REG - Alba Mineral Resrcs. - Finnsbo Swedish Rare Earth Transaction Completion

Alba Mineral ResourcesAnnouncement

08/01/2025 07:00

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RNS Number : 4686S  Alba Mineral Resources PLC  08 January 2025

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

8 January 2025

Alba Mineral Resources plc

 

("Alba" or "the Company")

 

Completion of Finnsbo Swedish Rare Earth Transaction

 

Alba Mineral Resources plc (AIM: ALBA) is pleased to announce that it has
exercised the option over the Finnsbo Rare Earth Project in Sweden (see our
announcement of 6 November 2024) and has now completed the transaction,
involving a Completion payment to the project owners of £7.5k in cash and
£7.5k in Alba shares (for a total of 30,512,612 shares).

Alba now has the right to earn into the Finnsbo Project in stages, as per our
announcement of 6 November 2024, with the first stage comprising the right to
spend £100k on qualifying expenditure over a 12-month period in order to earn
a 25% interest in the Project, with the further right thereafter to earn or
acquire in further stages up to a 100% interest in the Project.

Further information about the forthcoming work programme at this exciting,
high-grade prospect will follow in due course.

 

Admission to AIM

 

Application will be made for the 30,512,612 new ordinary shares 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 13 January
2025. 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
10,941,721,949. The Company does not hold any ordinary shares in treasury.
Therefore, the total number of ordinary shares with voting rights will be
10,941,721,949. 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**

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/8r6KMP
(https://albamineralresources.com/link/8r6KMP)

 

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
 GreenRoc Strategic Materials Plc (graphite - anode)  Greenland  34.34%
 Horse Hill (oil)                                     England    11.765%
 Earn-in Projects                                     Location   Earn-in Rights
   Finnsbo (rare earths, copper, gold)                Sweden     Up to 100%
 Optioned Projects                                    Location   Further details
   Norrby (gold, other metals)                        Sweden     RNS 6/11/24
   Glava (copper, gold)                               Sweden     RNS 6/11/24
   East African projects (gold)                       Tanzania   RNS 11/11/24

 

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