29th April 2019
LSE: AYM
Placing of New Shares for £0.2
million
Anglesey Mining plc is pleased to announce that it has today
entered into a placing agreement to issue 9,367,681 new ordinary
shares, representing approximately 5.3% of the company’s current
issued share capital, at 2.135 pence
per share in a placement to institutions, to raise a total of
£200,000 gross and £180,000 net. The placing price represents a
discount of approximately 9.1 per cent. to the closing middle
market price of 2.35 pence per
ordinary share at the close of business on 26 April 2019.
The proceeds of issue will be used for project development of
its 100% owned Parys Mountain zinc-copper-lead deposit in
North Wales, UK and for general
working capital.
The Parys Mountain property is a significant zinc, copper and
lead deposit with small amounts of silver and gold, with a reported
a resource of 2.1 million tonnes at 6.9% combined base metals in
the indicated category and 4.1 million tonnes at 5.0% combined base
metals in the inferred category. An Optimisation Study on the Parys
Mountain Project is currently being prepared by QME Mine
Engineering Services and this is expected to be completed by the
middle of the current year.
The directors have authorised the proposed issue of the new
shares under the dispensation approved at the last AGM on 20th
September 2018. The new ordinary shares of 1 pence each to be issued in respect of this
transaction will rank pari passu with the existing ordinary shares
of the company. The transaction is conditional on the admission of
the new ordinary shares to the Official List and to trading on the
London Stock Exchange’s main market.
Application will be made for these shares to be admitted to both
the Official List and to trading on the London Stock Exchange’s
main market for listed securities and it is expected that such
admission will become effective and dealings will commence on or
after 14th May 2019.
Following the allotment of these new ordinary shares becoming
unconditional, the issued ordinary share capital of the company
will be 186,975,732 ordinary shares of 1
pence each with voting rights; there are no shares held in
treasury. This figure may be used by shareholders as the
denominator for the calculations which will determine whether they
are required to notify their interest in the company, or any change
to that interest, under the Financial Conduct Authority’s
Disclosure and Transparency Rules.
Bill Hooley, CEO, stated “We are
very pleased to announce this financing, which represents
significant support for Anglesey Mining, and we look forward to
completion of the optimisation study and to expedite development of
the Parys Mountain project.”
About Anglesey Mining plc
Anglesey is carrying out development and exploration work at its
100% owned Parys Mountain zinc-copper-lead deposit in North Wales, UK with a reported resource of
2.1 million tonnes at 6.9% combined base metals in the indicated
category and 4.1 million tonnes at 5.0% combined base metals in the
inferred category
Anglesey holds an 8.7% interest, and management rights to the
Grangesberg Iron project in Sweden, together with a right of first refusal
to increase its interest by a further 50.1%.
Anglesey also holds 12% of Labrador Iron Mines Holdings Limited
which holds direct shipping iron ore deposits in Labrador and Quebec.
For further information, please contact:
Bill Hooley, Chief Executive +44
(0)7785-572517
Danesh Varma, Finance Director +44
(0)7740-932766
Elliot Hance, SVS Securities+44
(0)203-7000078