REG - Alba Mineral Resrcs. - GROC Update - Close of Broker Option

Alba Mineral ResourcesAnnouncement

23/12/2022 07:00

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RNS Number : 6925K  Alba Mineral Resources PLC  23 December 2022

Alba Mineral Resources plc

("Alba" or the "Company") 

GROC Update

Close of Broker Option

 

Alba Mineral Resources plc (AIM: ALBA) is pleased to note the announcement
today by its portfolio company, GreenRoc Mining Plc ("GreenRoc") (AIM: GROC).
Alba consequently holds a 50.6% majority interest in GreenRoc. The
announcement is set out below without material changes.

 

GreenRoc Mining Plc

("GreenRoc" or the "Company")

 

Close of Broker Option

 

GreenRoc Mining Plc (AIM: GROC), a company focused on the development of
critical minerals projects in Greenland, is pleased to announce that it has
undertaken a placing of 400,000 new ordinary shares which has raised gross
proceeds of £18,000 (before costs) (the "Placing") at a price of 4.5 pence
per share (the "Placing Price").  This Placing is the outcome of the Broker
Option announced on 9 December 2022, which closed at 12:00pm on 22 December
2022.

 

The Broker Option was put in place by the Company so that shareholders and
other investors who did not initially have the opportunity to participate in
the placing that closed on 9 December 2022 (the "Original Placing") could do
so on the same terms.

 

As with the Original Placing, the proceeds of the Placing will be used to
support an accelerated development programme at the Company's flagship Amitsoq
Graphite Project in South Greenland ('Amitsoq' or the 'Project'), one of the
world's highest grade graphite projects.  This includes environmental and
social impact assessment studies as part of the licensing application process,
and further test work on a 700kg bulk ore sample and marketing engagement as
part of the commercialisation process.

 

Application for Admission to AIM

Application will today be made to the London Stock Exchange to admit the
Placing Shares to trading on AIM and admission is expected to occur on or
around 3 January 2023. The Placing Shares will when issued rank pari
passu with the Company's existing ordinary shares of 0.1 pence each.

 

Total Voting Rights

Following the issue of the Placing Shares, the enlarged issued share capital
of the Company will comprise 118,600,001 Ordinary Shares, each with one voting
right. The Company does not hold any Ordinary Shares in treasury, and
therefore, the total number of voting rights in the Company will be
118,600,001.

 

The above figure of 118,600,001 should 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 Guidance 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.

 

**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 
                      +44 20 3368 3555

OvalX (Broker)    

Thomas Smith
                        +44 20 7392 1494

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%   
 Limerick (zinc-lead)                       Ireland            100%   
 Investments Held by Alba                   Location           Ownership    
 GreenRoc Mining Plc (mining)               Greenland          50.6%   
 Horse Hill (oil)                           England            11.765%   

 

 

 

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