...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

Ding dong,better bring your bucket & spade.

Going well that 12.66 buy early doors yet,and just up the road to boot.

Solid as rock !!

Blue again 17/18 soon,,,dont all laugh at once.

Blue again !

This is a small company that could get much much bigger

Or taken over winpik!

On 15 March 2006 the company was informed that Golden Prospect plc has a holding
of 15,750,000 ordinary shares in Anglesey Mining plc.

This holding represents 11.5% of the 137,508,051 ordinary shares in issue.

Contact:
Ian Cuthbertson Finance director + 44 1248 361333

Have held this share for a while, the company seem to be making good progress towards renewed production at Parys Mountain and their Labrador Iron Ore project in Canada is very promising. I won't make any predictions however!

Yes or taken over. Should Parys prove to be half as good as projected, these shares are worth at lease 1. Golden Prospect are in this business and can spot a potential winner although I don't think they are an acquiror, they are merely clever investors.

This statement doesn't set my world alight, but it is 'encouraging' as they say!

LONDON (AFX) - Anglesey Mining plc said results from the three holes it drilled at Parys Mountain in Anglesey in 2005 are extremely encouraging.

A total of 1875 metres were drilled in three deep holes in the Parys Mountain property. This area has been named Garth Daniel after an old nearby shallow shaft to distinguish it from the bulk of the company's resources in the Morris Shaft area.

The company said the latest three holes indicate that three mineralised horizons exist in the Garth Daniel area.

Based on the revised interpretations and on the results from the latest three holes, coupled with the two earlier holes, the company's geologists are confident that the mineralised horizons will continue further to the north east, the company said.

This area has been virtually untested by both Anglesey Mining and previous companies who operated on the site. It said that such a continuation, if demonstrated, would provide a significant extension of the resource base and could make a major impact on the economics of mining at Parys Mountain.

Executive Director of Anglesey Mining, Bill Hooley said the results from the three 2005 holes, and particularly the geological interpretation provided from these results, is 'very exciting'.

The fact that we intersected three different mineralized zones in all three holes, 400 metres apart, and the high grade in the Engine Zone in particular is very encouraging, he added

The company intends to continue drilling in the Garth Daniel area and in the north east extension to follow up on these results with the objective of adding to the resource base in a relatively short time frame.

Drill holes for this next round of drilling are being laid out and drilling will recommence here in the next few weeks.



newsdesk@afxnews.com

This is a careful statement, it is better not to get investors over exited. I still believe there is little downside risk to this story.

Very interesting development today with the arrival of what I gather is a serious Australian mining company, with the value of this sale and the iron ore mine coming into production next year in Canada, this little main market mining stock in my way of thinking is worth somewhere between 35 to 40p.....way above current valuations and will be next year cash rich, with a decent cash flow and a good future !

There is another thing of note that in the middle of a so called (credit crunch), is that : it will be increasingly difficult for wannabe mines to raise significant cash through share placings, AYM has done well to get this Australian help in. This decisive investment by the Aussies could turn Anglesey mining in my view into a sort of Mining cash shell...what with the Labrador iron ore development on the way ;... in the future they could be on the acquisition trail for some other mine of a sort....loads to ponder on...!

It is virtually an all share deal where does the cash come from? As for Labrador reaching production this is just another example of the mining rampers " jam tomorrow tactics".

AYM can always sell their shares in the Aussie company if they want cash...or some of the payment could be cash straight up.....the bottom line is that AYM could turn into a sort of investment mining company worth a lot more than the present value....!, as for Labrador reaching production....well...that's the objective and we all know the value of iron ore at the moment don't we ?.

TIDMAYM

Anglesey Mining plc LSE:AYM

6 November 2009

Labrador Iron Mines Environmental Impact Statement Accepted for Schefferville
Area Iron Ore Project

Anglesey Mining plc is pleased to report that its 50% owned associate company
Labrador Iron Mines Holdings Limited (TSX: LIM) has advised that the
Newfoundland Minister of Environment and Conservation today announced that
review of the Environmental Impact Statement ("EIS") for LIM's proposed
Schefferville Area Iron Ore Project in Western Labrador has been completed.

