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Anglesey Mining - Mining company with operations in north Wales, Sweden & Canada - On Thursday, posts widened loss in financial year ended March 31. Annual pretax loss widens to £693,242 from £328,518 a year prior. Makes no revenue, as year before. Expenses multiply to £528,045 from £162,824.
‘While the problems associated with the Covid-19 pandemic reduced significantly, they were replaced with new challenges created by the Ukraine conflict and the subsequent impacts on global security, rampant inflation from energy scarcity and fears of global food shortages,’ London-based firm explains.
Meanwhile, touts a ‘significant’ copper-zinc-lead mine can be developed at Parys mountain in Wales ‘with very positive financial results’, citing a preliminary economic assessment from 2021. Further, says a pre-feasibility study at Grangesberg in Sweden provides recommendations for a feasibility study. In Canada, citing its Houston project, Anglesey says: ‘Labrador iron mines continued to advance its Houston direct shipping iron ore project toward production...the preliminary economic assessment estimates the Houston project will generate an undiscounted net cash flow of C$234 million’.
Current stock price: 2.80 pence
12-month change: down 31%
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