Anglesey Mining plc LSE:AYM
11 October 2007
Parys Mountain White Rock Progress Report
- Site work for new decline now commencing
The company is pleased to provide a progress report on its zinc-lead-copper
mining operations at Parys Mountain.
Preparatory work for the construction of the White Rock decline at Parys
Mountain is now gathering pace. Initial site clearing has been completed and
contracts for the site fencing and initial excavation of the box cut which leads
to the decline portal have been let; work on these tasks is expected to commence
within two weeks.
Mining engineering consultants Scott Wilson from Chesterfield have been engaged
to provide engineering design services in respect of the decline itself and are
expected to complete their initial plans within three weeks, including
specifications and contract documentation for the decline excavation.
Detailed discussions have been held with contractors for the excavation of the
decline and priced offers are expected within one month, with the intention of
commencing underground excavation at the start of January 2008.
Approval of the detailed plans for the decline box cut excavation and related
works, as required by the conditions of the company's existing and valid
planning permission granted in 1988, has been received from the Isle of Anglesey
County Council, the relevant mineral planning authority. This planning
permission, as is usual in cases of this type, contains conditions relating to
operations, such as vehicle wheel cleaning, glare from lighting, noise, blasting
vibration and haulage routes. It also contains conditions regulating the siting
of temporary and permanent buildings, fencing, landscaping and so on. Seeking
approval from the mineral planning authority for detailed aspects of the
company's plans and operations is an on-going process which will continue as
work progresses.
Discussions have been held with suitably qualified and experienced mining and
project personnel to manage the works and appointments are expected to be made
within the next six weeks. Subject to some additional financing no delays are
expected in mobilisation for the decline excavation and commencement of this
aspect of the works.
A detailed proposal for a bankable feasibility study on the White Rock project
has been received and it is anticipated that a contract will be awarded for this
work following some ongoing discussions.
Bill Hooley, chief executive, commented: "It is encouraging that we are now
commencing work on the White Rock decline. This represents a major new phase of
our activities at Parys Mountain after many years of suspended activity due to
low metal prices. We intend to press ahead with development of the mine without
delay."
For further details:
Bill Hooley, Chief executive +(44) 1492 541981
Ian Cuthbertson, Finance director +(44) 1248 361333
John F. Kearney, Chairman +(1) 416 362 6686
Parkgreen Communications +(44) 20 7851 7480