The following is from Anglesey Mining plc's 2007 annual report -...

The following is from Anglesey Mining plc's 2007 annual report - suggesting "that the White Rock mine at Parys Mountain should be in production
in 12 to18 months from commencement of the decline development". Decline commenced late 2007......all good

Parys Mountain – copper-zinc-lead-silver-gold
Following the successful Garth Daniel drilling programme in the previous financial
year, we conducted a review of the development alternatives for Parys Mountain and
as a result carried out a detailed drilling programme in the White Rock area during the
year with successful results. A JORC-compliant resource estimate of the White Rock
area resulting from this and earlier drilling was published at the beginning of 2007.
The results of this programme met all our expectations and have led us to develop a
fundamental change to the development plan for the Parys Mountain Mine. We now
intend to mine White Rock using decline access as Phase I of the production plan.
This will minimise the initial capital and will accelerate the time scale to first
production. The positive cash generated from White Rock will be utilised for Parys
Mountain Phase II.
We commissioned a Scoping Study from Micon International Co Limited, published
in July 2007, on the development and production plan for White Rock. The study
confirms that a viable five year operation could be conducted on White Rock alone
and would create the necessary positive cash-flow, including all the costs of a 500
tonnes per day processing plant.
In Phase II the treatment capacity of the processing plant will be expanded and the
existing shaft, head-frame and winder will be refurbished and connected to the
decline. This will enable expanded production from the larger and higher grade
Engine Zone to commence coincident with the end of White Rock production. In
Anglesey Mining plc 3
Phase III we will extend the mine to the east into the Garth Daniel and deep Engine
zone areas, potentially with a further increase in production rate.
We have now commenced preparatory work ahead of driving the White Rock decline
and expect that excavation activities will commence prior to the end of 2007. The
capital cost of the development of White Rock is estimated at £15 million and we are
in discussions on the alternatives for raising this financing.
The Parys Mountain project benefits from existing valid planning permissions for the
planned operations; from the high level of infrastructure already in place; from the
extensive exploration and planning work that has been carried out in the past; from
strong local and national government support; and from continuing strength in all the
commodities that we will produce. Given these benefits and the revised development
plan, we believe that the White Rock mine at Parys Mountain should be in production
in 12 to18 months from commencement of the decline development.