21 January
2021
Placing of 10 million new shares for £660,000
Anglesey Mining plc entered into a placing agreement today through
Monecor (London) Limited trading
as ETX Capital to issue 10,000,000 new ordinary shares,
representing approximately 4.7% of the company’s current issued
share capital, at 6.6 pence per share
to raise a total of £660,000 gross. Application will be made for
these shares to be admitted to listing on the London Stock
Exchange.
The proceeds of the issue will be used for general corporate
purposes and particularly to continue the development of the
group’s Parys Mountain property as
outlined in the recent positive Preliminary Economic Assessment for
that project.
The group will also use utilise some proceeds for the further
evaluation of other base metal projects at advanced stages suitable
for incorporation into the group.
In addition to Parys Mountain,
Anglesey also has a 12% interest in Labrador Iron Mines Holdings
Limited which holds direct shipping iron ore deposits in
Labrador and Quebec where a Preliminary Economic Assessment
is currently in process on its Houston project.
Anglesey also holds a 20.0% 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%.
Bill Hooley, Chief
Executive stated, “Following the recent release of the
details of the positive Preliminary Economic Assessment on
Parys Mountain, we are very pleased
with the substantial support shown for the project and for the
Company with this placing. We will continue to drive forward
with all our investments and we look forward to continuing support
both from our new as well as all our current shareholders.”
Admission and Total Voting Rights
The directors have authorised the proposed issue of the new
shares under the dispensation approved at a General Meeting on
30 October 2020. The new
ordinary shares of 1 pence each to be
issued in respect of this transaction will rank pari passu with the
existing ordinary shares of the company.
Following completion of this issue and admission to listing, the
issued ordinary share capital of the company will be 221,975,732
ordinary shares of 1 pence each with
voting rights; there are no shares held in treasury. This
figure may be used by shareholders as the denominator for the
calculations which will determine whether they are required to
notify their interest in the company, or any change to that
interest, under the Financial Conduct Authority’s Disclosure and
Transparency Rules.
For further information, please contact:
Bill Hooley, Chief Executive - 07785
572517
Danesh Varma, Finance Director -
07740 932766
Thomas Smith, Monecor (London) Limited trading as ETX Capital - 0207
392 1568