27 April 2011 – Labrador Iron fund raising

Anglesey Mining’s 33% owned associate, Labrador Iron Mines, has confirmed that it has completed a C$110m fundraising.  The proceeds will be used to upgrade and expand its Silver Yards plant and also to fund the exploration and development of mineral projects.  Anglesey did not participate in the fundraising so its interest in Labrador has dropped to 33% from 41%.  The shares have dropped back recently and now look ATTRACTIVE.