Anglesey Mining PLC - mining company with interests in projects in Wales, Sweden and Canada - Completes GBP768,230 placing to raise funds to start work at both the Parys Mountain project on the isle of Anglesey and the Grangesberg iron ore project in Sweden.
Places 22.6 million shares at 3.4 pence each. Notes Chief Executive Jo Battershill subscribes for 1.6 million shares.
Battershill says: "I am very pleased with the funding for a number of reasons. Firstly, the strong demand demonstrates a genuine investor interest in seeing the Parys Mountain and Grangesberg projects advanced through to their next stages of development. Secondly, it has provided me with an opportunity to align myself with shareholders to participate in the equity upside that I believe is achievable with Anglesey Mining and finally it provides an additional level of comfort from a working capital perspective.
"On the projects, I am incredibly excited to be able to get the drills turning again at Parys Mountain. The initial infill programme will enable us to convert the remaining portions of the White Rock Zone into the higher confidence indicated resource category and provide important geotechnical and metallurgical data, which will provide critical information feeding into the feasibility study in 2022."
Current stock price: 4.05 pence
Year-to-date change: down 38%
By Paul McGowan; paulmcgowan@alliancenews.com
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Anglesey Mining (AYM)