Proactiveinvestors RSS feed en Thu, 22 Feb 2018 07:16:43 +0000 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[News - Alba Mineral Resources adds to exploration acreage in Greenland ]]> Alba Mineral Resources plc (LON:ALBA) has snapped up a licence in north-west Greenland close to its existing Inglefield Land blocks.

The additional ground was previously under licence to NunaMinerals, which held some of the potentially most prospective areas in Greenland according to Alba.

Last year, though, Greenland made much of the former Nuna exploration ground available in a formal application process.

WATCH: Alba Mineral Resources' oil & gas play pairs well with strong mining expertise

George Frangeskides, Alba's executive chairman, said: “Once further ground became available (at Inglefield Land) late last year, we identified the major areas of interest and submitted our application."

Previous exploration has already confirmed potential for copper-zinc volcanogenic massive sulphide (VMS) deposits, while extensive surface sampling reported anomalous copper (up to 1.39%), gold (up to 1.7g/t), cobalt (up to 0.16%), vanadium and nickel. 

"One of the drivers for us to look at the potential within Inglefield Land is that we already have a strong base in north-west Greenland with our Thule Black Sands project," added Frangeskides.

"As we will be working extensively up at Thule this coming field season, we will be able to utilise the same team and logistics to undertake a first field exploration campaign at Inglefield Land, which is approximately 100km to the north of the town (and exploration base) of Qaanaaq, Thule Black Sands being approximately 80km to the south. 

READ: Angus Energy to re-start Brockham in Surrey with two wells

"In the coming months, investors can expect to see significant news flow at Alba, not only across our suite of high-quality mining assets in Greenland and the UK, but also of course in relation to our substantial interests in the Horse Hill and Brockham oil projects.” 

Fri, 09 Feb 2018 08:51:00 +0000
<![CDATA[RNS press release - Further Exploration Ground Secured at Inglefield ]]> Fri, 09 Feb 2018 07:00:03 +0000 <![CDATA[News - Angus Energy to re-start Brockham in Surrey with two wells ]]> Angus Energy PLC (LON:ANGS) has confirmed production at the Brockham field near Reigate in the Weald Basin will re-start in March from two wells rather than the one originally planned.

Production will come from BR-X2Y and BR-X4Z and target the Portland Reservoir at a depth of about 615m.

READ: You missed the point - David Lenigas gives both Twitter barrels to Angus Energy critics

BR-X2Y was producing about 30bbl/day prior to its temporary closure.

Previously Angus had said it wanted 150 barrels daily from Brockham, including a sidetrack to X4Z.

Production from both wells will be carried out through conventional production with no fracking.

WATCH: Angus Energy & UKOG give latest twists for Weald basin exploration story

Angus Energy is the 65% majority owner and operator of the Brockham licence, with listed firm Alba Mineral Resources PLC (LON:ALBA) owning a 5% stake.

George Frangeskides, Alba's Executive Chairman, said: "We are pleased to report this proposed doubling in the number of wells that Angus Energy now wish to bring into production at Brockham this quarter.”

Shares in Angus rose 10% to 11.1p and Alba 2.5% to 0.42p.

Mon, 15 Jan 2018 11:53:00 +0000
<![CDATA[RNS press release - Brockham Update ]]> Mon, 15 Jan 2018 10:30:01 +0000 <![CDATA[RNS press release - Second Price Monitoring Extn ]]> Fri, 29 Dec 2017 11:05:19 +0000 <![CDATA[RNS press release - Price Monitoring Extension ]]> Fri, 29 Dec 2017 11:00:12 +0000 <![CDATA[RNS press release - Second Price Monitoring Extn ]]> Fri, 29 Dec 2017 09:05:52 +0000 <![CDATA[RNS press release - Price Monitoring Extension ]]> Fri, 29 Dec 2017 09:00:30 +0000 <![CDATA[News - Alba Mineral Resources reveals findings from sampling at Amitsoq project ]]> Alba Mineral Resources Plc (LON:ALBA) has reported exploration findings from the Amitsoq project in Greenland.

In a stock market statement, the company highlighted results from stream and sediment sampling for gold exploration and grab samples testing for the presence of platinum group metals (PGMs) in an ultramafic dyke, as well as grab samples of graphite occurrences.

