Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Is "MM" short for Magyar Misanthrope?
Folks, the every utterance of Huzarski is aimed at inflating the SP or the reverse. He's a ramper.
He's also subject to furious verbal intemperance (his insults last November were censored out but can still be read by clicking on his name). Happily, his only effect on others on this BB is via his laughable juvenile keyboard antics. His poor wife (he refers to her disparagingly as "Wifey") has to live with this geezer.
I'd love to see a photo of him to see if it matches my mental image - a Hungarian Harvey Weinstein but slightly less attractive.
If you look at this BB at 11 September last year (Prev Page 4 or 5 below) you'll see my attempts to report what happened at the Open Day the day before at AYM's Parys Mountain site. The seven or eight "Takeaway Points" I wrote were as open and honest as possible. I try to play with a straight bat, leaving it to others to ramp or deramp.
Since then the picture has evolved a little with RNSs published by the company. If your object is to understand the current situation, I suggest you read those Takeaways plus the RNSs.
I think we're all hoping to get a maximum return on our investments. If the day should come when I win a handsome riverside pad in Stratford on Avon plus a nest for each of my three daughters I hope that I won't be smug enough to boast about it to utter strangers. And if I do become so dazzled by my own dazzling wonderfulness I hope that one of my nearest and dearest will tell me what an *********** **** I have become.
Are you still scuba diving? Wrong time of year, I suppose. Young relatives of ours have just tried to take us up on our long-standing offer of an adventure weekend in North Wales - canoeing and hill-walking and all that. We told ‘em to wait until the warm weather returns.
Your query is in two parts. (1) The opening price is at a nominal midpoint between Bid and Offer. In today's case that midpoint is 2.4p. The percentage rise/fall refers NOT to a shift in midpoint but the most recent trade divided by the opening midpoint. The 2.5p trade at 16.40 is 4.17% above 2.4p. (2) I would speculate that the reason for the Price Monitoring Extension is that somebody attempted a very big buy or very big sell at close of business, tripping a 'virtual circuit breaker' which prevented that trade going through. If so that attempt may be repeated tomorrow morning.
I was wondering about the reverse: selling off our interest in Grangesberg and using the proceeds to do everything at Parys Mountain without needing further finance. Either way, I’m sure that Jo will come up with the best way of turning assets into revenue.
I have long puzzled over why the Earth’s minerals are not ****geneous like a great porridge. The answer is fairly obvious in the case of sediments such as sandstone and limestone - localised concentrations in the ancient seabed. But a great dollop of lava spewing out of a volcano must surely have the same concentration before and after cooling, and Parys is volcanic.
Uncle Jo supplied the answer at the September site visit: those ‘black smokers’ filmed at the mid-Atlantic trench spew mineral-rich water upwards and it settles back down at different rates according to the mineral’s density.
Bill Hooley once described the Parys Mountain deposit as like a great solidified pool of metal-rich lava shaped like Noah’s Ark. Subsequent tectonic shifts made that ship-shape tip over into its side. Our Bronze Age predecessors, then the Romans and Victorians, only scratched at the starboard bow. 99.9% of this wonderful resource is still down there. And it’s ours I tell you….OURS! (Mad cackling as Klondike Jake does a dance and shows the other prospectors the shiny stuff gleaming in his pan…)
I must confess that I hadn't heard of W H Ireland, a "wealth management" and advisory group with a 150-year history. https://www.whirelandplc.com/about-whireland. I guess they haven't heard of me either ;-)
They reckon that AYM's share price should be five times what it is. https://www.linkedin.com/posts/anglesey-mining-plc_wh-ireland-anglesey-mining-aym-advanced-activity-6995685348966080513-Fpko?utm_source=share&utm_medium=member_ios
Separately our Chairman, John Kearney, points out how well placed AYM is with its enormous mineral wealth in politically stable jurisdictions - Sweden, Canada and dear old Blighty - at a time when electric cars are within a few years of replacing proper ones and at a time when we westerners count our blessings in NATO membership (my words, not his). https://www.angleseymining.co.uk/half-yearly-report-for-the-six-months-to-30-september-2022/
Pleased as I am to see the market's tide flowing in our favour, and the superb concentrations of metals in our properties (70% iron in Sweden, 2%+ copper on Anglesey with "multiple broad intercepts"), to my mind our biggest asset is having Jo Battershill at the helm: a canny, energetic, multi-skilled wheeler-dealer at just the right age for a businessman.
