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 […]
Tag: RheEnergise
Anglesey mulls asset sale to focus on Parys
Anglesey Mining plc’s lack of funds could see the sale of one of its interests to focus more on its flagship Parys Mountain polymetal project on the island. GOAL The company has an 11.9% holding in Labrador Iron Mines Holdings Ltd (LIMH), exploring in the central Labrador Trough in the Menihek area of Newfoundland and […]
Anglesey mulls hydro energy storage for Parys
Anglesey Mining plc is considering hydro energy storage from a partner provider to support production from the underground polymetallic mine at Parys Mountain in North Wales. NON-CAVING A conceptual study for RheEnergise’s innovative High-Density Hydro® (HD Hydro) energy storage technology would use the former underground workings and the Morris shaft, excavated in 1989. Anglesey said […]