Anglesey Mining Enters Deals to Cut GBP4 Million Debt

05:17 AM EST, 12/05/2025 (MT Newswires) -- Anglesey Mining (AYM.L) said Friday it signed a binding letter of intent for debt settlement and an investment from Energold Minerals, its largest shareholder and creditor. Under the settlement deal, Anglesey will transfer its interests in Grängesberg Iron AB, owner of the rights to the Grängesberg iron ore deposits in Sweden, and its stake in Canada's Labrador Iron Mines Holdings Ltd. The Grängesberg stake transaction is subject to approval by Swedish authorities, after which the parties' Juno investment deal from 2022 will be canceled. Upon completion, the AIM-listed minerals developer expects its outstanding debt to fall to 100,000 pounds from 4.1 million pounds. Energold also agreed to invest 350,000 pounds by acquiring non-voting warrants that are exchangeable for new Anglesey shares on a one-for-one basis.