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Anglesey Mining’s chairman John Kearney says the fundamental outlook for base metals remains positive

Economic studies on Parys Mountain are currently in progress

Anglesey Mining PLC -

Anglesey Mining PLC (LON:AYM) lost £305,000 in the year to March, up slightly from the £234,000 lost in the corresponding period a year earlier.

The company ended the financial year with £95,000 in cash, although subsequent to the period end, in August, it raised £200,000 in a placing.

Anglesey’s focus during the period remained on the Parys Mountain copper-zinc project in Wales.

“Amidst the ongoing pandemic, we still believe that the medium to long term demand for metals is growing, especially as the world transitions to a low-carbon electric economy, and the fundamental outlook for all base metals, particularly for the metals that would be mined at Parys Mountain, remains positive,” said chairman John Kearney. 

“We expect this will be manifested once the inevitable economic stimulus measures and government infrastructure spending kick in.”

Quick facts: Anglesey Mining PLC

Price: 2.84 GBX

LSE:AYM
Market: LSE
Market Cap: £5.87 m
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