READ: Alba Mineral Resources looks forward to significant cash flow as Horse Hill advances

Thirty-three graphite samples contained an average graphitic carbon content of 20.88%, and graphitic carbon content at the new Kalaaq graphite showing averaged 25.62% carbon(with the highest seen at 29%).

Additionally, the company said trace element geochemistry of graphite samples showed that they were low in potentially deleterious elements (As, Cd, Hg).

Grab samples collected from a sulphide-rich area of the Amitsoq hornblende peridodite dyke contained 0.3 grams per tonne platinum, 0.3 g/t palladium, and 0.3 g/t gold.

WATCH: Alba Mineral Resources' oil & gas play pairs well with strong mining expertise

And stream sediment and grab samples collected over the licence area indicate that only the Søndre Sermilik target contains elevated gold (up to 0.4 g/t) and copper (up to 0.77%) concentrations in previously untested structures.

Thu, 28 Dec 2017 09:33:00 +0000
<![CDATA[RNS press release - Summary of Geochemical Sampling at Amitsoq ]]> Thu, 28 Dec 2017 07:00:02 +0000 <![CDATA[News - Alba Minerals confirms appointment of SRK Consulting as principal technical adviser to the Clogau gold project ]]> Alba Mineral Resources PLC (LON:ALBA) has appointed Cardiff-based SRK Consulting as the principal technical adviser to the Clogau gold project in Wales.

AIM-listed Alba holds a 49% stake in Gold Mines of Wales Limited - the owner of the project.

READ: Alba Mineral Resources looks forward to significant cash flow as Horse Hill advances

The SRK team completed a site visit just before Christmas and they will now work alongside the GMOW team to formulate a detailed plan for the exploration and development work to be carried out in 2018.

“We are very pleased indeed to have secured the support of a firm of the international renown of SRK to assist us and project operator GMOW as we take the Clogau Gold Project forward in the coming months and years,” said Alba’s executive chairman George Frangeskides.

“This is doubly the case as SRK has such a close connection with Wales. Clogau is a project with a very special place in the heritage of the United Kingdom and specifically in Wales, and as such it is important to us to have the support as many relevant stakeholders in Wales as possible we seek to take the project forward.”

READ: Alba might have next big minerals sands story says broker

Alba shares dipped 5.3% to 0.44p on Wednesday.

Wed, 27 Dec 2017 10:23:00 +0000
<![CDATA[RNS press release - Appointment of SRK Consulting ]]> Wed, 27 Dec 2017 07:00:07 +0000 <![CDATA[News - Alba Mineral Resources looks forward to significant cash flow as Horse Hill advances ]]> Alba Mineral Resources PLC (LON:ALBA) executive chairman George Frangeskides is looking forward to “a key step” towards commercial production and significant cash flow as the Horse Hill oil project moves closer to its next phase.

A series of stock market statements, from the clutch of oil companies invested in the project, informed investors that the Horse Hill operating vehicle, HHDL, has confirmed that the programme will get underway “in late winter 2017/18”.

WATCH: Alba Mineral Resources' oil & gas play pairs well with strong mining expertise

The programme, which includes a 150-day production test and new drilling, is designed to confirm the commerciality of the Portland and Kimmeridge oil discoveries. It will also set up the project for the start of long term production, targeted in early 2019.

“We are pleased that, together with our consortium partners and the operator HHDL, we have now clearly mapped the path towards commercial production at Horse Hill,” Frangeskides said in a statement.

“The execution of this programme in 2018 will be a key step towards delivering the goal of commercial production and significant cash flow at Horse Hill."

Long term production testing

First the existing well will be tested for production, starting with the Portland zone – which flowed at a rate of 323 barrels of oil per day previously - before the KL3 and KL4 Kimmeridge zones are tested.

Each zone is to flow for 30 to 40 days. It will see sequences of steady state production and shut-in periods, this will be done to help establish how much of Horse Hill’s oil-in-place is directly connected to the well.

It is also planned that a short maximum rate flow test will take place for each reservoir, and, schedule permitting, previously untested deeper Kimmeridge zones may undergo short-term tests.

New drilling

After that, it is planned that the Horse Hill 2 appraisal well will be drilled, likely by summer 2018.

The well is being planned with ‘optionality’ to deepen into the Kimmeridge and could also be deviated northwards to access the Portland in the Collendean Farm fault block (where significant oil-in-place is seen).

