Re Bubble202124 Feb 2023 09:41
No one from AYM could be bothered to turn up at Parys for that BBC interview (my inside info from the BBC tells me they declined to attend). Locals on Anglesey have heard promises of job's for years so take what they hear with a shovel of salt.
Grangesberg closed in 1990 a year ahead of schedule. the workings are flooded, shafts capped and surface infrastructure exposed to the ravages of 30+ years of weather. This is not a case of engaging a new workforce throwing open the gates and hey presto back in business. This is not a start up it's a start again. God alone knows why it was bought in the first place. In order to benefit from a new steel plant it would need to be developed in tandem with the construction of said plant, there is no indication that is going to be the case.
In more than 30 years we haven't managed to bring Pary's back to production so taking on a project that we cannot fund and the development of which is years behind that of Parys is to me pointless. As previous we don't have a good track record.
There has always been a demand for quality ore so one is forced to ask the question as to why Grangesberg closed in the first place.
Yes I agree the assets in both cases and the potential is huge but as we've seen with Parys developing those assets takes an inordinate length of time. I stand by my assessment of mid 2030 for Grangesberg and hopefully late 2020 for Parys to enter production.
I'm a LTH of best part of 20yrs off and on but even at this SP I wouldn't be topping up, save your pocket money. I've lost faith in the DOB.