REG - Alba Mineral Resrcs. - Completion of Broker Option & Operational Update

Alba Mineral ResourcesAnnouncement

24/07/2023 11:30

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RNS Number : 9776G  Alba Mineral Resources PLC  24 July 2023

Alba Mineral Resources plc

("Alba" or "the Company")

 

Completion of Broker Option & Operational Update

 

Alba Mineral Resources plc (AIM: ALBA) is pleased to announce that the Broker
Option announced on 5 July 2023 has now closed, raising £15,150 (before
expenses) through the issue of 12,120,000 million new ordinary shares at a
price of 0.125 pence per ordinary share (the "Placing"), conditional on the
admission of such new ordinary shares to trading on AIM ("Admission").

The Company is also pleased to provide this brief operational update in
respect of the Company's Welsh gold projects:

-   The dewatering exercise at the Lower Llechfraith workings, the Company's
primary gold target within the Clogau-St David's mine system, is proceeding
and pumping of the water from the workings is ongoing.  The Company expects
to commence safety works this week.

-   In respect of the Company's Dolgellau Gold Exploration Project, the
current advice from Alba's contractors, which will be undertaking the UAV
(unmanned aerial vehicle) geophysical survey flights over numerous regional
gold exploration targets within the Dolgellau Gold Field, is that due to
further delays in the processing of the Company's application by the
regulatory authority, the current estimate for the commencement of the flights
is now late August or into September.

 

Admission to AIM

Application will be made for the new ordinary shares in the Placing to be
admitted to trading on AIM ("Admission"). It is expected that Admission of the
new ordinary shares will become effective at 8.00 a.m. on or around 28 July
2023. The new ordinary 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, the total number of ordinary shares in issue will be
7,733,688,996. The Company does not hold any ordinary shares in treasury.
Therefore, the total number of ordinary shares with voting rights will be
7,733,688,996. 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.

 

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 and business conditions, competition for qualified
staff, the regulatory process 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 execute and implement future plans, 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**

 

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

 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 (0) 20 3003 8632

 Thomas Smith / Douglas Crippen
 St Brides Partners (Financial PR)            alba@stbridespartners.co.uk

 Isabel de Salis / Catherine Leftley

 

 

 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
 GreenRoc Mining Plc (mining)       Greenland  44.67%
 Horse Hill (oil)                   England    11.765%

 

 

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