.375p
Spread
3.25p 3.5p
Total no of Shares
664.553 million
Market Cap
21.75 million
12 Month Range
3.375p - 7.8755p
Market
AIM
Website
www.angelmining.com
Sector
Mining
Contact
Nicholas Hall 07931 709053




Angel Mining, the Greenland-focused mining company updated the market on its finances on 27th April. At the beginning of April, the company announced that it has requested a drawdown of $8 million of its medium term note programme with its backer Socius CG II Ltd. This money will be used not just to fund the construction and commissioning of the cable car at Black Angel but also to meet operating costs incurred ahead of cash generation beginning at the Nalunaq gold mine and repay the FBC Holdings Sarl short term loan and accrued interest. To date, Angel has received $5 million of these funds with the remainder expected shortly. In exchange for Socius allowing early access to a majority of the funds and for also waiving certain conditions of the deal, the company will pay Socius a fee of $342,857 which will come from the second tranche of the drawdown. Nick Hall, CEO, was quick to point out that these funds will accelerate some work taking place at the Black Angel Mine.
Earlier on in the month, Angel was able to reassure investors about the progress at the Nalunaq gold plant which is now largely commissioned and operational. On site there is processed gold ready to be poured and then shipped off to the refinery. Management and staffing levels at Nalunaq have now been beefed up to allow for full production. While at the Black Angel lead, zinc and silver mine, rehabilitation has started which includes the erection of a new cable car. There is a full plan in place for Black Angel involved both bringing this mine back into production but also a new exploration plan for the Black Angel licences which is in process.

In Greenland, Angel Mining is the only mining company operating until recently and so has been well placed to pick up other projects in a country that has substantial potential for a variety of minerals. Sensibly, the company has chosen high grade opportunities and is now commencing production at its Nalunaq gold mine which should soon be producing at an annual rate of 25,000 ounces. Gold revenues could top $37 million on an annualised basis which could catapult Angel into profitability . This is likely to be followed by the development of the Black Angel lead zinc mine where production could come on stream as early as 2012; ahead of that time the Feasibility Study is being refreshed which should allow an up-to-date valuation to be placed on this project which could led to a further re-rating of the shares.

In total, more than $100 million was spent developing Nalunaq, before Angel bought the mine for $1.5 million. Crew Gold Corporation (Crew) had developed this mine with a targeted cut-off grade of 20g/t, in the end it achieved an average of 14.5g/t but that proved insufficient to make its operation profitable and so the mine was closed. Crew's operation had been quite costly as there was no mill on the site and all the broken ore was shipped to Newfoundland and mine was staffed by contract miners flown in from Canada. Before commencing negotiations to acquire the mine, the Directors were able to gain a blessing for their innovative scheme of siting a mill and depositing the tailings safely underground in the old mine workings. The mine and plant have now been designed to ensure that cyanide will not enter the environment and that any trace of cyanide in the tailings can easily be monitored.

The entrance to the Black Angel mine is 600 metres up a sheer cliff face which will be accessed by a cable car across a 1.7km wide fjord. The ore body is a high grade, high quality (minimal containments) zinc and lead mine. The mine was operated by Cominco between 1973 and 1990 who extracted approximately 12 million tonnes of ore at an average grade of 12% zinc and 4% lead. When the mine closed 2.1 million tonnes of resources at similar grade left in the pillars. Since then the company has discovered a further 2.4 million tonnes of resource which has improved the fundamentals still further. The capital expenditure to get the mine back into production has been put at $100 million. The board is investigating a phased project in order to reduce the initial capex with production possibly set to commence in 2012.

Phase One of the company's mining plan at Black Angel is to extract the old pillars from the mine which is planned to take between 4 and five years. In the summer, the Directors suggested that cash cost of production at the Black Angel mine to be less than $1,000 per tonne of lead and zinc. The cash cost per tonne is most sensitive to the cost of energy, which, in this case is diesel. Exploration on the remainder of the company's 259 square kilometres licence area has shown that there are further zinc/lead deposits which s but further exploration is required to determine the full potential of the area.

Angel is the old Angus & Ross which under a new management has been successfully reinvigorated and turned from an explorer into, what bears all the hallmarks of becoming, a successful mining company. A number of specialised institutional investors have sought out Angel Mining as they are sufficiently attracted by the company's future potential cashflow to advance serious sums of finance that have helped put Nalunaq into production and could probably allow the Black Angel mine to come on stream in the phased programme that the management is working on.

There have been a series of delays in bringing the Black Angel mine into production which might have tested the resolve of all but the most patient investor. Delays have also been experienced bringing the Nalunaq gold mine on stream, but now that has been achieved and gold is about to be poured the board ought be given the credit it deserves for turning Angus & Ross from a rag bag of unrelated assets into what looks like becoming a steadily profitable gold miner which has an opportunity to follow that with the opening of a high grade zinc and lead operation. A lot of the value that is being unlocked at Angel Mining does not seem to be fully reflected in the share price at present. At 3.375p our stance is strong buy with a 6p price target.

