$2Billion worth of copper, Iron ore and Zinc12 Jan 2023 16:17
mcap should be $135M, Not £7M
Anglesey Mining PLC (AIM:AYM) said it has agreed to acquire a further 29.8% of the Grängesberg iron ore project in Sweden, taking its stake to 49.75%.
Ro****en Resources is selling the stake in project owner GIAB for £525,000, comprising £87,000 in cash and 14.5mln new shares at 3p each, which will result in it holding a 4.9% stake in Anglesey
The deal also sees the transfer of 40% of the debt Rosaglen is owed by GIAB to Anglesey for a nominal sum.
An update to a pre-feasibility study for Grangesberg last July indicated a post-tax NPV (net present value) of US$688mln at an iron ore price of US$120/tonne.