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Good to see directors getting big share options again. We shareholders have to pay them handsomely regularly otherwise the company would go nowhere for decades....oh, hang on a minute. Anyway, perhaps a director could pick up a phone again and ring someone to do another survey ? LTH
Brentharg I can not come this time. I came a few years ago and met you. I was lucky enough to go down inside the mount on a plane trip it was well worth doing, I do not know if they still do it now, hope you all have a good day like we did last time,
We now have 33 attendees who have provided contact details: Brentharg, Vib6er's friends Martyn & Paul, Roddersfield+1, Chaingnam+1, Fatbod10uk, Monparys+1, Malcolm+1, Ned137+1, Angl1, ArfonMassif, Mysterybanks+1, Jonesy78, Railwayman2+1, h11toe+1, Anglesey+1, Roger B+1, BigKeys+1, James F+2, GradeController.
Another 6 people (BoomVanDerBoob, Boulevard252+1, Crapgame71+2) said they hoped to come but have not so far provided contact details.
"Southwesterner, good to see you back. Would you kindly give us your view on recent developments at AYM?"
Overall good leadership by Jo Battershill, shame about the share price drifting over the past few months, perhaps just a difficult market though, he still has everything to play for.
Making steady progress at Parys Mountain, this is really a potentially very attractive project when it is properly repackaged in a more optimised scenario, which there should be opportunities to realise this over the next 6-12 months. It will add significant value and credibility to the project to progress it through permitting and then a pre-feasibility study - but this will take time, more drilling and thus, more expenditure.
Grangesberg is a potentially interesting project, ticks a lot of boxes in terms of location and the direction of travel in iron ore sector over past few years, and particularly since Ukraine crisis. The high grade concentrate product matches well with future requirements for net zero carbon steel production in Sweden. And the PFS achieved decent financial metrics, although at an iron ore price higher than present levels. But the scale of work to move the project forwards is immense, and its a total mystery how a small team like AYM can move the project forwards and capitalise on any of this, and therefore the market ascribes zero value to this holding presently as seen by the total lack of reaction to the PFS update, despite decent numbers. Need to agree a fixed price to take ownership up to the 70% option, and then organise a spin-off with an experienced credible Board including a local management team, to get the attention the project seems to deserve, and to create any value for AYM.
Recent $4m LIM investment by Scully Royalty is encouraging, and underlines the 12% holding owned by AYM has some value, but not necessarily very much.
"Although not on the current BGS list, zinc is defined as a critical mineral in the 2022 US Geological Survey list. Whether or not the UK follows the US in designating zinc a critical mineral, the US view is clear."
Sure, but the US isn't offering subsidies for developing resources in the UK (at the moemnt) - and right now zinc isnt even on the UK "watchlist". I'm not going to go into the relative merit of the USGS vs BGS evaluation techniques for "criticality", but suffice to say the US list is much more extensive and includes all sorts of things like aluminium, barite and fluorspar - that the UK doesnt seem to have even considered.
Good point, Troajan. Although not on the current BGS list, zinc is defined as a critical mineral in the 2022 US Geological Survey list. Whether or not the UK follows the US in designating zinc a critical mineral, the US view is clear. (Copper is not on the US list but could be a candidate for the next revision).
Those shareholders who live on Anglesey might want to write to their MP Virginia Crosbie and suggest that she throw her weight behind Government support for AYM in line with this sensible new initiative. Every kilo of home-produced copper is a kilo less imported; a small step towards the nation’s security of supply.
The various preliminary assessments are all presenting improved results in terms of what is under the surface, probably due to better technology that can get the measurements. In turn, mining capability has also improved from previous times. I think all in all, we are actually looking at a more than viable mine in Sweden, a recently mothballed mine in Canada that has much of the infrastructure in place and was only closed-off based on falling market prices and then the Parys mountain that appears to be worth a few bob too. All in all, the mcap of AYM is well below where its potential would have it placed.
George, take your point and that's exactly what I'm doing, trying to establish what I'm looking at! You've reminded me of a story related by Harry Rednapp about a match between Man.U. and West Ham . Before the match Harry bet George Best that he couldn't hit the crossbar x times during the match. George spent the afternoon comfortably exceeding the challenge rather than scoring goals. West Ham won the match. Great player. Rodders
Andy, I've tried to assess the actual worth of this option for sometime, no one appears able to quote chapter and verse. Your reference mentions Rosglens as owner of the balance of shares; research leads me to a private bank in that name. Would they have been involved in Grangesberg 's financial dilemmas many years ago? I'm told we have first option, is that really all it's hyped up to be? If the 50% was valued by the bank at (example only) say 3€, Aym value it at 2€ and I as a third-party am prepared to pay 5€, where do we stand? The other major factor is that all of Asset Valuation updates are not promising Jam today but someway down the road. Food for thought. Regards Roddy