Some may remember that I reported extensively in this BB on what we learned at the 10 September site visit. Looking back through my notes I see a few points relevant to recent postings here.
a. Jo Battershill was a broker for 15 years. (I would therefore expect him to be quite skilled in raising finance for AYM's projects)
b. The Parys Mountain drilling results show some "stellar" results. "There's some really really juicy stuff down there." We have 2% Cu equivalent. This compares to worldwide concentrations which have fallen from 1.1% to 0.5%.
c. Jo said, "If we can get this permitted in 12-18 months it'll have a major effect on the market". Also, "To get that Permit we need to show the Local Authority the economics".
d. Grangesburg is close to its market, with a nearby rail head. It'll take c$400m to get started. The Swedish mining minister has said "we need more mines". Jo said "European electric arc furnaces have to get their iron ore from somewhere."
e. As previously mentioned, when Jo joined AYM he reckoned the chances of getting Parys Mountain into production were about 95%. With what he has since learned he now puts that figure at 99% - the missing 1% being permitting.
Investing in this business is not a matter of "keeping the faith". It's more to do with rational evidence-based investment decisions. I still expect to see a handsome return on my investment. Those who take a different view can easily hit the SELL button.
Slim, I think that our CEO is aware of this BB with its positive and negative views on shareholder value. He doesn’t need me yakking at him. I’m just a punter, same as you, just as keen to see a return on my investment. As long as I have confidence in the guys running the business on our behalf my approach is to just let ‘em get in with it.
I have every confidence in Jo and his guys. Like you I’d much prefer a rising SP rather than a declining one. But shareholder sentiment is currently a greater force than all the assaying and mine-designing taking place. When production is imminent, shareholder sentiment will improve - maybe even become exuberant.
It would be fun to see a copy of the Verboten word list at LSE. Whoever compiles it can’t be a starry-eyed innocent cos he/she needs to know the naughty words in the first place. I have a copy of a Kenny Everett show in which he asks “Can I say bum on the BBC?” followed by a series of voices echoing down the corridors of power “Can he say bum on the…” and then a home made song going bum-bum-bum.
I fell foul of the Verboten list for referring to the nuclear-waste-under-Parys nutters as conspir-acists.
If you pop to the AYM site at Parys Mountain and ask nicely they'll probably give you a piece of drill core. I have one on my mantlepiece, and they are discarded by the company after analysis. It's a small reminder that over the course of your 15 years there has been more activity than on cow dung.
In the months before D Day there were people demanding "second front NOW" (the first front being in Eastern Europe). If those people had made this demand to Eisenhower's face he would surely have said, "When we're ready and not before".
The report by W H Ireland includes some good quotes. In listing 8 or 9 different categories of risk, the final one "Project Execution Risk" is evaluated as Low, with the happy statement: "The strong executive team offset the risk, in our view."
I think all the shareholders who attended September's site visit to Parys Mountain came away impressed with the knowhow and character of AYM's officers; to see that judgment backed up by some experienced wealth-management professionals is very satisfying.
I'm still working my way through this report; if others in this BB would like to read it and chip in their findings, feel free!
gg, in my 23 October posting I have reposted a couple of recent quotes from CEO Jo Battershill. He and his team are taking the steps needed to get us into production.
There's an analogy with space rockets which just sit quietly on the launchpad until the countdown reaches zero. (Off topic: Elon Musk's Starship is due to go into orbit for the first time before the end of the year... exciting times for space fans.)
A few weeks after the successful site visit to Parys Mountain, Jo Battershill updates us on the progress since then:
"With the final encouraging assay results now received, we can move onto the next round of workstreams for Parys Mountain. As previously highlighted, core will be sent to Grinding Solutions to conduct pre-concentration studies on representative samples from areas that are likely to be mined. We believe that the ability to selectively remove the unmineralized material would have a significant positive economic impact for the ongoing development studies." The numbers are reported in the 20 October RNS. Typically 6% "zinc equivalent" but up to a stonking 19.9%. (That is, percentage of useful metal in the drill cores - Cu, Pb, Au, Ag being reported for simplicity as if they were Zn.)
https://www.angleseymining.co.uk/final-assay-results-from-parys-mountain-2022-drilling/
He adds: "In other areas, we continue to progress the surveys required for the environmental baseline work and we will soon commence the initial design work for the tailings management facility. Both aspects are critical to progressing Parys Mountain through the permitting phase. Meanwhile, work on advancing the Northern Copper Zone is progressing well. As part of this process, Anglesey’s team has reviewed the historical drilling and resource model of the Northern Copper Zone with the aim of identifying prospective areas that would optimise future drilling programmes. We will focus on the zones that could have the most immediate impact on the mine design and production schedule. Historical drilling and internal reviews would suggest that the Northern Copper Zone could be significantly larger than the current resource estimate suggests, but additional drilling will be required to confirm this potential."
We all want action - this is action. It's about time the share price reflected AYM's bright future. Until that happens... what a bargain.
Hi, Slim. The gatherings at Parys Mountain can only happen in an atmosphere of good will - of which there was plenty last month. I’d say that most of the participants share my view that Jo and his fellow managers know their stuff, that they are keenly aware of the duty they owe the owners of the business - us lot, and that we now need to let them get on with it.