TIDMAYM 
 
Trading Symbol 
 
                                                                       LSE: AYM 
 
8 October 2021 
 
                              Anglesey Mining plc 
 
                         ("Anglesey" or "the Company") 
 
            Additional funding secured and work programmes approved 
 
Anglesey Mining plc (LSE:AYM), the UK minerals exploration and development 
company, is pleased to announce the successful completion of a placing of 
shares and the commencement of the next work programmes at both the Parys 
Mountain Cu-Zn-Pb-Ag-Au project on the isle of Anglesey and the Grängesberg 
Iron Ore Project in Sweden. 
 
Highlights 
 
  * Fund raising secures additional £768,230 via issuance of 22,595,000 shares 
    at a price of 3.4p, a discount of 5.6% to the closing price on 7 October 
    2021 (being the latest practicable date prior to this announcement) 
  * CEO Jo Battershill subscribes for 1,565,588 shares at the placing price as 
    part of the fundraising 
  * Funds to be used to assist with work approved by the Board of Anglesey 
    including: 
      + Appointment of drilling contractor to complete infill programme at 
        Parys Mountain, with the rig expected to mobilise in the next 3-4 weeks 
      + Commencement of environmental studies at Parys Mountain as a 
        requirement for the permitting process; and, 
      + Commencement of the Preliminary Economic Assessment (PEA) of the 
        Grängesberg project 
 
Jo Battershill, the CEO of Anglesey Mining, commented: "I am very pleased with 
the funding for a number of reasons. Firstly, the strong demand demonstrates a 
genuine investor interest in seeing the Parys Mountain and Grängesberg projects 
advanced through to their next stages of development. Secondly, it has provided 
me with an opportunity to align myself with shareholders to participate in the 
equity upside that I believe is achievable with Anglesey Mining and finally it 
provides an additional level of comfort from a working capital perspective. I 
would also like to welcome the new shareholders, which include mining funds and 
HNWI's, to the Anglesey Mining register. 
 
On the projects, I am incredibly excited to be able to get the drills turning 
again at Parys Mountain. The initial infill programme will enable us to convert 
the remaining portions of the White Rock Zone into the higher confidence 
Indicated Resource category and provide important geotechnical and 
metallurgical data, which will provide critical information feeding into the 
Feasibility Study in 2022. 
 
For Grängesberg, we are pleased to appoint Micon International to complete the 
PEA, which I believe will demonstrate just how significant that opportunity 
could become." 
 
Placing of 22.6 million new shares for £768,230 
 
Anglesey Mining plc entered into subscription agreements with certain 
sophisticated investors (including Jo Battershill) and Monecor (London) 
Limited, trading as ETX Capital, to issue 22,595,000 new ordinary shares 
 representing approximately 10.0% of the company's current issued share 
capital, at 3.4 pence per share to raise a total of £768,230 gross. The placing 
price represents a discount of 5.6% to the closing price on 7 October 2021 
(being the latest practicable date prior to this announcement). 
 
As part of the subscription, Jo Battershill, the Chief Executive Officer of the 
company, has subscribed for 1,565,588 new ordinary shares at the placing price 
of 3.4 pence. 
 
Application will be made for these shares to be admitted to listing on the 
London Stock Exchange. 
 
Proposed use of funds 
 
The proceeds of the issue will be used for the following activities: 
 
  * Continue the development of the group's Parys Mountain property with 
    activities to include: 
      + Infill drilling on the White Rock Zone, along with some additional 
        geotechnical holes 
      + Collecting metallurgical testwork samples for both the White Rock Zone 
        and Engine Zone 
      + Commencement of the environmental baseline studies 
  * Commence the Grängesberg Iron Ore Project Preliminary Economic Assessment 
    (PEA) 
      + Anglesey has formally engaged Micon International to conduct the PEA, 
        which is expected to take around 3-months to complete 
  * General group working capital. 
 
Chief Executive Officer participation in the subscription 
 
The table below provides the details of the Chief Executive Officer's 
participation in the subscription. 
 
    Name       Existing     Number of    Resultant    Resultant 
               Holding        shares      Holding  Shareholding on 
                          subscribed for            Admission (%) 
 
Jo              22,971      1,565,588    1,588,559      0.64% 
Battershill1 
 
1 Subscription shares subscribed for by JJB Advisory Limited a company 
controlled by Jo Battershill 
 
Smaller related party transaction 
 
Jo Battershill as a director of the company is a related party for the purpose 
of the United Kingdom Listing Rules (the "Listing Rules").  Jo Battershill 
through JJB Advisory Limited, a company controlled by him, has subscribed for 
1,565,588 ordinary shares with a value of £53,230. This subscription by Jo 
Battershill constitutes a smaller related party transaction for the purposes of 
Listing Rule 11.1.10R and this announcement is therefore made in accordance 
with Listing Rule 11.1.10R(2)(c). 
 
Total Voting Rights 
 
Following completion of this issue and admission to listing, the issued 
ordinary share capital of the company will be 248,070,732 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. 
 
About Anglesey Mining plc 
 
 
Anglesey is developing its 100% owned Parys Mountain copper-zinc-lead deposit 
in North Wales, UK with a 2020 reported resource of 5.2 million tonnes at 4.3% 
combined base metals in the Indicated category and 11.7 million tonnes at 2.8% 
combined base metals in the Inferred category. 
 
Anglesey holds an almost 20% 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. 
 
This announcement contains inside information as defined under the Market Abuse 
Regulation (EU NO. 596/2014) as it forms part of UK domestic law by virtue of 
the European Union (Withdrawal) Act 2018 ("UK MAR") 
 
For further information, please contact: 
 
Jo Battershill, CEO +44 (0)7540 366000 
 
John Kearney, Chairman + 1 416 362 6686 
 
LEI: 213800X8BO8EK2B4HQ71 
 
 
 
END

(END) Dow Jones Newswires

October 08, 2021 02:00 ET (06:00 GMT)

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