The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
It's clear I don't have the optimism of some on this BB given the lack of progress over not years but decades. AYM themselves don't have the where with all to proceed with any of these enterprises so JV in Canada,Sweden or Anglesey would appear the only viable option.Those with the pockets deep enough to buy, mine holes in the ground almost as big as Anglesey so the long dormant pimple of Parys is of no interest to them and LIM - Grangeberg are not wholly owned by AYM so other parties and interests come in to play and they are not necessarily looking at joint ventures. Yes metal prices are high at present but that may not always be the case as history has shown.High prices are only relevant if the stuff is coming out of the ground or there are interested parties looking to JV or buyouts ,in both of the former that is not the case though I do concede that higher prices do make all of AYMs interests more appealing.
I was never out to make a fast buck but if I were thinking of investing in AYM today I don't think I would given the length of time I've been here already and still no tangible return in sight and given the present BOD lack of achievement little prospect of returns in the future.
As I've admitted in the past investing is a form of gambling,your taking a chance that things will go your way, that the company you've invested in has a coherent plan for it's future,in AYMs case future planning seems to have escaped them.Once again the can has been kicked down the road into the scrub lands of ifs, buts and maybes (someone else needs to look at the paperwork). I sincerely hope I'm wrong for all of us invested here but I don't see the future through rose tinted spectacles as some here do.You may have the last laugh,SP may go through the roof,if it do's and on that day I will hold up my hands and say you no what you guys were right after all.Till then I like the rest of us await the Annual Report with anticipation of better news.
Any investment is a gamble
Invest in Aym I wouldn't bother been here over ten years and expect to be in same position in another five years. My investment is not large but sufficient for me to continue to hold in the vain hope of a return at some point. The call is yours to make but significant returns are a long way off. If you have the patience to wait then so be it as nothing is going to happen anytime soon.
At this point in the world economy would anyone be interested in Grangeberg and what exactly was AYM's intentions when they took a share? soon after it ceased operations as did LIM.If the BOD had joined up thinking they'ed be dangerous.
The excitement will all be over tomorrow and by the end of the week forgotten about and we'll be back to normal. Where has last years fund raising gone? Still no talk of opening Parys just someone else needs to look at all the paperwork,how many times have we been down this road,if they don't know whats in there by now they never will. We're well and truly on the express bus to La La Land.
The present DOB should be removed forthwith, if their happy with the lack of progress then they in all honesty cannot claim to be acting in the interests of shareholders. No business savvy director would act in this way and as for the involvement of QME that has been nothing but a smoke screen to hide their general incompetence.
Believe all the paper work is in place with Isle of Anglesey Council and has been for some time with regards to transport by road to Holyhead. Getting all interested parties to agree with regard to the proposed reopening of the rail line would take as long as reopening Parys (sometime never).It was just a thought but if it's already been dismissed at least it was discussed in the first place.
As share holders we entered into a formal agreement as apposed to an informal agreement with AYM (Oxford English Dictionary definition of a scam) is an informal transaction between one or more parties. Anglesey Mining have a number of assets none of which are producing a revenue stream having been dormant for a number of years therefore not producing a return to investors.Parys Mountain 100% owned by AYM being the main asset. Decades of inactivity and false dawns have come to nothing.Parys has a paper value based on the daily prices of the metals within as determined by the LME but that having been said it is only worth what someone else is prepared to pay for it and at this point in time it would appear it would be hard to give away. Parys was last mined in the 1960s and as a multi-metal deposit requiring an inordinate amount of cash to bring it to production has little if any appeal to the mining community. Anglo American,Rio Tinto,Glencore,BHP etc prefer working mines if their on a buying spree. In this context SCAM was probably a bit strong, as investors we are by nature speculators, some you win some you lose, but due to the moribund state of the BOD and the fact AYM has had my invested cash for more years than I care to remember on a personal level I feel scammed Annual Report not withstanding
Why then did I invest in the first place I hear you ask? Answer :I thought I would be supporting the future and economy of the Isle of Anglesey, a nationalist gesture so to speak.
QME's involvement was just a smoke screen to convince gullible shareholders (self included) that things were about to happen. As previously stated on this BB it doesn't take 18 months to look at the existing paperwork and do some 3D modeling,site visits were not required as there was nothing to see.If this project was ever going to be developed it should have been over a decade ago and now we have a ready made excuse in the form of Covid 19 to do nothing again. I will continue to hold AYM shares but as stated a few weeks back firmly believe that the present situation will be the same 5 years hence. Sorry folks we've been SCAMMED well and truly SCAMMED.
We'd all like to see a return on our investments but as it stands the project needs a huge amount of investment before there's any chance of that happening. I don't see anyone on the horizon champing at the bit to put that money in or other mining outfits queuing up to buy AYM. I'm a glass half full pessimist but major shareholder-presumably board member or not he's failed us shareholders for years.
So whats changed/ ZILCH. No RNS/Report,Proactive investors re-hashing the same info but two months apart (I said as much at the time) was shot down by some on this BB and as for QME,well we don't know.
QME private company registered at companies house with two directors Peter & Brenda McParland,Brenda appears not to have a day-day roll in the running of the company,they have offices in Toronto,Canada but have no operations in Canada likewise offices in Perth,Australia yet again no operations in that country. they do list clients in Canada so assume they've supplied equipment. As for Australia that's mining for the big boys so fail to see what in the way of expertise or equipment they could offer.Their core business would appear to be selling/hiring of new,second hand and refurbished mining equipment.Mining operations seem to be totally in Ireland and small in scale. QME don't have the money to develop Parys Mountain (refurbishing Morris shaft alone would take a fortune) along with AYM so they are hardly JV partners in any true sense of the word. AYM to small as pointed out to be of interest to the big boys and any medium operator is not going to take much notice of scoping studies/feasibility studies that have been done to date,they'll want their own.So what was the point of QME's involvement? all they appear to have done is moved the tonnage around to make mining look more viable but in the present post Covid period of uncertainty and world wide economic down turn the BOD once again have a valid excuse to kick the can down the road. I'll be very surprised though disappointed if this project is ever developed. We could all end up shareholders of Parys Mountain Heritage Limited,listed at Companies House as having exploration and mining rights for non-ferrous metal ore. As for myself my exposure is not great so will continue to hold AYM in the vain hope of someday showing a return for my patience but fully expect to be in same position 5yrs from now .Sorry lads but it's never going to happen which is my sad conclusion,I think we're all deluding ourselves and as for QME ,bringing them on board has achieved very little if anything. Personal opinion so thoughts/comments appreciated.