Proactiveinvestors RSS feed en Tue, 23 Oct 2018 08:08:25 +0100 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[News - Alba Mineral Resources stake in Horse Hill should not be overlooked ]]> A lot of people and companies have already phased in and out of the Horse Hill oil project, which remains at a relatively early stage.

Many faces and names have changed from the initial funding stage, through exploration drilling and subsequent production testing.

READ: Alba looks forward to Horse Hill field development as Portland is declared “commercially viable”

Now, investors in London have just two options if they’re to get exposure to the so-called Gatwick Gusher.

Whilst UK Oil & Gas PLC (LON:UKOG) is the largest stakeholder, with around 46% of the asset, AIM-peer Alba Mineral Resources PLC (LON:ALBA) is the more understated and under-rated alternative.

Alba holds 11.765% of the underlying Horse Hill project and, according to executive chairman George Frangeskides, it is on-course to benefit significantly as the UK oil field moves closer to commercial development.

“We’re in pretty good shape in the Portland at Horse Hill. It has been a very successful campaign,” Frangeskides said in an interview with Proactive Investors.

Meanwhile, in reference to the results from the deeper and potentially larger Kimmeridge play, he added: “early indications have been very promising.”

The current production testing programme is due to complete next month, at some point, and, subject to results, could lead to field development activities and additional drilling.

Indeed, along with a declaration that the Portland reservoir was now deemed commercially viable, it was highlighted this week that the Horse Hill 2 would likely be drilled in 2019.

HH-2 would be a horizontal well, and, importantly, planning and regulatory consents have already been secured. Any subsequent field development work would, however, need fresh approvals both centrally and with the local planning authority.

Frangeskides noted that, following recent consolidation, Alba is now one of just two London-listed companies with a stake in the Horse Hill Developments (HHDL) vehicle, which owns 65% of the underlying project.

The company’s indirect, beneficial interest in Horse Hill is 11.765%.

“It is good for us. It is a little bit less crowded market and story [for investors] as it probably was … so it is good that there are only a few of us now in the project.”

READ: Balcombe and Horse Hill: What’s next for the UK’s new oil play?

The Alba boss acknowledged that in terms of valuation and public profile, his company has been somewhat overlooked compared to fellow Horse Hill stakeholder UKOG, but, highlighted that as production operations nears, he would expect a re-rating of Alba’s share price.

“The major holder in projects tend to get the lion’s share of publicity and interest, but, when we go into production, the reality is, that we will get our share of the production revenues and we will get our share of the oil.

“Therefore, assuming all goes well, there would have to be a rerate because nothing tells the real story like actual production.”

Frangeskides added: “We’ve believed in the project. We’ve seen news that supported the reasons that we invested into it, and, so, we’re very confident in the future of Horse Hill.

“We know the operator has got plans to get it into production, subject to consents and everything else, by next year and obviously we’d be very supportive of that as an objective.”

Fri, 19 Oct 2018 13:31:00 +0100
<![CDATA[Media files - Alba Mineral Resources confident as Horse Hill moves towards development ]]> Fri, 19 Oct 2018 11:12:00 +0100 <![CDATA[Media files - Horse Hill has delivered plenty of excitement but more data is still needed ]]> Thu, 18 Oct 2018 08:53:00 +0100 <![CDATA[News - Alba looks forward to Horse Hill field development as Portland is declared “commercially viable” ]]> George Frangeskides, Alba Minerals Resources Plc’s (LON:ALBA) executive chairman, is looking forward to the rapid progression of the Horse Hill oil field into the development phase, and, subsequently into production.

Alba owns an 11.765% beneficial interest in the Horse Hill project, via a shareholding in the HHDL vehicle.

READ: UKOG declares Horse Hill’s Portland reservoir “commercially viable”

UK Oil & Gas Investments PLC (LON:UKOG), the largest London listed stakeholder in Horse Hill, today, declared Horse Hill’s conventional Portland oil reservoir as “commercially viable”.

At the same time, UKOG detailed the envisaged development which would comprise three production wells and two pressure support wells.

It would include the horizontal HH-2 well which is planned and permitted (planning and environmental consents are in place) for early 2019 following the completion of the HH-1 extended production testing programme – which is presently ongoing in the well’s deeper Kimmeridge zones.

It follows on from the successful extended test of the conventional Portland reservoir, which exceeded expectations with a calculated vertical well production rate of 362 barrels of oil per day.

The proposed HH-2 well will have a targeted production rate of 720 to 1,080 bopd from the Portland.

Consultant Xodus has modelled the Portland’s production profile and claims that up to 45% of the Portland reservoir’s oil-in-place could be recovered if certain pressure support measures are put in place.

It is envisaged that long-term production operations could begin during 2019. The development – of the Portland and Kimmeridge zones - will require additional planning permission. UKOG said the application is nearing completion, and, submission is anticipated before the end of 2018.

