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03 February 2010
Angel Mining plc (the "Company")
AIM: ANGM
The Company announces that it has raised £175,000 through the issue of 2,958,392 new ordinary shares of 1p each in the Company (“Ordinary Shares”) at approximately 5.92p per share under the terms of the Standby Equity Distribution Agreement announced on 27 April, 2009.
Application will be made for the admission of 2,958,392 new Ordinary Shares to be admitted to trading on AIM. It is expected that admission will become effective and that dealings will commence on 9 February, 2010. On admission, the Company will have 297,488,944 Ordinary Shares in issue.
For further information please contact:
21 January 2010
Angel Mining plc (the "Company")
AIM: ANGM
NALUNAQ GOLD MINE
- Permit received for construction and operation of the gravity process plant
- Agreements confirmed for transporting and refining doré bars
- Foundations and preparatory work completed
- All gravity plant components are on site and construction is well underway
BLACK ANGEL MINE
- Lower Cable Car terminal completed
- Construction work to recommence in Spring 2010
2009 was a transformational year for the Company. The acquisition of the Nalunaq gold mine (“Nalunaq”) in Greenland, as first announced on 1 July 2009, has accelerated the point at which the Company will be cash generative as production is now imminent. Permitting by the Greenlandic authorities is well progressed and the export licence should be granted by the time the first doré bars are available for transfer to the refiner.
The carbon in pulp (CIP) part of the plant will be constructed during February and, subject to the granting of the required permit, should be operational before the end of March.
At the Black Angel Mine (“Black Angel”) the Company has completed the construction of the lower cable car terminal and work will recommence in the Spring to construct the upper terminal, and the infrastructure for the mineral process plant. In addition work will advance on expanding the existing project camp. Photographs are available for viewing on the website www.angelmining.com. Subject to the availability of finance, the Company plans to build the cable car, underground processing plant and extend the camp during 2010 in order that production can commence in early 2011.
Further announcements and updates on the Company’s operations will be provided when appropriate.
Angel Mining CEO Nicholas Hall commented –
“Much was achieved in 2009 but 2010 presents new challenges and opportunities. Raising the funding for the Black Angel will be helped by cash being generated at Nalunaq and the much improved commodity prices. I expect the cash cost of production at both Nalunaq and Black Angel to be less than 50% of current market prices."
“Management looks forward to continuing the progress made by the Company over the last twelve months as it looks to further develop its mining operations.”
14 January 2010
Angel Mining plc (the "Company")
AIM: ANGM
For the purposes of the Financial Services Authority’s Disclosure and Transparency Rules, the total number of ordinary shares of 1p each in the capital of the Company in issue as at the date of this notice is 294,530,552 with each share carrying the right to one vote.
In addition, following the general meeting of the Company on 21 August, 2009, the Company also has one B Share of £1 in issue which carries 577,275,625 voting rights in the Company.
There are no shares held in treasury.
Therefore, the total number of voting rights in the Company is 871,806,177.
The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.
For further information please contact:
24 December 2009
Angel Mining plc (the "Company")
AIM: ANGM
The Company announces that it has entered into an agreement for the sale of GRL, a wholly owned subsidiary, which has the exploration licence for the rare earth project in Southern Greenland, known as Motzfeldt.
An Australian private group has formed a new company, Greenland Resources Holdings Pty Limited, which has purchased 49% of GRL for the sum of A$50,000, in cash, and has entered into a put and call option for a further A$1,000 to acquire the remaining shares for A$10.
The sale is subject to the approval of the Greenlandic government.
GRL has liabilities of DKK 2,510,948 relating to an under spend on exploration commitments during 2008 and 2009. The Australian group has advanced A$390,000, to GRL, to fund exploration activity.
CEO
Nicholas Hall commented –
“This opportunity to sell Greenland Resources Ltd. enables the Company to avoid the liability of exploration under spend, which could amount to US$500,000, at current exchange rates. Cash is needed for the development of the Nalunaq gold mine and the Black Angel zinc/lead mine. The Motzfeldt project has interesting long term potential but will require significant investment before it could become a viable mining proposition. This is a further step towards the Company becoming totally focused on developing high quality mining projects.”
For further information please contact:
30 November 2009
Angel Mining plc (the "Company")
AIM: ANGM
The Company announces
that it received notification today that on 26 November and 27
November Frank Chapman, Non-executive Chairman, acquired, in
aggregate, 300,000 ordinary shares of 1p each in the Company
(“Ordinary Shares”) at 5p per share. Following this acquisition,
Frank Chapman is interested in a total of 3,840,000 Ordinary Shares,
which includes 2,500,000 Ordinary Shares held via the Company’s
Joint Ownership Share Plan and 40,000 Ordinary Shares in his
discretionary pension account. This combined holding represents
approximately 1.30 per cent. of the current issued share capital of
the Company.
For further information please contact:
26 November 2009
Angel Mining plc (the "Company")
AIM: ANGM
The Company announces
that pursuant to the commencement of a Joint Ownership Share Plan
(“JSOP”) the following directors of the Company have acquired an
interest in new ordinary shares of 1p each in the Company (“Ordinary
Shares”), which they hold jointly with an Employee Benefit Trust.
Under these arrangements, each participant will benefit from growth
in value of an Ordinary Share above 5.89p per share:
In total, the Company has issued 31,000,000 new Ordinary Shares pursuant to the JSOP. Application has been made for these shares to be admitted to trading on AIM and dealings are expected to commence on 2 December, 2009. On admission, the Company will have 294,530,552 shares in issue.
Nicholas Hall, CEO commented;
“The JSOP is a tax efficient alternative to an unapproved share option scheme. As the Company completes the transition from being a minerals exploration business to a mining company the board believes that this is the right time to incentivise the new team with an effective equity scheme, linked to growth in share value”.
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