The Minister has confirmed that the EIS complies with the Environmental
Protection Act and requires no further work under the Provincial environmental
assessment process. The Minister has advised LIM that she will be making a
recommendation for consideration by the Government of Newfoundland and Labrador
on release of the Project from further environmental assessment.

The EIS relates to Phase One of LIM's proposed Schefferville Area Iron Ore
Project in Western Labrador and covers the development of the James and Redmond
deposits, which are the first of eight separate deposits that LIM plans to
develop in the coming years.

"Acceptance of our EIS is a major step forward in LIM's Schefferville Area Iron
Ore Project", said John F. Kearney, Chairman, at the annual Mineral Resources
review 2009 and Provincial Mining Week in St. John's, Newfoundland, Canada. "We
are pleased that our efforts in planning the proper development of the Project,
recognizing the requirements of sound environmental management, social
responsibility, the support and aspirations of the Labrador Innu and the
policies of the Province of Newfoundland and Labrador, have been acknowledged
and accepted by this review and recommendation".

Upon Government approval and Project release LIM will progress the applications
for the permits and licenses required for the construction of the necessary
infrastructure for commencement of production planned for 2010. It is expected
that these permits and licenses will be issued during the next few months.

LIM intends to commence construction of infrastructure immediately upon project
release, including re-laying a 4 km rail spur line from the mine site to main
railroad and the construction of the major items of process plant and equipment
ahead of assembly on site in the spring of 2010.

"This successful completion of the environmental assessment process is
particularly timely given the current outlook for both iron ore prices and
demand. LIM is on track and we look forward to first production of direct
shipping iron ore in the summer of 2010, in what we hope and expect will be a
buoyant iron ore market," added John Kearney.


About Anglesey Mining
Anglesey Mining plc is a UK based company listed on the London Stock Exchange
with a 50% interest in a 90 million ton iron ore project in Labrador, Canada,
which is under active development towards mining production in 2010. The company
also holds the Parys Mountain base metals project with a historical resource of
7.7 million tonnes at 9.3% combined copper, lead and zinc in Anglesey, UK.

For further information:
Bill Hooley, Chief Executive +(44) 1492 541981
Ian Cuthbertson, Finance Director +(44) 1248 361333


<< Back

This is not one that I've looked at for a while but it's been rocketing....resource estimate has just doubled....by the look of it there is room for further rises in the sp.

Buy Anglesey Mining at 13.75p (Today's free tip - 12/11/09)

Argues Tom Winnifrith of t1ps.com

Anglesey Mining owns two company making assets
Its listed shares in one have a market value about the same as that of Anglesey!
So the other is valued at circa nil!
This is a fully listed asset backed play with
A strong management team
The shares are a buy at 13.75p with an initial target of 18p

Anglesey Mining (AYM) is a UK based company with a full London Stock Exchange Listing. This is one I have watched for a while now and it looks set for a prosperous return to form in the coming months. Its holdings in Labrador Iron Mines, the Canadian listed iron ore producer are worth little more than Anglesey's entire market cap. And Labrador shares look pretty cheap too. That leaves Anglesey's other assets - notably the Parys Mountain mine in Anglesey in for more or less nothing. I have followed this one for a while, met up with its very sensible and cautious FD earlier this week and now feel happy to suggest you buy at 13.75p a with an initial (low ball) target of 18p.

Assets

Anglesey's main asset is a 50% interest in Labrador Iron Mines Holdings - that is 18.6 million shares in the Toronto listed company. Labrador Iron Mines Holdings Limited (TSX: LIM) is focused on the development and production of eight direct-shipping iron ore deposits located across a 100km strike length in the Labrador Trough of the Province of Newfoundland and Labrador near Schefferville, Quebec. The company's properties are part of the historic Schefferville area iron ore district from which over 150 million tonnes of iron ore was mined by the Iron Ore Company of Canada from 1954 to 1982.