UKOG eyes Horse Hill ‘transformation’

UKOG holds an indirect 46.735% beneficial interest in Horse Hill, via its shareholding in the HHDL vehicle which in turn owns 65% of the asset.

"HHDL's declaration of Portland commercial viability is a significant milestone for the Company,” said UKOG chief executive Stephen Sanderson.

“It transforms Horse Hill from solely exploration into a fully-fledged field development with a full-scale oil production start-up targeted in 2019.”

He added: “The better than expected EWT results have robustly demonstrated that the Portland has significant daily production potential in its own right, which could see the first planned horizontal producer attain sustained oil rates of 720-1,080 bopd.

“If realised, these rates could make the Horse Hill Portland oil field one of the UK onshore's top producers.”

Kimmeridge testing continues

Sanderson also highlighted that the Portland conventional oil field project could be combined with the development of the deeper, unconventional Kimmeridge zones – which are presently on the extended test.

Latest results, released earlier this week, exceeded those seen in the previous tests back in 2016.

The first Kimmeridge test has seen oil flow continuously and naturally from the KL3 zone to surface.

Test flows measured production rates between 563 and 771 barrels of oil per day, before further testing programme resumed with pressure build up, clean-up, flow stabilization, oil sampling.

After that, the programme moves on to test production from the KL4 zone where, in 2016, a rate equivalent to 901 bopd was measured over a four hour period.

Thu, 18 Oct 2018 07:47:00 +0100
<![CDATA[RNS press release - Horse Hill Update ]]> Thu, 18 Oct 2018 07:00:08 +0100 <![CDATA[News - Alba Mineral identifies gold extensions at Clogau mine in Wales ]]> Alba Mineral Resources (LON: ALBA) has found evidence of gold well away from the old mine workings at Clogau in Wales.

Soil sampling and geophysical sampling confirmed that gold anomalies occur all along the strike of the existing mine but also extended away.

READ: Alba Mineral Resources says latest Horse Hill results are “highly encouraging”

George Frangeskides, executive chairman, said the data collected so far at Clogau was a major leap forward for the Dolgellau gold belt where Clogau lies.  

“Previous exploration simply involved following and mining the visible gold veins, and systematic, technical exploratory studies to understand the potential of the entire gold belt have never previously been carried out."

"We have already found potential extensions of mineralisation close to the existing mine workings, specifically in the western portion of the mine area but also away from the mine workings, at the contact between the different geological formations.”

Wed, 17 Oct 2018 08:09:00 +0100
<![CDATA[RNS press release - Clogau Field Work Results ]]> Wed, 17 Oct 2018 07:00:05 +0100 <![CDATA[News - Alba Mineral Resources says latest Horse Hill results are “highly encouraging” ]]> Alba Mineral Resources Plc (LON:ALBA) chief executive George Frangeskides has described new production test results from the Horse Hill project as “highly encouraging”.

The first Kimmeridge test saw oil flow continuously and naturally from the KL3 zone to surface over the past 50 hours.

Moreover, the flow of oil was measured at rates between 563 and 771 barrels of oil per day over the past 24 hours. At the same time, gas rates measured at 186 thousand cubic feet per day via an enclosed flare.

Alba shares gained 4.5% in Wednesday afternoon’s deals.

READ: Balcombe and Horse Hill: What’s next for the UK’s new oil play?

The 2018 test rates to date compare very favourably to the 464 bopd rate recorded for the same Kimmeridge section two years ago.

Pressure data indicates that the KL3 zone and the overlying KL4 zone comprise one single connected oil pool, with an implied minimum vertical extent of 358 feet.

Four tankers carrying crude produced in the Kimmeridge test have been transported to the Fawley refinery.

No formation water has been recorded, and although it noted that water from well completion continues to be recovered as the well continues to proceed through the ‘clean up’ phase.

The Horse Hill production test programme continues. The first 24-hour pressure build up (PBU) test is now underway. It will be followed by further operations including additional clean-up, flow stabilization, oil sampling, and more PBUs.

After that, the programme will move on to test production from KL4 where, in 2016, a rate equivalent to 901 bopd was measured over a four hour period.

Alba has an 18.1% stake in HHDL, which in turn owns 65% of the Horse Hill discovery.

Frangeskides, in a statement, said: "Whilst these are early results from the KL3 EWT sequence, with the well still ‘cleaning-up’, the rates achieved so far in the Kimmeridge limestones are highly encouraging. 

“We look forward to the results of the remainder of the KL3 and KL4 test programme, and look forward also to learning of the operator's go forward plans for the field development of the Portland sandstone and Kimmeridge limestone reservoirs at Horse Hill."

UK Oil & Gas has a 46.735% indirect interest in the Horse Hill project, via a shareholding in HHDL with in turn owns 65% of the asset. Solo Oil PLC (LON:SOLO) retains an interest in the project, via its shareholding in UKOG, following its recent divestment deal.

