...have a mine with planning permission in Anglesey. They have been drilling this year after raising funds.

Things are starting to look encouraging after a long time in the doledrums.

LONDON (AFX) - Anglesey Mining PLC said drilling results from Parys Mountain
in North Wales are "highly encouraging", including an intersection grading 40
pct combined base metals and 886 grams per tonne of silver over 2.5 metres.
The company said the high grade intersections recorded in both zones in AMC
15 contain metal grades which are amongst the highest recorded at Parys
Mountain. Previous drilling had encountered quite a number of intersections with
a total metal content over 30 pct.
Chairman John Kearney said: "We have been waiting for results like this for
some years."
He said the high grade of the mineralisation, particularly of zinc and
copper, demonstrates the potential of the Parys Mountain property, confirms the
validity of the group's geological model and justifies its confidence in this
drilling programme.

http://www.advfn.com/p.php?pid=nmona&article=12387465

LIM market cap now 106million (CAD). 20p will be here soon. IMHO

LIM market cap now 165mil (CAD) worth31p to AYM. 25p soon then on an upwards.

DYOR

This really is performing and is isable as well....remarkable increase in the sp and probably much more to come !.

indeed AYM's 50.1% of LIM is currently worth 0.36p.

Thanks to laserdisc.

GUIDE TABLE TO 50.1% LIM STAKE at exch rate 1.67 canadian
to
$2.00 0.145
$3.00 0.217
$4.00 0.290
$5.00 0.362
$6.00 0.434
$7.00 0.507
this is lim exchange only totally disregarding other assets of aym which in last accounts have a book value of app 13.5m

Also, with the recovery in the price of zinc : there could be a strong possibility of The Angelsey mine starting up again....

And theres more...

DJ Labrador Iron Mines Target Raised To C$8.70 From C$3.75 By Canaccord

Decent move so far today.Lets see how many sellers they can suck out.

From t1ps (Thanks Ruudboy99)

"I have been requested to comment on Anglesey Mining (AYM) as a result of its share price having risen from an 11.75p t1p price at the end of October to currently sit at 29p; a gain of more than 146% in less than 3 months. I always endeavour to alert readers where a significant share price movement results in a change of stance since as Benjamin Graham reminds basically, price fluctuations have only one significant meaning for the true investor. They provide him with an opportunity to buy wisely when prices fall sharply and to sell wisely when they advance a great deal. At other times he will do better if he forgets about the stock market and pays attention to his dividend returns and to the operating results of his companies.
Although shares in Anglesey have advanced strongly a focus on the fundamentals suggests to me the current share price does not represent a wise selling level and although I dont typically comment on companies when the stance is unchanged and there is no news to update on, there are perhaps a couple of points of some value worth noting in respect of Anglesey Mining;
As per the t1p, Angleseys main asset remains its 18.6 million shares in (50% of) Canada-listed Labrador Iron Mines Holdings. Labrador shares have spiked from CAN$1.89 at the time of the t1p to a current C$6.88 which values Angleseys holding at C$127.97 million or 49p per each of Angleseys 152,858,051 shares in issue (at the current C$1:0.589 exchange rate). Anglesey also had 15.1 million share options outstanding at 31st March 2009 at an average exercise price of 9.75p. Subsequently 300,000 have been exercised but even diluting for the rest and taking no account of the cash that would be received gives 45p per Anglesey share.
Despite Labradors share price performance its shares still look to have further to run. Using an iron ore price of $62/t per 65%Fe for fines, with a 12% premium for lump, a Net Present Value, using a 10% discount rate, of C$449 million can be derived for Labrador. This equates to C$12.09 per share and 79p per diluted Anglesey share. Although there are downside risks various regulatory permits are still required before the targeted commencement of production for example there is also potential upside (e.g. economic recovery helping sale price achieved higher, potential of the mineral claims Labrador announced it had acquired last month). It should additionally be noted that the Schefferville area from which Labrador is looking to produce has a prolific mining history and that Canada can safely be considered mining-friendly which should reassure in terms of permitting.
Researcher Edison forecasts that Labrador will report earnings of C$44 million for the year ending 31st March 2012, meaning that on an earnings multiple the rating just a couple of years out is potentially low too and all of this is without even considering Angleseys own Parys Mountain base metals project in Wales. This is currently on care and maintenance but was the subject of an eventually aborted 13.75 million bid approach in 2008 and the company reported as recently as November that the project has been the subject of renewed interest from a number of companies which are being followed and encouraged. Overall, there thus looks to be some quite significant further upside potential remaining and thus, at 29p, my stance on Anglesey Mining remains strong hold. "

AYM up this am on the back of a 8.8% rise in LIM the parent company,ptobably due to the increase in iron ore and the new pricing structure? The Labador mine is dur to start 1st production in the summer,which should see a dramtic increase in the SP?
cyril

More news today. Like the last para.

