Anglesey Mining plc              
Released 20 December 2004
Interim Report        30 September 2004

The rising metal prices described in the last annual report continue to be a
most encouraging feature of the minerals scene at present. Since that report,
all the metals contained in our Parys Mountain property have performed well,
and zinc particularly so. However a number of factors have made progress on
Parys Mountain slower than we anticipated. That said, we believe we are
overcoming these issues and that the continuing favourable outlook for metal
prices will be a significant positive factor for the restarting of work on
the development of Parys Mountain. We are currently examining a number of
options for financing to reactivate plans for the Parys Mountain mine project
and the possibility of attracting a joint venture partner is under active
consideration.

With current metal prices zinc and copper would contribute approximately
equal percentages of the projected revenue from the Parys Mountain mine.
Although part of the increase in metal prices is due to the weakness of the
US dollar, there is also a strongly increased physical demand for metals,
particularly driven by the phenomenal growth in the Chinese economy, and a
lack of new mine production coming on stream. These factors are very
encouraging and will have a very significant effect on Parys Mountain long
term.

According to the Robertson Research independent calculation of in situ
resources, the following quantities of metal are presently identified at
Parys Mountain: copper 151,000 tonnes, lead 167,000 tonnes zinc 345,000
tonnes, silver 255 tonnes and gold 2 tonnes. These are very significant
quantities and the directors believe there is excellent potential for the
discovery of further deposits to add those enumerated here.

The financial results for the six month period to 30 September 2004 show a
loss of 66,464, compared to a loss of 66,551 in the comparable period last
year. The losses comprise ongoing operating and administrative expenses of
31,063 (2003 - 31,821), and interest of 35,458 (2003 - 36,754) payable on
the intercompany loan due to Juno Limited. As indicated by these numbers, the
company’s activities have been stable compared to last year.

At the annual general meeting held on 20 October 2004 shareholders approved a
new share option scheme, following which the directors granted options over
6.9 million ordinary shares exercisable at a price of 4.13p per share during
the period between one and ten years from the date of the grant. These
options are subject to a performance condition before they can be exercised.

On behalf of the board of directors

John F Kearney

Chairman
20 December 2004


Unaudited consolidated balance sheet
                         30 September 2004      30 September 2003
Fixed assets                                            
Intangible assets              5,245,393           5,186,651
Tangible assets                  185,852             186,352
Total fixed assets             5,431,245           5,373,003

Current assets
Debtors                          108,845             105,784
Cash                               3,449                 -
Total current assets             112,294             105,784

Current liabilities (note 1)
Creditors - amounts due 
within one year               (1,553,799)         (1,371,128)

Net current liabilities       (1,441,505)         (1,265,344)

Net assets                     3,989,740           4,107,659

Shareholders’ funds
Share capital - equity         1,162,414           1,162,414
Share capital - non equity     5,510,833           5,510,833
Share premium - equity         5,737,146           5,737,146
Profit & loss 
account deficit - equity      (8,420,653)         (8,302,734)

Total shareholders’ funds      3,989,740           4,107,659


Notes : -
1 Current liabilities include 1,195,528 (2003 - 1,074,908) due to Juno
  Limited, the ultimate parent company.
2 The half year figures are neither audited nor reviewed by the auditors.
  They have been prepared on a basis consistent with that of the accounts
  for the year ended 31 March 2004. The auditors' report on those accounts
  was not qualified (but contained reference to fundamental uncertainties)
  and did not contain a statement under section 237 of the Companies Act
  1985.
3 This interim statement is being posted to all shareholders and is
  displayed on the company’s website at www.angleseymining.co.uk. Copies
  are available on request from the company's registered office.
  


Unaudited consolidated profit and loss account

                     Six months to 30      Six months to 30
                       September 2004        September 2003
                                                  
Turnover                            -              -
Net operating expenses
   -   continuing operations   31,063          31,821
Interest receivable               (57)            (24)
Interest payable               35,458          36,754

Loss on ordinary activities 
before and after taxation      66,464          68,551

Loss per share – basic         0.06 pence      0.06 pence
Loss per share 
- fully diluted                0.06 pence      0.06 pence

The directors are unable to recommend a dividend.
There are no minority interests or extraordinary items.



Unaudited consolidated cash flow statement

                                  Six months to       Six months to
                              30 September 2004   30 September 2003
                                                               
Net cash outflow from continuing
       operating activities             (24,488)           (23,360)

Returns on investments 
and servicing of finance
Interest paid                                 -                 (1)
Interest received                            57                 24
                                             57                 23

Capital expenditure and financial investment
Payments to acquire 
intangible fixed assets                  (3,387)            (5,042)

Net cash outflow before financing       (27,818)           (27,379)

Financing
Increase in loans                        30,000             25,000

Increase/(decrease) in cash               2,182             (2,379)

Contacts :
Ian Cuthbertson, Company Secretary  +(44)1248 361333
John F. Kearney, Chairman  +(1)416 362 6686


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  Anglesey Mining plc
Parys Mountain, Amlwch,
Anglesey, LL68 9RE, UK
  Phone  +44 1248 361333  
 mail@angleseymining.co.uk
 

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