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