Anglesey Mining plc has agreed equity financing for up to £2 million with Miami-based investment fund Alumni Capital Ltd, conditional on a twenty-into-one share consolidation.
UNCERTAINTY
The £2m would support negotiations with third-party funders for a pumped hydro energy storage scheme at the company’s Parys Mountain polymetal project, and generating cash flow.
As at 31 August 2025, Anglesey had unaudited cash and cash equivalents of £26,271.
“As a result, the board now anticipates a significant challenge managing working capital over the next 12 months, and the board recognises that there will be material uncertainty over the going concern status of the company if it is unable to avail of the proposed equity financing facility,” said the company.
“Therefore, shareholders should be aware of the material uncertainty surrounding the potential need for additional funding to remain a going concern and the associated risks involved, including the ability to successfully execute on such initiatives.
“The company will continue to actively monitor and assess its financial position.”
Shareholders will vote on the financing and share reduction on 23 October 2025.
INVESTORS
Alumni Capital Management describes itself as an “alternative investment fund specialising in opportunistic, event-driven strategies in small-cap equities worldwide, with an emphasis in the United States, UK, EU, Canada, and Australia”.
Under the financing terms, Alumni would also receive one warrant share for every two new ordinary shares subscribed.
As at 25 September 2025, Anglesey had in issue 484,822,255 ordinary shares, each of one pence, which would reduce to 24,241,113 on shareholder approval.
Current major shareholders comprise Energold Minerals Inc. with 108,711,110 shares, representing 22.5% of the voting rights, and Roslagen Resources AB which owns 14,544,827 shares, equal to 3% of the voting rights.
Anglesey directors hold an aggregate 3,251,103 existing ordinary shares (0.67%).
Incorporated in September 1984, Anglesey began trading in May 1988.