It is now anticipated that the new sidetrack to the first Horse Hill well will now move into the schedule for 2019, once a new Kimmeridge reservoir model has been developed using the longer term production test data, in addition to the well data from Broadford Bridge and Horse Hill 2.

A new planning application for long term oil production is due to be submitted to the authorities by late spring 2018.

Tue, 19 Dec 2017 10:17:00 +0000
<![CDATA[RNS press release - Horse Hill Update ]]> Tue, 19 Dec 2017 07:00:03 +0000 <![CDATA[News - Alba might have next big minerals sands story says broker ]]> Alba Mineral Resources PLC's (LON:ALBA) Thule Black Sands has potential to be the next big heavy mineral sands story says First Equity.

The Aim-listed junior has made remarkable progress at the ilmenite project in Greenland, added the broker.

Alba was only awarded the licence last August but the company is now aiming to define a maiden JORC resource.

The swift progress, however, and Thule's close location to Bluejay Mining’s (Market Cap £172mln v Alba’s £8.4mln) ilmenite project at Dundas, has been completely overlooked by the market.

Two major newsflow events, the JORC resource at Thule and feasibility study at Dundas, are expected within the coming months and could soon change this perception, the broker adds

On top of this, Alba has added a new gold project in Wales at Clogau, from which premium branded gold could be produced.

The company also has a significant holding in the Horse Hill oil development near Gatwick where extended flow testing is scheduled to get underway in the near year.

Alba has a 5% stake in the Brockham field as well, where production in expected to start in the first quarter of 2018.

First Equity analyst Jason Robertson has a target price of 6p, or more than 15 times the 0.36p in the market currently, and made up of 4.1p for Horse Hill and 1.9p for Thule.

Thu, 14 Dec 2017 14:27:00 +0000
<![CDATA[Media files - Alba Mineral Resources' oil & gas play pairs well with strong mining expertise ]]> Fri, 08 Dec 2017 10:56:00 +0000 <![CDATA[RNS press release - Acquisition of Interest in Gold Mines of Wales ]]> Mon, 04 Dec 2017 07:00:04 +0000 <![CDATA[RNS press release - Thule Flyover Video Released ]]> Fri, 01 Dec 2017 14:09:37 +0000 <![CDATA[RNS press release - Further Interest in Horse Hill ]]> Wed, 29 Nov 2017 16:30:01 +0000 <![CDATA[RNS press release - Thule Presentation ]]> Wed, 22 Nov 2017 07:00:03 +0000 <![CDATA[RNS press release - Sampling Results ]]> Thu, 16 Nov 2017 07:00:06 +0000 <![CDATA[RNS press release - Change of Adviser ]]> Wed, 01 Nov 2017 12:00:01 +0000 <![CDATA[RNS press release - Brockham Update ]]> Wed, 25 Oct 2017 07:00:03 +0100 <![CDATA[RNS press release - Appointment of Technical Director ]]> Tue, 24 Oct 2017 07:00:04 +0100 <![CDATA[RNS press release - Brockham Update ]]> Mon, 23 Oct 2017 07:00:03 +0100 <![CDATA[RNS press release - Agreement for Additional Interest in Horse Hill ]]> Wed, 18 Oct 2017 17:00:01 +0100 <![CDATA[RNS press release - Horse Hill Update ]]> Wed, 18 Oct 2017 15:45:01 +0100 <![CDATA[RNS press release - Issue of Equity - correcting announcement ]]> Thu, 28 Sep 2017 14:42:59 +0100 <![CDATA[RNS press release - Issue of Equity ]]> Thu, 28 Sep 2017 07:00:07 +0100 <![CDATA[RNS press release - Amitsoq Update ]]> Tue, 26 Sep 2017 07:00:03 +0100 <![CDATA[RNS press release - Brockham Update ]]> Fri, 22 Sep 2017 07:00:04 +0100 <![CDATA[RNS press release - Thule Black Sands Reconnaisance and Sampling ]]> Tue, 19 Sep 2017 07:00:05 +0100 <![CDATA[RNS press release - Horse Hill Update ]]> Fri, 08 Sep 2017 07:00:03 +0100 <![CDATA[RNS press release - Further Exploration Licences in Greenland ]]> Mon, 04 Sep 2017 07:00:05 +0100 <![CDATA[RNS press release - Half-year Report ]]> Wed, 30 Aug 2017 07:00:01 +0100 <![CDATA[RNS press release - Issue of Equity ]]> Fri, 25 Aug 2017 15:06:26 +0100 <![CDATA[RNS press release - Warrant exercise and issue of equity ]]> Wed, 02 Aug 2017 07:00:05 +0100 <![CDATA[RNS press release - Grant of Licence ]]> Tue, 01 Aug 2017 07:00:17 +0100 <![CDATA[RNS press release - Holding(s) in Company ]]> Mon, 24 Jul 2017 14:07:09 +0100 <![CDATA[RNS press release - Stmnt re Share Price Movement ]]> Fri, 21 Jul 2017 11:40:48 +0100 <![CDATA[RNS press release - Multiple New Graphite Beds Discovered at Amitsoq ]]> Tue, 18 Jul 2017 07:00:09 +0100 <![CDATA[RNS press release - Update on Horse Hill Project ]]> Mon, 10 Jul 2017 07:00:09 +0100 <![CDATA[RNS press release - Holding(s) in Company ]]> Wed, 05 Jul 2017 07:00:05 +0100 <![CDATA[RNS press release - Brockham Update ]]> Mon, 26 Jun 2017 12:00:02 +0100 <![CDATA[News - City broker retains punchy price target for Alba Minerals despite slashing forecasts for the Horse Hill stakeholder ]]> City broker Dowgate Capital has slashed its forecasts for Alba Mineral Resources PLC (LON:ALBA), but still reckons the Horse Hill stakeholder is worth a whopping 30 times more than its current valuation.

