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I was pointing Andy to the website because if he have a look there it has detailed information that he may find helpful
As an observation I had no children when i first took an interest in the company - now my children have children(and not young ones) On previous occasions for my amusement and doubtless to the irritation on other posters I have highlighted how many printed ministers have come and gone since the company aquired Parys rights - length of time for brexit and channel tunnel etc. I shall not do so again today and do hope that the latest round of drilling and reports etc will lead to some actual mining. I
Yes, but the world we are in at the minute isn't as simple as it used to be. I can imagine there are logistical delays on many such events happening in the Scandinavian region.
The beauty of the Grangesberg position is that there is a process in place to increase ownership whenever the board of AYM decide. Therefore, once viability is confirmed they can increase their holding and that in turn multiplies the value of AYM. I have always believed that the mining opportunity in Sweden is the one that will give the greatest return. When Labrador was running, this share reached 92p and it was nowhere near as strong in terms of what's under the surface.
Georgie the Belfast Boy. Been itching for months to post that,no offence meant. That's the unfortunate position with this share you have to go back 8 years to try and piece together what the actual contractual position with Sweden is? You are correct that reference was made to Sweden in February this year with results expected Feb/Mar, April has gone and June is within a few days. Zzzzzzzzz
Bob, I'm in UFO too, and although it looks good, they are in even worse state than us since Jo got appointed (-40%). George, Are we building Rome? that might be quicker! I'm only venting good people, and having a bit of fun to ease the pain of losing money. Good luck, let's hope we get things moving soon.
So when do we get news of the infill drilling results? I assume a good result lifts the share price?? I am not sure if this is a ferrous or non-ferrous mining company. The directors need to be looking at the iron ore in Sweden in light of Russian supply issues into Europe. This is where the true value is in the share, not a hole in Wales (Apologies to the Welsh). Do we even have valuations available for the holding at Grangesberg?
Today, 26/05/22, Anglesey Mining did announce no nothing..... Again.... Zzzzz Anglesey appointed a new dynamic BoD in 2021, after 10 years of no news from their previous BoD.... Added to this, AYM did transfer to become an AIM share... This also prompted a flood of no news. End of report.
Apologies to some of the other messages I did not reply to it appears rude. I get time when possible to jump on the desktop to post on here. I read the replies :).
Normally I would be irked by the placing as it brings the price down initially and for me into the red (average of 4.2).
However the reasons for the placing and the encouraging signals it is sending out, means I view this as a positive. I dont want to call it and have egg on my face later down the line, but I really think this time round the company will push forward to a producing Parys Mine.
The encouraging sign that Jo purchased some shares above 4p and the debt restructuring not only brings the debt down to Juno but also that they are happy with shares rather than money.
I think those of us with patience and a long term view here are going to be handsomely rewarded.
Jo's participation (with his own money) is the biggest encouragement. More so as we await news on Grangesberg and for assays on Parys.
I would anticipate that Jo knows a lot about where we stand on these two projects. Most Geos would run a handheld XRF down a core out of curiosity, indeed most assay labs will do the same to give themselves a baseline for expected assay results. A Geo doesn't need as assay to know what he or she has got.
My best guess is that Jo has a pretty good idea of where we stand on both developments. I am still of the opinion that Grangesberg is the bigger of the two opportunities.
With Russia likely to be excluded from European Iron ore markets for some time and with Sweden's new found enthusiasm for reactivating mining activities, Grangesberg which we would have 70% control over could become an enormous asset.
Reactivating a mine is a very complicated project and not without it's issues, however the size of the prize is massive.
Iron ore prices are now well above the levels required to make Grangesberg profitable and we might be no more than 3 years away from production.
Yes, Goeorge, I agree. Uncle Jo knows his stuff. In case the RNS is attracting newcomers to this chatroom, I’ll repeat that there is to be a mine visit in September, open to current and prospective shareholders. To be added to the guest list please contact me. As for the exact date it may be the first Saturday in Sep but Jo has yet to confirm that.
Further to last posting also I think encouraging that Juno have shown faith by converting part of their debt(which in event of company liquidation would rank ahead of equity) actually to equity whilst seemingly accepted that the reduced interest rate on debt also reflects a better position. Would imply a degree of confidence on their part. I also like that they have not overdone the conversion and created too much dilution.
Not the RNS i've been hoping for but good news I think, funding for further progress on Parys - northern copper zone drilling ? - and starting to deal with the elephant in the room ( Juno debt, nice to see a reduced interest rate) Any hit to the SP will hopefully be transient, news from Sweden or core results would be timely this week! GLA
I’m a massive Beatles fan, and read in one of the biographies that Lennon had a tantrum over the long interval between playing something and being able to hear the results. He was putting undue pressure on the technicians. McCartney soothed him with; “Look, John, it’s a process. It takes as long as it takes.” Such wisdom from a young guy in his early twenties has me in awe.
The core drilling at Parys Mountain, supplementing the previous encouraging but incomplete drilling, is such a process, as is the subsequent interpretation by our subcons (Micon, if I remember).
So the delay is not a matter of shiftless blokes spinning it out: it’s a process, taking as long as it takes.
When the keenly awaited report is published we’ll all smile. And then another process will begin, to do with raising funds for the big dig.
We won’t be seeing revenue from base metal sales for years. But a steadily rising share price reflecting the unstoppable rise of AYM will put a big grin on my face!