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Hi Roddersfield, I have met Jo once in an Amlwch pub, and exchanged a couple of emails before that; that isn't the same as being close to him. He hasn't responded to my two emails asking for confirmation of the date for the September gathering. And (I promise you I'm not being contrary here, just factual) the September gathering in no way prevents him from advancing activities in Sweden or publication of Parys Mountain drilling results. As for the 51% Grangesburg option, I did see recent discussion in this chatroom. The question was asked: on what terms, in particular at what price could the controlling interest be bought. I don't recall seeing this very important question in the RNSs from a decade ago (2013?). I'll do some digging an try to unearth it. (Others may wish to do so as well: it's in the public domain.) A Rave at Amlwch? The Young Farmers don't need a special occasion to get tanked up; I hope the Viking longboat burning ceremony will happen while we're in town. Spectacular.
Hi Brent You keep saying that Joe will provide all the answers in September, does that mean there won't be any updates before then? The update on Sweden is becoming seriously overdue. Since you're close to Joe can you explain to all on here the terms of the Option Agreement for the 51% of Grangesberg. P.S. My wife is getting excited at the prospect of this Rave in Sept.,the arm waving dancing ,volcanic upwellings and Jumbos. What do the Druids in N.Wales get up to? Oh I cannot wait.
Thanks to George and Brent for your thoughts. I guess time will tell (which is an unfortunate angle, given that last 10 years!). I guess a good test is if we get any news at all in the very near future, given the Feb RNS and that "we should hear something on both Parys and Sweden in the June 1/4". (From memory??). GLA.
I enjoyed reading George's comment yesterday. To expand on it, I'd say that share prices move in response to both fundamentals and sentiment. If the fundamentals are strong it isn't that important for there to be a stream of slick RNS announcements. Steady profits and an expanding balance sheet speak for themselves. On the other hand, when patience is needed, announcements by management that "we've got it covered" can inspire confidence, maintain positive sentiment and keep the SP up. If it were a binary choice, I'd sooner see a successful business than one kept aloft by hot air. I have every confidence that Jo Battershill is taking AYM towards profitable mining operations on Anglesey and maybe in Sweden as well. We'll be sure to ask him many questions at the September site visit to Parys Mountain and report on the answers we get.
I guess my response would be yes and no. Yes, not a lot of RNS's flying out like smarties, but when there is news now there is actually something happening behind it - this compared to the previous times of tumbleweeds and mothballs.
The new CEO has come in and created some movement, which compared with the stagnant pond we were in for the previous many years, is a welcome change! He seems to have been moving on all fronts, so it is just a case of waiting for the latest study to be completed to whip up some interest.
The commodity markets are definitely better today than they ever have been, so it's a sellers market. All it needs is for one of the sites to have positive news and that will be reflected in the SP. Remember that studies are consistently getting better - this isn't because there is more material magically appearing, but that the means to find it (and also processes and equipment to extract it) are more efficient today than they were when the mines were closed. I'm looking forward to the day that this news comes, I've waited long enough lol
I'm still hoping to get contact details for the other 6 people ( BoomVanDerBoob, Boulevard252+1, Crapgame71+2) who said they hoped to come.
The exact date is still not confirmed by our CEO Jo Battershill, but I have again written to jog his memory. Please pencil in Sat 3 Sep as a possible date.
I see some new names in this chatroom. If you would like to come along, folks, please pop me an email (email@example.com) with your name, address, phone number, and any 'plus one' or even two.
The visit is for current and prospective shareholders. On previous such visits we have seen drill-core samples, lots of arm-waving about where stuff will be situated, learned talk about the volcanic upwelling which brought copper and zinc to this unique place, and 3D representations of the proposed tunnels and shafts. If you don't know what a Jumbo is, or an acoustic televiewer (damned if I do!) then be prepared to be delighted. A splendid time is guaranteed for all.
Thanks smkr, I had seen that.I was actually seeking clarification on the detail of the option. For instance Rn s on 29/9/14 states that at that point there is one year to run,expiry 2015. Other RNS refer to the payment of a nominal amount to trigger the option and on doing so it places a one year limit on actioning that privelege. There is also mention of a fixed sum payment to acquire the additional shares and if that's the case then the purchase price could be significantly below the value of the purchase in which case the need for a large fund raise would be unnecessary. Smkr if you can advise on the terms of the option that would help us all decide the prudence of committing further monies. Your help is much appreciated.
good to see some activity on the board at least27 May '22
I hate seeing no posts for days on end. Be good to build a rapport with each other now. As from experience inevitably when this does rise and imo it will certainly do so in the near (hopefully) future, all the scoundrels and message board trolls will crawl out of the woodwork and descend into chaos.
Enjoy the quiet relaxed discussion while we can :)
“The results of the updated PFS will be important in guiding the Anglesey Board in the options to bring the Grangesberg Mine to production and on its Right of First Refusal over an additional 50.1% of the project.”
Honestbob, Perhaps Brentharg@aol.com could help us now by emailing JOE and asking for clarification. Understanding this important agreement now,not in 3 months time,will help us all have a better grasp of the situation as matters develop across the year. In anticipation thanks Brent.
That's what's unclear, the historical notes mention the payment of a small fee for this preferential position and also suggests a time limit. They also mention a nominal purchase fee. I don't know if that remains applicable? If the current stagnated shareprice reflects Sweden then It is a tiny amount. Yes that suggests considerable upside when the addition is purchased, however if the price is based on valuation then it will cost more and then it has to be funded presumably through the issue of shares? Dilution!
I would imagine it would be based on an up to date valuation, which in fairness only seems to be rising with each feasibility study... However, you could assume that the MCap of AYM includes the 10% stake in Grangesberg and infer a value from that (taking out Parys and Labrador from the equation).
Off the top of my head, AYM own 10-12% at present of Grangesberg. They have first refusal on majority stakeholding should they wish to take it. Therefore, when the time is right, they can activate that. It's usually mentioned in the RNS's and is probably on the company website somewhere.