REG - Alba Mineral Resrcs. - Alba Completes Further Motzfeldt Acquisition

Alba Mineral ResourcesAnnouncement

14/05/2026 11:30

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RNS Number : 3668E  Alba Mineral Resources PLC  14 May 2026

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

14 May 2026

Alba Mineral Resources Plc

("Alba" or the "Company") 

 

Alba Completes Further Acquisition of Motzfeldt Project

PDMR disclosures

Alba Mineral Resources plc (AIM: ALBA), the gold and critical raw materials
focused exploration and development company, is delighted to confirm that the
Greenland Government has approved the Company's acquisition of a controlling
51% interest in the Motzfeldt Critical Metals Project in south Greenland
("Motzfeldt" or the "Project").

Further to the Company's announcement of 28 October 2025, this approval was
the final condition required to be satisfied for Alba to proceed to complete
the acquisition of a further 25.5% interest in the Project and thereby
increase its interest to a total of 51%. Consequently, the Company has now
proceeded to the Completion of this acquisition.

The Greenland Government has also confirmed that the Project's exploration
licence has formally progressed into its second five-year term, covering the
period from 2026 to 2030 inclusive.

Dr Curtis Rooks, Alba's Principal Geologist, commented:

"The completion of Alba's acquisition of a majority interest in the Motzfeldt
Project marks a major milestone for the Company. Motzfeldt is one of only five
projects in Greenland to be granted 'very large deposit' status 1  and is
regarded as one of the country's most important critical mineral projects.

"Our recent confirmation of high-grade results for multiple critical metal
commodities at the Merino prospect, together with the existing defined
resource at the Aries deposit, further underlines Motzfeldt's potential as a
large-scale polymetallic project across an extensive licence area.

"We look forward to providing further updates regarding our ambitious work
programme for the remainder of the year as we advance Motzfeldt firmly towards
the next stage of development."

Issue of Consideration Shares and Admission to trading

In accordance with the terms set out in the Company's RNS dated 28 October
2025, 2,146,103,977 new ordinary shares in Alba have been issued
("Consideration Shares"). It is expected that Admission of the new ordinary
shares will become effective at 8.00 a.m. on or around 20 May 2026. The
Consideration Shares will be issued credited as fully paid and will rank in
full for all dividends and other distributions declared, made or paid after
Admission and will otherwise rank on Admission pari passu in all respects
with the existing ordinary shares.

Total Voting Rights

 

Following Admission of the Consideration Shares, the total number of ordinary
shares in issue will be 25,981,154,208. The Company does not hold any ordinary
shares in treasury. Therefore, the total number of ordinary shares with voting
rights will be 25,981,154,208. This figure may be used by shareholders in the
Company as the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules.

 

Directors' Holdings

 

George Frangeskides and his connected parties will receive 1,814,703,811
Consideration Shares.  Therefore, following Admission of the Consideration
Shares, the total number of ordinary shares in issue which are held by George
Frangeskides and his spouse will be 1,978,057,105 representing 7.6% of the
enlarged issued share capital.  The Directors' interests in aggregate shall
amount to approximately 7.9% of the enlarged issued share capital.

 

 

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market, financial and business conditions, competition
for and availability of qualified staff and contractors, regulatory processes
and actions, technical issues, new legislation, uncertainties resulting from
potential delays or changes in plans, uncertainties resulting from working in
a new political jurisdiction, uncertainties regarding the results of
exploration, uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the timing and granting of regulatory and
other third party consents and approvals, uncertainties regarding the
Company's or any third party's ability to finance, execute and implement
future plans and programmes, and the occurrence of unexpected events. Actual
results achieved may vary from the information provided herein as a result of
numerous known and unknown risks and uncertainties and other factors.

**ENDS**

Engage with Alba by asking questions, watching video summaries and reading
what other shareholders have to say. Navigate to our interactive Investor Hub
here:

https://albamineralresources.com/link/Pw76DP
(https://albamineralresources.com/link/Pw76DP)

 

For further information, please visit the Alba Mineral Resources plc investor
website (www.albamineralresources.com (http://www.albamineralresources.com) )
and sign up to receive news and engage with the Alba management team.
Subscribe to our news alert service
(https://alba-l.investorhub.com/auth/signup
(https://alba-l.investorhub.com/auth/signup) ) and visit @AlbaMinerals on X
(formerly Twitter).

 Alba Mineral Resources plc                 +44 20 3950 0725

 George Frangeskides, Executive Chairman
 SPARK Advisory Partners Limited (Nomad)    +44 20 3368 3555

 Andrew Emmott
 CMC Markets plc (Broker)                   +44 20 3003 8632

 Thomas Smith / Douglas Crippen

 

 Alba's Projects & Investments

 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
   Motzfeldt Critical Metals Project                  Greenland    51%
 GreenRoc Strategic Materials Plc (graphite - anode)  Greenland  23.97%
 Horse Hill (oil)                                     England    11.765%
 Earn-in Projects                                     Location   Earn-in Rights
 Finnsbo (rare earths, copper, gold)                  Sweden     Up to 100%

 

Notification of Dealings by Persons Discharging Managerial Responsibilities
and their Closely Associated Persons

The notifications set out below are provided in accordance with the
requirements of the UK Market Abuse Regulation.

 

 1  Details of the person discharging managerial responsibilities / person closely
    associated
    a)                           Name                                                         1.   George Frangeskides

                                                                                              2.   Sofia Frangeskides

                                                                                              3.   Sarah Potter
 2  Reason for the notification
    a)                           Position/status                                              1.   PDMR - Executive Chairman

                                                                                              2.   PCA - spouse of George Frangeskides,

                                                                                              3.   PDMR - Chief Financial Officer
    b)                           Initial notification / Amendment                             Initial Notification
 3  Details of the issuer, emission allowance market participant, auction
    platform, auctioneer or auction monitor
    a)                           Name                                                         Alba Mineral Resources plc
    b)                           LEI                                                          213800Z1BU53AWR9J329
 4  Details of the transaction(s): section to be repeated for (i) each type of
    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
    place where transactions have been conducted
    a)                           Description of the financial instrument, type of instrument  Ordinary shares of 0.01p each

                                 Identification code

                                                                                              GB00B06KBB18

    b)                           Nature of the transaction                                    Consideration Shares
    c)                           Price(s) and volume(s)                                           Price(s) (p)  Volume(s)
                                                                                              1.  0.02414       184,474,834
                                                                                              2.  0.02414       1,630,228,977
                                                                                              3.  0.02414       62,137,531
    d)                           Aggregated information                                           Price(s) (p)  Volume(s)
                                                                                                0.02414       1,876,841,342
    e)                           Date of the transaction                                      14 May 2026
    f)                           Place of the transaction                                     Outside a trading venue

d)

Aggregated information

     Price(s) (p)  Volume(s)
     0.02414       1,876,841,342

e)

Date of the transaction

14 May 2026

f)

Place of the transaction

Outside a trading venue

 

 

 1  Source: Geological Survey of Denmark and Greenland, GEUS.

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