Anglesey Mining plc              

 

7 November 2007                                                                 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 a circular relating to the proposed disposal of part of the Company’s interests in the Labrador Iron Properties ("Circular") has today been posted to all shareholders, other than those resident in Canada.  The Company has been advised by Canaccord Adams Limited (“Canaccord”) in respect of this matter.

An extraordinary general meeting of the Company ("EGM"), to approve the above-mentioned partial disposal, has been convened for 11:30 am on 30 November 2007.  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 called Labrador Iron Mines Holdings Limited and the subsequent listing of its shares on the Toronto Stock Exchange.

The EGM will immediately follow the Annual General Meeting (“AGM”) of the Company which has been convened for 11:00 am on the same day at the offices of DLA Piper UK LLP, 3 Noble Street, London EC2V 7EE.

Notice of the EGM and AGM and proxy forms for both meetings have been sent to all shareholders, other than those resident in Canada who will only receive notice of and proxy forms for the AGM.

The Company will also be sending, no later than 20 November 2007, a supplemental letter to all shareholders (other than those resident in Canada) which will contain further information on the expected range of the number of Units to be sold and the expected price range of those Units.  The supplemental letter will also contain any additional material information necessary to be provided to shareholders at the date of the letter.

Bill Hooley, Chief Executive, commented: “We are very pleased that in conjunction with Canaccord we are moving towards the financing of the Labrador properties through the proposed Placing. In addition to providing funding for the development of the Labrador properties we believe that this proposed placing will enable the Company’s retained interest in the Labrador properties to be valued appropriately in the market place.  The Company believes that this is a unique opportunity to be part of the exciting current world-wide iron ore market. In addition, we look forward to this value being recognised in our continuing plans for financing the development op the Parys Mountain project in North Wales.”

 

The Circular is available for non-residents of Canada and the USA only. To view the Circular click here 

 

About Anglesey Mining

Anglesey Mining plc is a UK based company listed on the London Stock Exchange with two major projects under active development towards mining production. 

 

For further details:

Ian Cuthbertson, Finance Director           +(44) 1248 361333

Bill Hooley, Executive Director                +(44) 1492 541981

John F. Kearney, Chairman                     +(1) 416 362 6686
Robin Birchall, Canaccord Adams Limited   +(44) 20 7050 6500

Parkgreen Communications                    +(44) 20 7851 7480

 

Website www.angleseymining.co.uk

 


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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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