Anglesey Mining over allotment option closes

Raises 2.7 million cash

Anglesey Mining plc ('Anglesey') is pleased to announce that the underwriters
for the recently completed public offering of C$35 million (22 million) by its
associate Labrador Iron Mines Holdings Limited ('LIM') in Toronto, have
exercised their over-allotment option to purchase 810,900 LIM common shares from
Anglesey at a price of C$5.55 per share for gross proceeds of C$4.5 million -
equivalent to 2.9 million.

Following this option exercise Anglesey now holds 17,789,100 shares of LIM which
represent 41% of LIM's 43,369,951 currently issued and outstanding shares.

The estimated net proceeds from this sale of 2.7 million after expenses will be
received entirely by Anglesey and will be used for general corporate costs and
working capital purposes.

Chief Executive Bill Hooley commented "We are very pleased that the underwriters
have exercised their option and this transaction has been completed. Anglesey
now has sufficient funds for its immediate requirements and is looking at using
the opportunity to demonstrate shareholder value at Parys Mountain, and to
investigate and progress new activities. There are a number of possible projects
that have been under active review recently and we are pleased to have the
funding to properly evaluate and progress these projects where appropriate."

what a resource upgrade!

Shares rocketing.

Times reporting on yesterdays news,

Tiddler to watch

Anglesey Mining, which invests in mineral resources, advanced 1p to 36p after a Canadian miner in which it holds a 41 per cent stake revealed that an iron deposit that it owns contains much more ore than previously thought. The Labrador mine in Quebec is scheduled to start producing an estimated 50,000 tonnes of iron a year in the summer."
cyeil

Brokers analysis rating of Labrador Minibg is up from C$7.5 to C$13,at present C$7. Mining to start in the next couple of months with 1st shipping
forecast for August.

Production Targets for 2011/2012 look awesome
cyril

Anglesey Mining - SPECULATIVE BUY

12/04/2010 Robert Tyerman @ Growth Company Investor

Anglesey Mining expects 41%-owned Labrador Iron Mines (LIM) to boost annual production from an initial 650,000 tonnes to 2m tonnes next year. Fully-listed Anglesey, which has put its longstanding Parys Mountain poly-metallic project in North Wales on the back burner, stands to receive nearly 3m from Toronto-quoted LIMs recent 22.2m placing in Canada, which cut its stake from 50%. Entrepreneur John Kearney and chief executive Bill Hooley head both Anglesey and LIM, which they hope will boost annual production from its high-grade Houston deposit near the town of Schefferville to 3m tonnes in 2012 at a cost of little more than $48 a tonne, less than half the prices struck in recent contracts. Hooley maintains Angleseys proceeds from the LIM placing virtually cover the companys commitments to LIMs planned further exploration and insists Anglesey has no more money to raise. The other day, LIM increased its measured and indicated resource estimate 60% to almost 14.7m tonnes at a grade of 59.3% iron ore and Anglesey says that brings its own share, as measured in compliance with industry standards, to 25m tonnes plus an historical resource of 125m tonnes. Anglesey is seeking a joint venture partner to take Parys Mountain forward. Hooley says it will use cash raised through LIMs fundraising to explore zinc and other deposits around the world, though Africa and the former Soviet Union are not destinations of choice. Shares in Anglesey were market dogs for years on disappointment and impatience over Parys Mountain, but have perked up of late from a 12-month low of 4.13p to 37.5p. With iron ore prices surging, bulls argue that represents a 35% discount to its LIM stake alone. Investors comfortable with commodity risk should consider a punt.

http://www.growthcompany.co.uk/recommendations/1247563/anglesey-mining.thtml

Penny Sleuth have just sent this out on e-mail - might bring in a bit of interest.

Of course the resource play that RHPS is recommending is AFAICS a completely speculative punt with bugger-all backstop if things don't go perfectly to plan (BPC) and is a share he's been pushing for months now. Anyway...I'll stick with AYM thanks!

"Why junior miners can hardly believe their luck

22nd April 2010
Why the market thinks Angleseys 7m tonne Parys deposit is worthless

Signs that Angleseys market value could double
Dear Reader,

Commodity prices are booming again and thats great news for penny shares.

