REG-Anglesey Mining Plc: Anglesey Mining Announces Signing of Letter of Intent to Progress High-Density Fluid Hydro-Power Energy Storage Project

Anglesey MiningAnnouncement

30/07/2025 07:02

 

 

Trading Symbol

AIM: AYM

 

30 July 2025   

 

Anglesey Mining plc

(“Anglesey Mining”)

 

Anglesey Mining Announces Signing of Letter of Intent to Progress High-Density
Fluid Hydro-Power Energy Storage Project

 

 

Anglesey Mining is pleased to announce that it has signed a Letter of Intent
with RheEnergise Limited (“RheEnergise”) to further progress a
high-density fluid hydro-power energy storage project at Parys Mountain.

Anglesey Mining is determined that the energy storage project be a force for
good in the community and is delighted to have received in principle support
for the scheme from the Amlwch Industrial Heritage Trust, Geo Môn and Menter
Môn. Anglesey Mining is also grateful to the Anglesey Energy Island™
Programme, established by Isle of Anglesey County Council, for their practical
advice and support.

The letter of intent sees the formation of a jointly owned special purpose
vehicle (SPV) with the purpose of having the Parys Mountain site be the first
commercial deployment of the High Density Hydro System. Anglesey Mining and
RheEnergise have agreed to deploy resources into the SPV: financial, time,
material, leases over land and IP and also to conduct a feasibility study over
the project. If, as is expected, the study concludes that the project should
go ahead, RheEnergise and Anglesey Mining will use their best endeavors to
bring the Project to fruition.

Background

Anglesey Mining is focused on delivering a polymetallic underground mine at
Parys Mountain. To that end, Anglesey Mining’s management is developing
strategies to enable investment in the development of Parys Mountain to be
incremental so far as practicable, thus allowing risks to be mitigated in
stages before considering options for the next step of development.

 

A Pre-feasibility study (PFS) in the energy storage scheme is underway and
part of that work has fed into a new illustrated presentation which provides
potential investors with detailed information on the methodology and revenue
streams associated with the proposed project in terms of both Long Duration
Energy Storge (LDES) and how that might be the catalyst for the commencement
of mining of the Parys Mountain VMS mineral deposits. The presentation can be
viewed via this link: Parys HD Hydro Investor Presentation.pdf
(https://www.angleseymining.co.uk/wp-content/uploads/2025/07/Parys-HD-Hydro-Investor-Presentation.pdf)

It remains an essential and clear intent of this project that Anglesey Mining
retains all the optionality that it currently has for the construction and
commissioning of an underground mine.  Also, that the hydro energy pumped
storage project should not detract from those options over the medium and long
term.

“ The signing of this Letter of Intent is an important next step in this
project for both companies involved,” said Rob Marsden, Chief Executive of
Anglesey Mining. “We are excited by the potential and synergies that this
project brings together at many levels. Anglesey Mining is focused on
delivering a polymetallic underground mine at Parys Mountain. Securing a
source of consistent green power on Anglesey and establishing a presence back
underground at Parys Mountain is key to the strategy of de-risking the
incremental development of the mine and furtherance of the UK’s green power
ambitions.”

Parys Mountain is the UK’s most advanced project for the primary mining of
copper, lead, silver and zinc, which is on the Government’s critical
minerals list.

 

For further information on the project:

RheEnergise  -  www.rheenergise.com / LinkedIn @rheenergise

Stephen Crosher, Chief Executive: sc@rheenergise.com

Philippa Rogers, Communications Manager: 07971 269559 / pr@rheenergise.com

 

Anglesey Mining plc - www.angleseymining.co.uk

Rob Marsden, CEO: 07531 475111 / rob.marsden@angleseymining.co.uk

 

About Anglesey Mining plc:

Anglesey Mining is traded on the AIM market of the London Stock Exchange and
currently has 484,822,255 ordinary shares in issue.

Anglesey Mining is developing the 100% owned Parys Mountain Cu-Zn-Pb-Ag-Au VMS
deposit in North Wales, UK with a reported resource of 5.3 million tonnes at
over 4.0% combined base metals in the Measured and Indicated categories and
10.8 million tonnes at over 2.5% combined base metals in the Inferred
category.

Anglesey Mining also holds a 49.8% interest in the Grängesberg iron ore
project in Sweden. Plus an 11.9% interest of Labrador Iron Mines Holdings
Limited which, through its 52% owned subsidiaries, is engaged in the
exploration and development of direct shipping iron ore deposits in Labrador
and Quebec.

Contact details for further information about Anglesey Mining plc:

Anglesey Mining plc

Rob Marsden, Chief Executive Officer – Tel: +44 (0)7531 475111

Andrew King, Chairman – Tel: +44 (0)7825 963700

Davy

Nominated Adviser & Joint Corporate Broker

Brian Garrahy / Daragh O’Reilly – Tel: +353 1 679 6363

Zeus Capital Limited

Joint Corporate Broker

Katy Mitchell / Harry Ansell – Tel: +44 (0)161 831 1512

LEI: 213800X8BO8EK2B4HQ71

 

 

 

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