LIM is on track to be the first to reactivate direct-shipping iron ore production in Labrador commencing in 2010. Labrador Iron plans to mine ore from within the Schefferville Project, which is located in Northwestern Labrador. This is in the heart of the Labrador Trough, home to most of Canada's iron ore production, which supplies 9% of the total world production. The IOCC mined ore at Scherfferville for 28 years from 1954 to 1982. What is of vital importance to Labrador and Anglesey is that the IOCC outlined the resource and established the infrastructure. Those tasks in themselves would cost today around C$1 billion. The extensive infrastructure in place includes power, airport, roads, 564 kilometres of rail and a deep sea port. LIM is fully funded to bring itself into production.

Anglesey also owns 100% of the Parys Mountain zinc-copper-lead deposit in North Wales. The property is on the island of Anglesey and has been worked for copper since prehistoric times and during the 18th and 19th century it was the largest copper mine in the world. It has a resource of 7.76 million tonnes with life of the mine contributions to revenue of zinc at 30%, copper 44% and lead 18%. The project currently has planning permission, two years to production from completion of financing. The company believes there is excellent exploration potential over an area of several kilometres and work, way back in 1991 resulted in a positive independent feasibility study for a 1,000 tonne per day mine and the area enjoys strong local community and government support. With commodity prices depressed towards the end of 2008, the Parys deposit was placed on a care and maintenance basis, after nearly being sold in mid 2008 to Western Metals of Perth for just over AUS$29 million. It is not clear what the company plans to do with the deposit in the short term but with commodities coming back it has the potential for either a joint venture exercise or a sale of the asset. The project would cost $30 million to bring into production.
*The value of investments can go down as well as up. Past performance is no guarantee of future success. Investing in equities can lose you part or all of your capital. The tips given here are of necessity, general. They cannot relate to the individual circumstances of investors. Anyone considering following the recommendations contained here should seek independent advice. Investments in smaller company shares, by their nature, can be relatively illiquid and thus hard to trade. And that makes such investments more of a high risk than larger company shares.

Valuation

In 2011, as Labrador has its first full year of production, researcher Edison predicts earnings per share for Anglesey of 5.8p, rising to 7.6p the following year. However, development plans for the explorer's other projects: the North Wales-based Parys Mountain copper-lead-zinc project and its exploration property at Dolaucothi in south Wales, are still on the backburner. Options for Parys will only be considered in the event of a sustained recovery in base metal prices, however the firm has reported "some interest" in its exploration property in Dolaucothi, South Wales, in light of the strong gold price. The company has minimal cash costs, and although it has little cash it could easily raise some through the sale of some of its Labrador holdings.

As it stands Labrador shares are trading at CAN$1.89 on the TSX, valuing the company at CAN$72.06 million. At the current exchange rate of GBP1:CAN$1.76 that values Anglesey's stake in the project at GBP20 million. Edison reckons that the shares could be worth up to CS$5 which would value The Anglesey stake at GBP54 million. Put another way, if Edison is half right, Anglesey could sell two thirds of its stake and then bring Parys Mountain onstream on its own.

So what is the company worth? Base case: LIM at the current market price + Parys Mountain at 30% of the most recent takeover offer (GBP6million) plus GBP1.5 million for the quote and South Wales gold play gives a sum of the parts value of GBP27.5 million or 18p per share. But were Edison's LIM target to be valid then that valuation jumps to 39p per share. That is the upside case. For now I initiate coverage with a suggestion that you buy at 13.75p with an initial target of 18p per share.

Key Data
EPIC: AYM
Market: Full List
Spread: 13.5p - 14p (3.6%)

Thanks for that Count Brass....bought some today, a bit late but the value of the metal in the ground in a stable country (Canada)...justifies the purchase....

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