RCS - Alba Mineral Resrcs. - GROC Update: Amitsoq, Virtual Presentation and Q&A

Alba Mineral ResourcesAnnouncement

15/05/2023 07:00

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RNS Number : 3344Z  Alba Mineral Resources PLC  15 May 2023

Alba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector: Mining

 

15 May 2023

Alba Mineral Resources Plc

("Alba" or the "Company") 

 

 

GROC Update

Amitsoq Update

Virtual Presentation and Q&A

 

Alba Mineral Resources Plc (AIM: ALBA) is pleased to note the RNS Reach today
by its portfolio company, GreenRoc Mining Plc ("GreenRoc") that it has awarded
the contract to undertake a formal Preliminary Economic Assessment ("PEA") for
its Amitsoq Graphite Project to SLR Consulting Limited.

 

In addition, GreeenRoc has also announced that it has established a wholly
owned Greenlandic registered subsidiary, Greenland Graphite a/s, to which the
two graphite mineral exploration licences (2013-06 and 2022-03) currently
owned by GreenRoc's subsidiary Obsidian Mining Ltd will be transferred,
pending approval by the Greenland Government. Under Greenland's mining
regulations, mining companies seeking to move to the exploitation phase of a
project must be incorporated in Greenland and Greenland Graphite a/s has
therefore been established for this purpose.

 

The GreenRoc announcement is set out below without material changes.

 

 

GreenRoc Mining Plc / EPIC: GROC / Market: AIM / Sector: Mining

 

15 May 2023

GreenRoc Mining plc

("GreenRoc" or the "Company")

 

Amitsoq Update

Virtual Presentation and Q&A

 

GreenRoc Mining plc (AIM: GROC), a company focused on the development of
critical mineral projects in Greenland, is pleased to announce that it has
awarded the contract to undertake a formal Preliminary Economic Assessment
("PEA") for its Amitsoq Graphite Project to SLR Consulting Limited ("SLR"), a
long-established UK consultancy with considerable expertise in the field of
mining and mineral processing, including in Greenland. SLR will commence work
on the PEA in May 2023 and it is expected to be completed by September 2023.
The completion of a PEA is an important step in the development of the Amitsoq
Project towards commercial production.

 

GreenRoc also today announces that it has established a wholly owned
Greenlandic registered subsidiary, Greenland Graphite a/s, to which the two
graphite mineral exploration licences (2013-06 and 2022-03) currently owned by
GreenRoc's subsidiary Obsidian Mining Ltd will be transferred, pending
approval by the Greenland Government. Under Greenland's mining regulations,
mining companies seeking to move to the exploitation phase of a project must
be incorporated in Greenland and Greenland Graphite a/s has therefore been
established for this purpose.

 

On 25th of May 2023 at 12:00am GMT Stefan Bernstein, CEO of GreenRoc, will
provide an update on the Company's recent progress in relation to the Amitsoq
Project via the Investor Meet Company platform, as well as answering questions
submitted by attendees. During the live presentation, he will provide more
detail on the commencement of the PEA, the processing of a graphite ore bulk
sample by UVR-FIA in Germany and his views on the EU's efforts to meet its own
raw material demands by reviving extractive industries in Europe.

 

This investor presentation is open to all existing and potential shareholders.
Questions can be submitted up until 9am on the day before the event via the
Investor Meet Company Dashboard, and at any time during it.

 

Investors can sign up to Investor Meet Company for free via this link.
(https://www.investormeetcompany.com/greenroc-mining-plc/register-investor)
Investors who already follow GreenRoc Mining plc on the Investor Meet Company
platform will be automatically invited.

 

GreenRoc's CEO, Stefan Bernstein, commented:

 

"The Preliminary Economic Assessment Study or PEA is the first of a series of
studies which will provide a detailed assessment of the technical aspects and
costs associated with the construction and operation of our Amitsoq mine and
processing plants. SLR, who we have appointed to carry out the PEA, is a
leading UK-based mining consulting firm with a great deal of relevant
experience and expertise. The undertaking of this important piece of work
represents the next major step forward for the Amitsoq Project. Upon its
completion, the PEA will provide an economic model to demonstrate the
profitability of the mining of graphite at Amitsoq. We look forward to sharing
its results with shareholders in due course.

 

"Establishing our Greenlandic registered subsidiary, Greenland Graphite a/s,
also represents another milestone for the Company. As well as satisfying
Greenlandic mining regulations which requires the formation of a Greenlandic
company prior to the commencement of any mining operations, Greenland Graphite
a/s will also enable the Company to access more easily EU funding programmes
in the field of critical raw materials, something the Company is currently
actively exploring.

 

"I very much look forward to providing investors with a more detailed update
and answering their questions on 25 May 2023 at 12pm via the Investor Meet
Company platform."

 

**ENDS**

 

 

For further information, please visit www.albamineralresources.com
(http://www.albamineralresources.com/)  or contact:  

Alba Mineral Resources Plc  

George Frangeskides, Executive Chairman
+44 20 3950 0725 

 SPARK Advisory Partners Limited (Nomad)   

Andrew Emmott  / Neil Baldwin
      +44 20 3368 3555 

CMC Markets plc (Broker)  

Thomas Smith / Douglas Crippen
  +44 20 3003 8632 

 St Brides Partners (Financial PR)  

Isabel de Salis / Catherine
Leftley
alba@stbridespartners.co.uk 

 

Alba's Projects and Investments

 Mining Projects Operated by Alba   Location   Ownership
 Clogau (gold)                      Wales      100%
 Dolgellau Gold Exploration (gold)  Wales      100%
 Gwynfynydd (gold)                  Wales      100%
 Investments Held by Alba           Location   Ownership
 GreenRoc Mining Plc (mining)       Greenland  44.7%
 Horse Hill (oil)                   England    11.765%

 

 

 

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