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27th April 2022
Anglesey Mining plc
(“Anglesey” or “the Company”)
Appointment of Canaccord Genuity as Joint Broker and Corporate Update
Anglesey Mining plc (AIM:AYM), the UK minerals development company, continues to advance work programmes at both its Parys Mountain Cu-Zn-Pb-Ag-Au VMS project on the Isle of Anglesey in north-west Wales and its Grängesberg iron ore project in Sweden.
Anglesey is also pleased to announce that Canaccord Genuity Limited has been appointed as Joint Broker with immediate effect.
Parys Mountain Cu-Zn-Pb-Ag-Au Project
Infill drilling programme at Parys Mountain is expected to be completed over the next week
First of the ten drill holes have been logged, sampled, cut and dispatched for assaying, with results expected towards the end of the June quarter
Acoustic televiewing of drill holes has been completed, with data to be used in defining geotechnical domain model to assist with mine optimisation studies
Metallurgical testwork is expected to commence once assay results have been received
Environmental studies that are expected to form part of the permitting process have begun, with baseline surveys commencing last week
Design work for the tailings storage facility is also expected to commence in the coming weeks
Grängesberg Iron Ore Project
The Grängesberg Pre-Feasibility Study Update is nearing completion with our consultant, Micon International, currently completing the product marketing studies and financial modelling.
Jo Battershill, Chief Executive of Anglesey Mining, commented: “We are very pleased to have Canaccord now working alongside Anglesey. Canaccord continues to demonstrate its strength in the global natural resources space, and we look forward to working with the team.”
“With the AIM admission process successfully completed, we now look forward to focusing on our key development projects. The progress at Parys Mountain since the drilling commenced in November has been very encouraging and we look forward to moving into the next stages of pre-development work. This work will include optimising mine designs, confirmatory metallurgical and pre-concentration testwork, tailings storage facility design work and environmental and permitting activities.”
“We expect to receive the Grängesberg PFS Update over the next few weeks. Once received, we will be well positioned to design and plan the next stages of work programmes for the project. The combination of elevated iron ore prices and supply shocks from the tragedy unfolding in Ukraine, has provided a very strong backdrop and strategic positioning for the Grängesberg Project.”
About Anglesey Mining plc
Anglesey Mining is traded on the AIM market of the London Stock Exchange and currently has 248,070,732 ordinary shares on issue.
Anglesey is developing its 100% owned Parys Mountain Cu-Zn-Pb-Ag-Au deposit in North Wales, UK with a 2020 reported resource of 5.2 million tonnes at 4.3% combined base metals in the Indicated category and 11.7 million tonnes at 2.8% combined base metals in the Inferred category.
Anglesey holds an almost 20% interest in the Grangesberg Iron project in Sweden, together with management rights and a right of first refusal to increase its interest to 70%. Anglesey also holds 12% of Labrador Iron Mines Holdings Limited, which through its 52% owned subsidiaries, is engaged in the exploration and development of direct shipping iron ore deposits in Labrador and Quebec.
For further information, please contact:
Anglesey Mining plc
John Kearney, Chairman – Tel: +1 416 362 6686
Jo Battershill, Chief Executive – Tel: +44 (0)7540 366000
Nominated Adviser & Joint Company Broker
John Frain – Tel: +353 1 679 6363
Canaccord Genuity Limited
Joint Company Broker
James Asensio / Harry Rees – Tel: +44 (0) 20 7523 8000
Scout Advisory Limited
Investor Relations Consultant
Sean Wade – Tel: +44 (0) 7464 609025