As I pointed out to readers of Red Hot Penny Shares back in January, this is a key year for many natural resource hopefuls. Its a great opportunity for investors to make some hefty gains.

Mining ventures that were started four or five years ago are now coming to fruition. The money has been raised, the commodity has been found and the mine has been built. These mining minnows have the product to sell which could turn them into next years big fish.

These miners can hardly believe their luck. Even in the middle of a global economy crisis, they are able to sell their new output at prices that are comparable or in some cases even better than those prevailing before the roof fell in on markets two years ago.

Take just two examples. The price of coal is some 40% above last years level. Spot prices for iron ore, meanwhile, are twice those quoted 12 months ago...

That is superb news for a host of penny share companies. Two that spring to mind are Waless last remaining coal producer Energybuild (ticker: EBG) and Anglesey Mining (ticker: AYM).

Energybuild shares have climbed by a massive 50% since January. Over at Anglesey the story is even more impressive. Since I first mentioned this one on 6 October last year, its up a staggering 282%. In fact, chief executive Bill Hooley has seen his companys share price rise nearly ten-fold over the last 12 months!

Why the market thinks Angleseys 7m tonne Parys deposit is worthless

If ever a share has proved the extraordinary power of penny shares Anglesey is it. Key to its success has been the rising price of iron ore and its 41% stake in Canadian iron ore miner Labrador Iron.

Labrador(LIM:CN) is quoted on the Toronto Stock Exchange where at a price of $7.06 it is valued at C$306m. This gives a value of C$125m, or 80m, to Angleseys stake.

Given that this is some way above Angleseys London stock market value of 65m, this implies that its other mining interest, the Parys mountain deposit on the island of Anglesey, is worth less than nothing which I am sure it is not.

Parys is a seven million tonne resource of copper, lead and zinc first exploited by the Romans. But having seen repeated attempts to revive the mine fall flat, the City has become wary.

Anglesey is planning to bring in a partner to finance the resumption of production. But this has become a minor issue, as the stake in Labrador has become the driving force of Angleseys share price. Let me tell you a bit about this Canadian interest.

Labrador has a 150m tonne iron ore resource in Canadas premier iron ore belt, the Labrador trough to the north-east of Quebec. The company plans to start producing later this year, building up to an annual rate of six million tonnes.

This is a low-risk operation. This is partly thanks to the high quality of Labradors ore, but also because mining has been conducted here for over 50 years, so almost all the vital infrastructure has long been in place.

Because this is such a low-risk operation on the production side, the only big thing that Labrador (and by extension, Anglesey) needs to worry about is the price of iron ore. And to gauge this, we need to watch China.

Why Angleseys stock market value could be about to double

Canada s east coast is closer to Europe than the worlds biggest supplier of iron ore, Brazil. With this freight advantage, Hooley expects the majority of Labradors output to be taken to Rotterdam. But the global price is dependent upon China.

Thanks to its plan to shift tens of millions of rural dwellers into its gleaming new cities, China has an insatiable need for iron and steel. Three-quarters of sea-borne supplies end up here.

The questions now are whether China can sustain its extraordinary growth rate and how much it will be prepared to pay for supplies of iron ore.

While predicting a price of over $100 per tonne for iron ore in 2011 and 2012, analysts at Canaccord Adams warn of potential steel demand destruction as steel producers attempt to pass on substantially higher input prices during 2010.

They have assumed that the price will subside to a long-term equilibrium price of $61 per tonne by 2014.

Even on this basis, though, they have set a 12-month target price for Labrador of C$10.80, which takes the value of Angleseys stake to some 123m more than double todays stock market value.

So Bill Hooley is smiling. He is bringing new supplies of iron ore to the market just as the world is prepared to pay a handsome price. Other small miners now find themselves in a similar position. No wonder the junior mining sector is hot.

The next great penny share resource play

Anglesey is not a share Im recommending in Red Hot Penny Shares. This story has already taken off and I think there are more interesting ones with potentially bigger gains on offer.

If you own Anglesey shares and are making money, then congratulations. Youve seen the incredible power of penny share resource stocks."

.cyril

On the move again,yet so little interest in this Gem.
Iron ore prices still rising,mining licence days/weeks away and then all systems go with first shipment expected Aug/Sept?
cyril

From 4th May annouvement, 30days to completion of rail link? So within a week?

cyril

Rail news imminent and along with projected iron ore prices,looks a safe
for a syeady rise(up 9% today?)
cyril

Any news on the recent fall of AYM - Is there any trouble in Canada?