Parys mountain holds promise in a segment of the stock market where there are very few other promising copper development stories, according to Ambrian.
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26% of Labrador Iron Mines in Canada
100% of Parys Mountain in Wales
Anglesey holds 26% of Toronto-listed Labrador Iron Mines Holdings Limited (TSX:LIM) which is now producing iron ore from its James deposit, one of LIM’s twenty direct shipping iron ore deposits in western Labrador and north-eastern Quebec. Development of other deposits is underway and production of the high grade hematite iron ore is targeted to grow from 2Mt in 2012 to 5Mt in 2015.
LIM’s properties are part of the Schefferville area iron ore district in the Labrador Trough where the Iron Ore Company of Canada mined from 1954 to 1982. See the Labrador Iron Mines website for further details.
Anglesey is also carrying out development and exploration work at its 100% owned Parys Mountain zinc-copper-lead deposit in North Wales, UK where there is estimated to be a total historical resource in excess of 7 million tonnes at over 9% combined copper, lead and zinc.
Anglesey owns 17.8m LIM shares (26%) and has 158m of its own shares in issue.
11/01/12
Parys mountain holds promise in a segment of the stock market where there are very few other promising copper development stories, according to Ambrian.
16/08/11
Anglesey's associate Labrador Iron Mines has now put in place a deal, with Rio Tinto's Canadian iron business, to transport and sell LIM’s iron ore into Asian markets. With this final logistical hurdle now cleared Ambrian's Nick Mellor reckons Anglesey shares are due a rebound.
01/07/11
Broker Ambrian said today it will begin coverage on Anglesey Mining, which holds a 33 percent stake in Labrador Iron Mines, and described the firm as in an "extremely robust" financial position.
18/03/11
Events at the Schefferville iron ore projects have helped transform both Anglesey’s prospects and its share price, which has enjoyed a near four-fold increase since the summer months of 2010. Against the backdrop of stronger equity markets and commodity prices, LIM has made swift progress as it fast tracks the first mine to commercial production next month.
03/09/10
Anglesey Mining is buoyant after its 41% owned associate clears the way for the further development of its iron ore projects.
10/08/06