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Anglesey Mining PLC - developer of Parys Mountain zinc-copper-lead deposit in Wales - Reports an updated resource estimate at its Parys Mountain project in Anglesey, which was carried out by independent consulting firm Micon International Ltd, of 5.2 million tonnes of indicated resources at a combined bas metal grade of 4.3%, with 11.7 million tonnes of inferred resources at a combined base metals grade of 2.8%. Says this is based on the revised estimated cut-off cost of USD48 per tonne.
"This preliminary economic assessment demonstrates that a major mining operation can be established at Parys Mountain, with robust economics at a reasonable capital cost, and can produce copper, zinc, lead and gold concentrates at competitive operating costs able to withstand the cycles that occur within our industry, over a meaningful mine life of 10 to 12 years," says Chief Executive Bill Hooley.
Current stock price: 8.52 pence
Year-to-date change: up 31%
By Zoe Wickens; zoewickens@alliancenews.com
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