Alba Mineral Resources plc has acquired outstanding minority interests to complete its 100% ownership of the Amitsoq graphite and Melville Bay iron ore projects in Greenland. The acquisitions are a precursor to the spin-out of Alba’s Greenland projects into a new AIM-quoted company Listco. The transaction requires 100% ownership of all the Greenland projects to be delivered to Listco. […]
Tag: Alba Mineral Resources plc
Alba completes sale of Brockham oil interest
Alba Mineral Resources plc has completed the sale of its 5% interest in Brockham onshore oil field in Surrey to operator Angus Energy plc. The metals and minerals explorer said that the move was part of its drive to rationalise its non-core assets. In settlement of certain back costs and a contribution towards eventual abandonment […]
Alba to cut oil interests as losses rise
Alba Mineral Resources plc sid it planned to cut its onshore oil interests to focus on Clogau-St David’s gold mine in North Wales. HORSE HILL Results for year ended 30 November 2020 showed losses of £2,079,537 (2019: £1,312,40) while cash and equivalents increased to £1,512,031 (£211,333). Alba plans to reduce its investment in Horse Hill […]
Alba plans spin-out for Greenland assets
Alba Mineral Resources plc plans to create a spin-out focused on its mineral assets in Greenland. RATIONALE The company’s portfolio includes Amitsoq graphite, Thule Black Sands ilmenite, and Melville Bay iron ore. Alba is finishing preparations for 2021 summer drill programmes as it awaits lifting of travel restrictions due to Covid-19. The company ruled out […]
Alba checks waste rock dump for early gold revenue at Clogau
Alba Mineral Resources plc said it would soon start the evaluation pitting of the historic waste rock dump at the Clogau-St David’s gold mine in North Wales. PROGRAMME The dump, containing material derived from the internal development of the mine during past periods of production, is estimated to cover some 30,000 km2 (7/10th of an […]
Alba to restart exploration at lead-zinc project in Limerick
Alba Mineral Resources plc said it would restart exploration including drilling after it had identified three main target zones at its Limerick base metals project in Ireland. TARGETS A structural review showed three exploration target areas lie within PL3824, each with a number of structural and geological features found in zinc-lead deposits in the Irish […]