Anglesey Mining eyes possible sale of Parys Mountain

Anglesey Mining gained as much as 8% this morning, before falling back to its overnight closing level, after announcing new drilling at its 100% owned Parys Mountain site in North Wales.

The company says it will initially drill 4 holes to assess the remaining copper, zinc and lead resources at the site. A further six to eight holes may also be dug depending on the initial results.

Anglesey wants to prove there are sufficient resources at shallow depths. If there are it could lead to further development of the site.

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The company also confirms in today's release that it is considering "the various commercial options available to enhance the value of Parys Mountain for shareholders".

This implies that a sale is possible.

Over the past 12 months Anglesey shares have fallen by 51%.

BS