Released 18 April 05
Anglesey Mining plc is pleased to announce that it proposes to raise up to £464,000 before expenses by way of a private placing of up to 11,600,000 new ordinary shares at 4 pence per share.
Application has been made for the new ordinary shares to be admitted to trading on the main board of the London Stock Exchange and dealings are expected to commence on 22 April 2005. The shares will rank pari passu with the existing shares in issue.
The funds from the placing will be utilised towards the re-establishment of the companys Parys Mountain copper and zinc project in Anglesey, North Wales by a re-examination and updating of the earlier Project Plan and Feasibility Study and an initial phase of the planned exploratory drilling programme. The funds will also be applied to working capital, strategic developments and general corporate purposes.
John Kearney, the companys chairman said Increases in prices of base and precious metals have significantly improved the prospects for the companys polymetallic zinc and copper project at Parys Mountain, Anglesey, North Wales. These funds will give the company the opportunity it has been waiting for to move the Parys Mountain project forward.
J F Kearney Chairman +1 416 362 6686
Ian Cuthbertson Finance director + 44 1248 361333
|Anglesey Mining plc
Parys Mountain, Amlwch,
Anglesey, LL68 9RE, UK
|Phone +44 1248 361333