Business
Annual Financial Report
Annual Financial Report.
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n \nAnglesey Mining plc, a UK mining company \nProjects: \n100% ownership of the Parys Mountain underground copper-zinc-lead-silver-gold deposit in North Wales, UK where an independent Preliminary Economic Assessment announced in January 2021 showed:\n\na financial model for an expanded case at 3,000 tpd with a pre-tax NPV10% of US$120 million, (£96 million), 26% IRR and 12-year mine lifeDuring the year, Anglesey released an updated resource estimate of 1.3 million tonnes of Measured resources, 4.0 million tonnes of Indicated resources together with 11.7 million tonnes of Inferred resources \n \nA 49.7% interest in the Grängesberg Iron project in Sweden, up from 19.9% last year. Anglesey has management rights and a right of first refusal to increase the Group’s interest to 100%. At Grängesberg, an independent Pre-Feasibility Study announced on 19 July 2022 showed:\n\nProbable Ore Reserves of 82.4 million tonnes of supporting a 16-year mine life with annual production of 2.5 million tonnes of concentrate grading 70% iron ore\nPost-tax NPV8% of US$688 million with an IRR of 25.9% after tax \nA 12% shareholding in Labrador Iron Mines Holdings Limited which holds Direct Shipping Ore (DSO) deposits of iron in Canada where an independent Preliminary Economic Assessment of its Houston project published in March 2021 showed:\n\nPotential for production of 2 million dmt of DSO per year, with an initial 12-year mine life, for total production of 23.4 million dmt of product at 62.2% Fe over the life of the mine\nNPV8% CAD109 million at a conservative base case iron ore price with a 39% IRR and a 12-year mine life \n\nChairman's Letter \nTo Anglesey Shareholders \nThe past year has seen a continuation of global uncertainty generated by the ongoing conflict in Ukraine and other potential flashpoints. Globally, inflation has also remained stubbornly high leading to a ‘cost-of-living’ crisis in many countries across the world. Meanwhile, economic growth has been slow, even in China, which placed a cloud over metal prices.\nDespite the global macro uncertainty, very encouraging progress was made at both our Parys Mountain copper-zinc-lead-silver-gold project and our iron ore project in Sweden. While equity markets remained very challenging for junior companies, we successfully raised £865,000 in M...