REG-Anglesey Mining PLC: Placing of new shares for £0.2 million

Anglesey MiningAnnouncement

29/04/2019 07:05

29th April 2019
                                                                  
LSE: AYM

Placing of New Shares for £0.2 million

Anglesey Mining plc is pleased to announce that it has today entered into a
placing agreement to issue 9,367,681 new ordinary shares, representing
approximately 5.3% of the company’s current issued share capital, at 2.135
pence per share in a placement to institutions, to raise a total of £200,000
gross and £180,000 net. The placing price represents a discount of
approximately 9.1 per cent. to the closing middle market price of 2.35 pence
per ordinary share at the close of business on 26 April 2019.

The proceeds of issue will be used for project development of its 100% owned
Parys Mountain zinc-copper-lead deposit in North Wales, UK and for general
working capital. 

The Parys Mountain property is a significant zinc, copper and lead deposit
with small amounts of silver and gold, with a reported a resource of 2.1
million tonnes at 6.9% combined base metals in the indicated category and 4.1
million tonnes at 5.0% combined base metals in the inferred category. An
Optimisation Study on the Parys Mountain Project is currently being prepared
by QME Mine Engineering Services and this is expected to be completed by the
middle of the current year.

The directors have authorised the proposed issue of the new shares under the
dispensation approved at the last AGM on 20th September 2018.  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. The
transaction is conditional on the admission of the new ordinary shares to the
Official List and to trading on the London Stock Exchange’s main market.

Application will be made for these shares to be admitted to both the Official
List and to trading on the London Stock Exchange’s main market for listed
securities and it is expected that such admission will become effective and
dealings will commence on or after 14th May 2019.

Following the allotment of these new ordinary shares becoming unconditional,
the issued ordinary share capital of the company will be 186,975,732 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.

Bill Hooley, CEO, stated “We are very pleased to announce this financing,
which represents significant support for Anglesey Mining, and we look forward
to completion of the optimisation study and to expedite development of the
Parys Mountain project.”

About Anglesey Mining plc

Anglesey is carrying out development and exploration work at its 100% owned
Parys Mountain zinc-copper-lead deposit in North Wales, UK with a reported
resource of 2.1 million tonnes at 6.9% combined base metals in the indicated
category and 4.1 million tonnes at 5.0% combined base metals in the inferred
category

Anglesey holds an 8.7% 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%.

Anglesey also holds 12% of Labrador Iron Mines Holdings Limited which holds
direct shipping iron ore deposits in Labrador and Quebec.

For further information, please contact:
Bill Hooley, Chief Executive +44 (0)7785-572517
Danesh Varma, Finance Director +44 (0)7740-932766
Elliot Hance, SVS Securities+44 (0)203-7000078



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