28 July 2011 – final results
With no revenue, normal metrics are not a particularly useful indicator of performance at Anglesey Mining. The market value of the group’s 33% holding in Labrador Iron Mines Holdings Limited, which is listed in Canada, as at 31 March 2011 was £156m compared with £75m at the same date in 2010. As at 19 July 2011 this value was £129m, equivalent to 81p per Anglesey Mining share. The first of Labrador Iron Mines’ iron ore deposits has now been brought into production and the company is moving towards becoming a significant producer. BUY.