Anglesey Mining (AIM:AYM) has appointed Andrew Fulton as chief executive as it advances exploration at the 100% owned Parys Mountain Cu‑Zn‑Pb‑Ag‑Au VMS project in North Wales.
The company said the initial phase of a drone-operated aero-magnetics programme has been completed with "very encouraging" anomalies and that it has engaged Satellite Applications Catapult to carry out an eight-week geo-spatial analysis that will incorporate the aero-magnetic data to help delineate targets for ground follow-up.
Since December the board has been reorganised and the company completed a capital restructuring that included Energold Minerals exercising warrants for £350,000 on 11 December, a £680,000 placing at 6p on 9 March, and the elimination of £4m of debt on 25 February in return for other holdings, leaving only c.£100,000 of debt.
"We are essentially debt-free for the first time in a very long time, and maximum emphasis will now be placed on disseminating pertinent news out promptly to bring Anglesey to the forefront of the local and investor community," said Jim Williams, Executive Chairman.
The company said the Catapult geo-spatial work is expected to conclude within eight weeks and will guide prioritisation of cost‑effective ground-based exploration.