Dowgate analyst Jason Robertson had previously slapped a 14.7p share price target on Alba’s head, but he’s now trimmed that to just  7p, which he expects it to hit by the end of next year.

To give you an idea of just how punchy that (reduced) figure is, the junior explorer's shares are currently changing hands for 0.22p.

Lower Horse Hill value

In his original ‘base case’ valuation, the analyst had estimated that Horse Hill – in which Alba has a 10% stake – was worth US$33.6mln to the company.

He’s now lowered this significantly, forecasting the ‘Gatwick Gusher’ – as Horse Hill is also known – to be worth around US$143.2mln to Alba.

“The reduced Horse Hill value is mostly due to a lower discovery value per oil barrel assumption, because of higher production costs estimates at US$21 per barrel (previously US$10 to US$20 p/b),” explained Robertson.

Brockham or Horse Hill?

Alba is the only listed company to have an interest in the Horse Hill and Brockham projects, both of which are located not too far from Gatwick Airport in a seemingly oil-rich part of the country.

In terms of regulatory approvals, Brockham is slightly ahead of Horse Hill, but Robertson thinks the latter has a much bigger potential.

“Despite Brockham’s production licence status and recent side-track well results, we value the Horse Hill licences at 2.7x that of Brockham on a peer-to-peer comparison due to the much larger size of Horse Hill’s licence acreage and production potential of the vast underlying oil rich Kimmeridge zone.”

What’s next at the Gatwick Gusher?

The next regulatory hurdle to be cleared at Horse Hill is to secure approval from Surrey County Council for long term production testing and further appraisal drilling, which Robertson thinks could happen within the next few weeks.

“This could be decided at a Council planning committee meeting in mid-July 2017, then leading to potential test operations starting in late 2017, once other approvals are secured, which are likely to be less onerous than the SCC decision.”

The analyst advises to keep an eye on the share price in the run-up to this planning decision, as he thinks shares have the potential to rally.

Slightly further down the line, and subject to the finance and approvals, Robertson reckons Production from both Kimmeridge and Portland pay zones at Horse Hill could commence at end of 2018.

Thu, 08 Jun 2017 11:27:00 +0100
<![CDATA[RNS press release - Result of AGM and Board Change ]]> Tue, 30 May 2017 09:53:13 +0100 <![CDATA[RNS press release - Amitsoq Update ]]> Fri, 26 May 2017 07:00:09 +0100 <![CDATA[RNS press release - Brockham Update ]]> Thu, 11 May 2017 11:00:02 +0100 <![CDATA[RNS press release - Brockham Licence Update ]]> Thu, 11 May 2017 07:00:14 +0100 <![CDATA[RNS press release - AGM Notice ]]> Mon, 08 May 2017 13:43:22 +0100