4273 days ago
Shares in fully listed mining group Anglesey (LSE:LIM) have bounced sharply to 9.375p, valuing it at £15 million, on the back of news that TSX listed Labrador Iron Mines in which it holds a 15% stake has signed a link up with Indian giant Tata. LIM’s shares have bounced on the move to 75 cents valuing the Anglesey holding at just over £9 million. So is this the start of a big rebound.
4344 days ago
The price of a tonne of iron has raced ahead from lows of $86.50 in September to reach $145.50 in Asian trade this week. Why has this happened? Will it last? And how to play it? Let’s start with the easy one… China.
4344 days ago
Suddenly the price of Iron ore has picked up, spurred by a recovery in Chinese Demand. Iron ore stocks have responded with a number showing sharp gains in the past month. Among the winners is Anglesey Mining (AYM) but also Bellzone (BZM) which has assisted its cause with news on both of its projects in the West African country of Guinea. The Bellzone share price has pushed ahead by 3p to 16p over the past month valuing the company at £117 million but some brokers reckon that it could still double from mere. There is a bear case as well as a bull case.
