Highlights

• Anglesey Mining raises £1,250,000 by issuing 27,777,777 new shares at 4.5p through a placing and subscription.

• Each new share carries one Warrant exercisable at 6.75p for 36 months, worth £1.875m if fully exercised.

• Proceeds fund new drilling at Parys Mountain, mine development studies, consenting work and district exploration.

• Tavira Financial joins as joint corporate broker, while Executive Chair Jim Williams subscribes for £10,000 of shares.

No drill rig has turned at Parys Mountain since 2023. Anglesey Mining (LSE:AYM) plans to change that, announcing on 2 November 2026 a placing and subscription to raise £1,250,000 for a fresh drilling programme at its polymetallic project on the island of Anglesey. The money comes at 4.5p a share, with a warrant attached to every new share, and brings a new joint corporate broker onto the register of advisers.

Anglesey Mining fundraise: what was announced

The company is issuing 27,777,777 new ordinary shares at 4.5p each. The placing, arranged by Tavira Financial Limited, raises £1,185,000 through 26,333,333 shares. A direct subscription adds £65,000 through 1,444,444 shares, including £10,000 from Executive Chair Jim Williams, who is taking 222,222 shares.

Every new share comes with one warrant exercisable at 6.75p for 36 months. If all are exercised, the company would receive a further £1.875m. Tavira also receives 1,580,000 broker warrants at 4.5p for 36 months and has been appointed joint corporate broker with immediate effect.

Why Anglesey Mining is raising money now

The proceeds have three stated uses. The first is exploration drilling and further resource development, including targeted drilling to extend the Northern Copper Zone and the Garth Daniel Zone to the north-east and east. The second is mine development studies and consenting, moving towards pre-feasibility level work. The third is district exploration and working capital.

Williams said: "This will be the first drilling at Parys Mountain since 2023". The company describes Parys Mountain as already the UK's largest polymetallic project.

The raise follows a reshaped Leadership line-up. Anglesey announced a chief executive appointment on 26 May 2026 and a change of nominated adviser on 2 June, and Davy is now listed as nominated adviser and joint corporate broker alongside AlbR Capital. Williams opened his comments with: "The new management team continues to advance Parys Mountain".

Valuation claims and deal maths

Management says work this year has allowed it to upgrade its internal NPV calculations for Parys Mountain, based on the 2021 preliminary economic assessment. In the company's words: "A mid-case pricing scenario has now returned an NPV of £293m, which highlights the inherent value within the Company." This is an internal management figure, not an independent study.

After admission, the company will have 93,364,580 shares in issue, so the new shares will make up about 29.8% of the enlarged share capital. At the 4.5p issue price, that share count equates to roughly £4.2m. The announcement did not state the discount to the prevailing market price.

Dilution, warrants and open points

The shares are being issued on a non-pre-emptive basis under authority granted at the Annual General Meeting on 21 October 2026, so existing holders who did not take part will see their stake diluted. The warrant overhang adds a further 27,777,777 potential shares, plus the broker warrants.

This is the second fundraise of 2026, after a placing and subscription of approximately £680,000 in March. Taking the new shares away from the post-admission total implies 65,586,803 shares in issue before this raise.

What investors may watch next on AIM

Admission of the new shares to AIM is expected at 8.00am on or around 5 November 2026. After that, the first markers are the start of drilling, assay results from the Northern Copper Zone and Garth Daniel extensions, and progress towards pre-feasibility work. Warrant exercises, if they come, would bring further cash. For followers of AIM mining shares and the wider UK stock market, Anglesey Mining's next announcements on the drill programme will show what the fresh capital is delivering.