Interim Results - 6 Months to 30 September 1999

Anglesey Mining PLC
21 December 1999


Interim Report to Shareholders

Our activities over the period since 1 April have been limited by available
funds for the development of the Dolaucothi and Parys Mountain projects.
Nevertheless work has continued on geological and scientific studies at Parys
Mountain and further drilling of two holes at Dolaucothi has resulted in four
small gold intersections. 

Financial

The loss for the half year was £91,000, up on the corresponding period last
year because of an increased amount of expenditure on the review and
evaluation of new opportunities and because of higher interest charges.
Expenditures on mineral development at Parys and Dolaucothi properties were
£45,000 compared to £184,000 in 1998 when drilling was taking place at Parys
Mountain. These development expenses are capitalised, in accordance with the
company's accounting policy.

Juno has continued to support the company in these difficult times and a
further extension to the working capital agreement has been arranged.

Parys Mountain 

The company has concentrated its efforts on geological and scientific studies
with limited field work. We continue to be encouraged by the results of this
extensive examination of data however the planned drilling programme of 10,000
metres in 10 to 15 holes cannot commence until appropriate finance is
available.

There has been a significant rise the price of zinc over the past year. In
fact the increase from the low point of 41 cents to the high of 55 US cents
per pound is 34%. This is encouraging and there are some firm signs that
further increases are likely. 

Zinc would provide over half of the revenues from the probable reserves at
Parys Mountain with the balance coming from copper, lead, silver and gold, in
that order. A sustained higher price for zinc would greatly assist our efforts
to obtain finance for the planned drilling programme.

Dolaucothi

During the period hole M13 was deepened to a depth of 132m. As described in
the annual report, this hole had already intersected gold at 40m below
surface, with grades of 3.48 grams over 2.53m and within that, 6.50 grams over
0.95m. In the extension of this hole two further small intersections with
mineralised material were noted. These have not yet been assayed.
Hole M14 was drilled to a depth of 49m at an inclination of 76 degrees from
the horizontal. Two small mineralised intersections were made which also have
not yet been assayed. These appear to represent the down dip continuation of
intersections in M12 and M13. 

This cluster of intersections between 30m and 40m in M12, M13 and M14 appear
to be spatially related to a small anticlinal fold within the recently
identified zone of deformation.  The geometry of this fold is similar to the
geometry of the fold with which the Roman Lode is associated and highlights a
possible association between anticlinal fold axes and mineralisation at
Dolaucothi. 

It is planned to deepen hole M14 to a depth of 115m.

New projects

During the period we carried out an evaluation of a zinc opportunity in
Ireland. That property continues to be the subject of legal action and while
the opportunity will be monitored no immediate action is anticipated. We
continue to work on several other new projects and hope to make progress in
respect of at least one of these matters within three months.

On behalf of the board of directors

John F Kearney
Chairman
21 December 1998


Unaudited Consolidated Profit and Loss Account
                                         Six months to       Six months to
                                     30 September 1999   30 September 1998
                                                  £                    £
Turnover                                          -                    -
Net operating expenses
       - continuing operations                  66,629              50,962
Interest receivable                               -                   (861)
Interest payable                                24,495               8,787

Loss on ordinary activities
         before and after taxation              91,124              58,888

Loss per share - basic                       0.1 pence           0.1 pence
Loss per share - fully diluted               0.1 pence           0.1 pence

No dividend is proposed.  
There are no minority interests or extraordinary items.


Unaudited Consolidated Balance Sheet
                                                 30 September     30 September
                                                       1999            1998
Fixed assets                                            £                £
       Intangible assets                           12,057,365      11,989,437
       Tangible assets                                186,418         186,905
       Total fixed assets                          12,243,783      12,176,342
Current assets
       Debtors                                        107,506         103,431
       Cash                                              -                 -
       Total current assets                           107,506         103,431
Current liabilities  (note 1)
       Creditors - amounts due
                within one year                     (621,546)        (420,251)
       Net current (liabilities)/assets             (514,040)        (316,820)

Net assets                                        11,729,743       11,859,522


Shareholders' funds
       Share capital                               6,607,693        6,593,371
       Share premium                               5,737,746        5,738,146
       Profit & loss account - deficit              (615,696)        (471,995)
                     
Total shareholders' funds                         11,729,743       11,859,522

       Equity shareholders' funds                 10,868,565       10,998,344
       Non equity shareholders' funds                861,178          861,178

Notes : -

1       Current liabilities include £559,478 due to Juno Limited, the ultimate
parent company.

2       The half year figures are unaudited.  The profit and loss account and
the balance sheet have been prepared on a basis consistent with that of the
accounts for the year ended 31 March 1999.  The auditors' report on those
accounts was not qualified and did not contain a statement under section 237
of the Companies Act 1985.
      
3       This interim statement is being posted to all shareholders and copies
are available on request from the company's registered office.


Contacts:

Ian Cuthbertson        John F. Kearney
Finance Director       Chairman
01248 361333           001 416 362 6686