Anglesey Mining Regulatory News (AYM)

7 Nov 2007 07:01

Anglesey Mining PLC07 November 2007 7 November 2007 Anglesey Mining LSE:AYM Class I Circular re partial disposal of Labrador iron properties posted to Shareholders AGM and EGM called for 30 November, 2007 Anglesey Mining Plc ("Company") is pleased to inform its shareholders that acircular relating to the proposed disposal of part of the Company's interests inthe Labrador Iron Properties ("Circular") has today been posted to allshareholders, other than those resident in Canada. The Company has been advisedby Canaccord Adams Limited ("Canaccord") in respect of this matter. An extraordinary general meeting of the Company ("EGM"), to approve theabove-mentioned partial disposal, has been convened for 11:30 am on 30 November2007. The proposed partial disposal is to be effected by the sale, in Canada,of Units (being shares and warrants) by way of a placing in a new company calledLabrador Iron Mines Holdings Limited and the subsequent listing of its shares onthe Toronto Stock Exchange. The EGM will immediately follow the Annual General Meeting ("AGM") of theCompany which has been convened for 11:00 am on the same day. Notice of the EGM and AGM and proxy forms for both meetings have been sent toall shareholders, other than those resident in Canada who will only receivenotice of and proxy forms for the AGM. The Company will also be sending, no later than 20 November 2007, a supplementalletter to all shareholders (other than those resident in Canada) which willcontain further information on the expected range of the number of Units to besold and the expected price range of those Units. The supplemental letter willalso contain any additional material information necessary to be provided toshareholders at the date of the letter. Bill Hooley, Chief Executive, commented: "We are very pleased that inconjunction with Canaccord we are moving towards the financing of the Labradorproperties through the proposed Placing. In addition to providing funding forthe development of the Labrador properties we believe that this proposed placingwill enable the Company's retained interest in the Labrador properties to bevalued appropriately in the market place. The Company believes that this is aunique opportunity to be part of the exciting current world-wide iron oremarket. In addition, we look forward to this value being recognised in ourcontinuing plans for financing the development op the Parys Mountain project inNorth Wales." For further details: Bill Hooley, Chief Executive +(44) 1492 541981 Ian Cuthbertson, Finance Director +(44) 1248 361333 John F. Kearney, Chairman +(1) 416 362 6686 Robin Birchall, Canaccord Adams Limited +(44) 20 7050 6500 Parkgreen Communications +(44) 20 7851 7480 This information is provided by RNS The company news service from the London Stock Exchange