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Pin to quick picksAnglesey Mining Regulatory News (AYM)

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Labrador Iron Mines – Preliminary Economic Assessment

9 Mar 2021 14:00

ANGLESEY MINING PLC - Labrador Iron Mines – Preliminary Economic Assessment

ANGLESEY MINING PLC - Labrador Iron Mines – Preliminary Economic Assessment

PR Newswire

London, March 9

9th March 2021 LSE:AYM

Labrador Iron Mines

Houston Preliminary Economic Assessment

Anglesey Mining plc (“Anglesey”) is pleased to report that Labrador Iron Mines Holdings Limited (“LIMH”) in which Anglesey has a 12% holding has released the details of a Preliminary Economic Assessment (“PEA”) on its 52% owned Houston Project.

Analysis

The Houston PEA which was prepared by Roscoe Postle Associates Inc of Toronto reviewed the development of the Houston and Malcolm deposits in Newfoundland and Labrador and in Quebec, Canada. The PEA suggests a production time frame of 12 years after an 18-month construction period. Iron ore production would amount to approximately 2 million tonnes per annum of 62% iron lump and sinter direct shipping ore. Initial capital cost including contingency is forecast at a relatively low US$65 million.

The forecast after tax financial results are strong with an NPV8 and an IRR at US$90 per tonne for 62% Fe ore of C$109 million and 39% respectively.

Using the current 62% Fe ore prices of US$160 per tonne increases these financial results to C$459 million and 209% respectively.

Further details can be found on the LIMH website at www.labradorironmines.ca

About Anglesey Mining plcAnglesey Mining is listed on the London Stock Exchange and currently has 221,975,732 ordinary shares in issue.

Anglesey is developing its 100% owned Parys Mountain copper-zinc-lead deposit in North Wales, UK with a 2020 reported resource of 5.2 million tonnes at 4.3% combined base metals in the Indicated category and 11.7 million tonnes at 2.8% combined base metals in the Inferred category. 

Anglesey holds an almost 20% interest, and management rights to the Grangesberg Iron project in Sweden, together with a right of first refusal to increase its interest by a further 50.1%. Anglesey also holds 12% of Labrador Iron Mines Holdings Limited which holds direct shipping iron ore deposits in Labrador and Quebec.

Anglesey is currently reviewing other compatible base metal projects at advanced stages suitable for incorporation into the Anglesey Group.

 For further information, please contact: Bill Hooley, Chief Executive +44 (0)7785 572517Danesh Varma, Finance Director +44 (0)7740 932766

Date   Source Headline
13th Mar 20247:00 amPRNFurther drilling results confirm scale of Northern Copper Zone at Parys Mountain
20th Feb 20247:00 amPRNNorthern Copper Zone Drilling Update - Broad Zone of Sulphides Intersected in Hole NCZ002
19th Jan 20247:00 amPRNParys Mountain drilling returns strong assays including 22.0m at 3.7% CuEq
19th Dec 202312:01 pmPRNHalf-year Report
13th Dec 20238:45 amPRNParys Mountain - Northern Copper Zone Drilling Update
7th Dec 202310:54 amPRNHolding(s) in Company
7th Dec 202310:52 amPRNHolding(s) in Company
5th Dec 20237:00 amPRNParys Mountain - Northern Copper Zone Drilling Update
4th Dec 20237:00 amPRNParys Mountain - Positive Preliminary Results from Metallurgical Testwork
29th Nov 20237:00 amPRNHolding(s) in Company
14th Nov 20237:00 amPRNDirectorate Change
27th Oct 20233:21 pmPRNResult of AGM
26th Oct 20239:48 amPRNParys Mountain - Exploration and Drilling Update
5th Oct 20237:00 amRNSResignation of Chief Executive Officer
2nd Oct 20239:00 amPRNBlocklisting - Interim Review
25th Sep 20237:00 amPRNAnnual Financial Report
23rd Aug 20239:28 amPRNNotification of Major Holding(s)
3rd Aug 202310:29 amPRNHolding(s) in Company
3rd Aug 20237:00 amPRNParys Mountain - Exploration and Drilling Update
25th Jul 202312:44 pmPRNResult of Placing
25th Jul 20237:00 amPRNProposed Placing to raise approximately £0.5m
28th Jun 202311:42 amPRNHolding(s) in Company
5th Jun 20231:30 pmRNSHolding(s) in Company
24th May 20237:00 amRNSHolding(s) in Company
28th Mar 20232:05 pmRNSSecond Price Monitoring Extn
28th Mar 20232:00 pmRNSPrice Monitoring Extension
10th Jan 202311:05 amRNSSecond Price Monitoring Extn
10th Jan 202311:00 amRNSPrice Monitoring Extension
10th Jan 20239:05 amRNSSecond Price Monitoring Extn
10th Jan 20239:00 amRNSPrice Monitoring Extension
6th Jan 20234:40 pmRNSSecond Price Monitoring Extn
6th Jan 20234:35 pmRNSPrice Monitoring Extension
6th Jan 20232:05 pmRNSSecond Price Monitoring Extn
6th Jan 20232:00 pmRNSPrice Monitoring Extension
6th Jan 202311:05 amRNSSecond Price Monitoring Extn
6th Jan 202311:00 amRNSPrice Monitoring Extension
13th Dec 20224:35 pmRNSPrice Monitoring Extension
22nd Aug 20222:05 pmRNSSecond Price Monitoring Extn
22nd Aug 20222:00 pmRNSPrice Monitoring Extension
8th Jun 20227:00 amRNSDeath of Bill Hooley - Deputy Chairman & Director
17th May 20224:41 pmRNSSecond Price Monitoring Extn
17th May 20224:36 pmRNSPrice Monitoring Extension
17th May 20227:00 amRNSResult of Placing and Subscription
16th May 20225:15 pmRNSProposed Placing and Subscription
13th Apr 20227:00 amPRNDirector/PDMR Shareholding
8th Apr 20228:00 amRNSRemoval- ANGLESEY MINING PLC
8th Apr 20227:00 amPRNAnglesey Mining - Admission to AIM
5th Apr 20225:30 pmRNSAnglesey Mining PLC
29th Mar 20224:24 pmPRNBlocklisting - Interim Review
11th Mar 202210:00 amRNSSchedule One - Anglesey Mining plc

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