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angelmining.com
Angel Mining grew out of the exploration company Angus and Ross and is now a mining operation focused on Greenland. The company mines precious and semi-precious metals such as gold, silver, zinc and lead.
.Full Angel Mining profile here
Angel Mining raises 2.1 mln to boost Greenland mine development projects
8:53 am by Jamie Ashcroft
The funds have been earmarked for further development work at its two mine development projects in Greenland.

Angel Mining (LON:ANGM) has raised 2.1 million through an institutional share placing.

In total, Angel is issuing 109 million new shares at 2 pence each. The funds have been earmarked for further development work at its two mine development projects in Greenland.

At the Black Angel zinc and lead mine the money will help it build infrastructure, a cable car is currently being installed to connect the mine entrance to the mine camp. At the Nalunaq gold mine, which poured first gold two weeks ago, the cash money will help Angel expand production towards its targeted 24,000 ounce annual run-rate by the second half of 2011.

"Cash generation from gold sales will grow quickly but this additional capital is required to build up production at Nalunaq and to finance the continued development of the high grade Black Angel lead-zinc mine, which is expected to commence production in early 2013."

We anticipate that we will shortly be generating cash from Nalunaq and that will be an important source of finance for the development of Black Angel."

Last month Angel Mining revealed that gold production had begun at Nalunaq, although there were still some parts of the plant where further improvements could be made.

"The plant is designed to process 200 tonnes of ore per day and, subject to grade, it is expected to build up production to approximately 2,000 ounces of gold per month," said the company.

2.125p ( 2.10 / 2.15p )

Large volume today as is moving from the lows after forming a flat bottom on the chart

.

spread 2.25 / 2.35p +0.175p

Looks like the MMs decided to let it go better, good volume 13.7M so far

.

good time to buy ???

Yep, sure is. bought some today @2.09p...onwards and upwards

1.35p to buy, now this is really a bargain.Some resistance at 1.6p and 2p as overhang shares are cleared but the upside is massive.ANGM also need verification that December debt to Socius is to be rolled over and gold production from Nalunaq has increased to target area.

Rescheduling Loan-terms has boosted sp - but the figures tell a different story, IMHO.
The loan is $24m and interest is 6m, that represents a heck of an interest-rate - extending the Term just means they will owe even more - but what's surprising is the lender didn't insist on more favourable terms and a repayment as soon a Gold is recovered - they'd have "first-call" as it were.

SP rose to 1.62 - DYOR.
Still, what do I know?

EDIT (8March2012)-20% fall on News that a pump failed gold processor - pretty expensive pump, eh? Don't they think about spares? Why does it take from mid-Feb to 8March for this to be reported to the Market? Regulator pse investigate!...
EDIT (12March2012)
- Skyhigh, sadly I think your 2.2p was a little premature.
- Halifax, I don't understand yr EMED comment in Post #35.
EDIT(14May2012):- Down to 1.25 today...not a pretty sight.....Arrgh!

Having sold my first purchase a few months ago at a bit of a loss I decided to buy back in again this morning first thing at 2.2p..nice bit of timing for a change! as now showing a nice little profit already with lots more to come! (imho)

does it actually mean EMED hasn't the cash resources to repay the loan?

It's looking good!

FT article:

Angel Mining bounces after strong mine result
By David Keohane
Greenland-focused mining and exploration company Angel Mining bounced 15.8 per cent on Wednesday to 2.9p on news that its gold-producing Nalunaq mine had recorded its best daily production to date.
The company’s statement hailed its largest gold pour, of some 517.8 ounces, as “another significant milestone as production continues to rise towards the target of between 1,500 and 2,000 ounces per month, which it hopes to achieve in early this year”.

SP just resting... for the next leg up?...looking good!

1.2p A very good entry point next gold pour to be largest yet...... 2 weeks away

I'll wait til it gets to sub 1p...then I might top up

Sh

Yes in this current market you just might get it ....

Take a listen to this audio interview with Nick Hall.

http://www.brrmedia.co.uk/event/98300/nicholas-hall-chief-executive-officer

Question: When do these "gold pours" rersult in shareholders getting a Yield?

As I see it, the negative PE Ratio says "Loss" . . . . anyone?
EDIT I read (RNS 29 June DYOR), they are not opening another prospect, which is not good news - these were all go-ers wern't they?
EDIT(11Oct2012)-Missed the AGM - looks like prob is fixed and awaiting parts - anyone go?
EDIT(4Jan2013)- SP is 0.7p - oooer! The late-2012 share-shuffle with "yorkville" (DYOR) is reminiscent of another tiddler . . . . Watch-it!
- That tiddler was Cambridge Minerals - went belly-up after some loan repayment issue - JUST (wash my mouth) like this one -See RNS Adminitrators Jan 20113.
halifax, . . . it sure hurts . . .

RNS is this the end?