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Market: LSE
Sector: General Mining - Iron Ore and Bauxite
EPIC: AYM
Latest Price: 2.88p  (0,00%)
52-week High: 9.75p
52-week Low: 2.88p
Market Cap: 4.63M
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Anglesey Mining plc
www.angleseymining.co.uk
Deal Anglesey Mining plc Tax Free* Losses can exceed
your initial deposit
*subject to change and depends on individual circumstances.

 

15.3% of Labrador Iron Mines in Canada

100% of Parys Mountain in Wales

Anglesey holds 15.3% of Toronto-listed Labrador Iron Mines Holdings Limited (TSX:LIM) which is producing high grade hematite from its James pit, one of LIM’s twenty direct shipping iron ore deposits in western Labrador and north-eastern Quebec. Production is...

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Anglesey Mining associate confirms C$25.2mln equity financing

January 21 2013, 7:40am LIM intends to use the net proceeds from the offering to fund pre-stripping, mining, and processing costs, including payments to its mining contractors, and transport costs

 

Anglesey Mining’s (LON:AYM) associate company Labrador Iron Mines (TSE:LIR) confirmed today its C$25.2 mln equity offering announced last week.

It will be underwritten by a syndicate led by Canaccord Genuity, Anglesey revealed in a statement.

As reported last week, LIM will issue the units at C$1.05 each. Each unit consists of one common Labrador share and half of a common share purchase warrant; a full warrant will entitle the holder to buy a Labrador common share at a price of C$1.35 any time up to 36 months after the share offer closes.

LIM has also granted the underwriters an over-allotment option to purchase up to 3.6 mln additional units, exercisable at any time up to 30 days after and including the closing of the offering, to raise up to C$3.78 mln, it said.

LIM intends to use the net proceeds from the offering to fund pre-stripping, mining, and processing costs, including payments to its mining contractors, and transport costs.

The funds will also cover infrastructure expenditures on the Silver Yards processing plant, including the connection to hydro power.

Anglesey holds 19.7% of Toronto-listed Labrador Iron Mines Holdings (LIM) which is producing high grade hematite from its James pit, one of LIM's twenty direct shipping iron ore deposits in western Labrador and north-eastern Quebec.

 

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