Alba Mineral Resources PLC Completion of Broker Option & Operational Update (9776G)
July 24 2023 - 5:30AM
UK Regulatory
TIDMALBA
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 GBP15,150 (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 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
-----------------------------
CMC Markets plc (Broker)
Thomas Smith / Douglas Crippen +44 (0) 20 3003 8632
-----------------------------
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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END
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