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Anglesey Mining PLC - mining company with operations in Wales, Sweden and Canada - Enters binding letter of intent with Energold Minerals, its largest shareholder and largest creditor, and says the deal will ‘allow for a comprehensive restructuring and improvement of the balance sheet’. The deal enables Anglesey to eliminate £4 million of debt in exchange for its stake in Grangesberg Iron and Labrador Iron Mines holding, reducing its outstanding debt to approximately £100,000. Company also says that Energold has agreed to invest £350,000 in Anglesey through the purchase of non-voting exchangeable warrants. Energold President Brendan Cahill, ‘an experienced executive in the mining sector’, and former VVV Resources Ltd executive chair Jim Williams, will both join Anglesey’s board upon the closure of the warrant offering. Anglesey Chair Andrew King comments: ‘We are pleased to announce this series of measures today that we believe place Anglesey on a much firmer financial footing from which to progress our 100% owned Parys Mountain and deliver long-term value for our shareholders. Our confidence in the future of Anglesey is shared by our largest shareholder, Energold, and we appreciate the support they have provided to the company as a strategic investor and now through this debt settlement agreement and their new investment through the warrant offering...We look forward to working with [Cahill and Williams] and leveraging their extensive experience and knowledge of the mining sector.’ Current stock price: 0.79 pence, more than doubled on Friday in London 12-month change: down 17% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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