Stephen Sanderson, UKOG chief executive, separately said: “I am delighted to have witnessed first-hand the resumption of significant continuous and sustained oil flow from the Kimmeridge at Horse Hill.

“Whilst it has been a long wait since the successful 2016 flow tests, it has been made more momentous by the Kimmeridge's significantly increased performance and productivity.”

He added: “The directors consider that these positive KL3 test results now make it increasingly likely that both the Kimmeridge and Portland oil pools are set to make Horse Hill one of the UK's leading onshore producing oil fields. Permanent production at Horse Hill is targeted in 2019.”

Wed, 10 Oct 2018 15:06:00 +0100
<![CDATA[RNS press release - Horse Hill Update ]]> Wed, 10 Oct 2018 13:55:34 +0100 <![CDATA[News - Alba Minerals says UK Oil & Gas’s Horse Hill sees start of Kimmeridge testing ]]> Alba Mineral Resources (LON:ALBA) told investors via UK Oil & Gas Plc (LON:UKOG), which owns operator Horse Hill Developments, that the flow testing operations in the Kimmeridge Limestone 4 (KL4) zone have now begun.

The company also revealed that a new report, by consultant Xodus, has determined that the single HH-1 well "sees" between 7mln and 11mln barrels of connected oil in place in the conventional Portland reservoir.

Meanwhile, a long-term production scoping report has been submitted to Surrey County Council.

READ: UKOG says Horse Hill’s Portland zone is “robustly commercial”

It will include a total of six production wells, with up to 3 production wells and a reservoir pressure support well in the Portland oil pool.

A planning application for the production operation is due to be submitted to the council before the completion of the extended well test programme.

"The Portland continues to out-perform our initial expectations and looks set to provide the production and cash flow base that can underpin UKOG's future growth,” said Stephen Sanderson, UKOG chief executive.

“Our immediate operational focus now switches to the Kimmeridge EWT, which, if successful, has the potential to make Horse Hill one of the UK's leading onshore producing oil fields and to help unlock the value within our extensive Kimmeridge asset portfolio in the Weald."

George Frangeskides, chairman of fellow Horse Hill stakeholder Alba Minerals, said: "These ambitious plans revealed by the operator to drill up to a further four wells at the Horse Hill site, on top of the already planned HH-1z side-track well and HH-2 new well, supports our belief in the potential for Horse Hill to provide material production and cash flow returns to Alba in the medium to long-term. 

“In the short-term, meanwhile, we await the results of the current Kimmeridge EWT, which we hope will further underpin the plans to submit a planning application for the commencement of full-scale production."

Fri, 05 Oct 2018 12:01:00 +0100
<![CDATA[RNS press release - Horse Hill Update ]]> Fri, 05 Oct 2018 11:30:01 +0100 <![CDATA[News - Alba Mineral Resources sets off on the next stage to define new gold targets at its mine in North Wales ]]> Alba Mineral Resources PLC (LON:ALBA) said a team had been dispatched to North Wales to carry out electromagnetic and magnetic geophysical surveys on its gold asset there.

It follows the completion of a geochemical assessment of the Clogau-St David's mine area and near-mine extensions, samples from which have been sent for analysis.

READ: Alba Mineral Resources promises rest of the year will be a busy one

The objective of the work is to define new targets.

"This field programme is, to our knowledge, the first ever concerted modern exploration campaign conducted on the Dolgellau Gold Belt since the first gold discovery there in 1853,” said chairman George Frangeskides.

“Once we have completed the current mine and near mine exploration programme, the intention is then to embark on a second phase exploration campaign later this year which will cover the highest priority regional gold targets identified within the entire 107 km² licence area."

In parallel, the company is continuing with its baseline environmental studies at the mine. This is a key step in the permitting process for restarting production.

Thu, 20 Sep 2018 07:28:00 +0100
<![CDATA[RNS press release - Clogau Gold Exploration Update ]]> Thu, 20 Sep 2018 07:00:03 +0100 <![CDATA[RNS press release - Horse Hill Update ]]> Mon, 10 Sep 2018 12:30:43 +0100 <![CDATA[News - Alba Mineral Resources promises rest of the year will be a busy one ]]> Alba Mineral Resources PLC (LON:ALBA), the mineral exploration and development company, has completed the acquisition of a further 41% of Gold Mines of Wales Limited.

Alba now holds a 90% stake in the Clogau gold project located in the Dolgellau gold belt in North Wales.

READ Alba Mineral Resources set to take a further 41% stake in Clogau gold mine​

The company also released its results for the six months to the end of May.

The pre-revenue company made a loss before tax of £381,367, compared to a loss the year before of £335,320.

The company said there had been “a significant hiatus” in its oil & gas investments in the Weald Basin, as the operators at both Horse Hill and Brockham spent much of the preceding 12 months navigating their way through the regulatory maze.

“As previously announced, we are finally seeing welcome progress at both sites,” the company said.

“At Horse Hill, we are currently in the middle of a long-term testing programme that should tell us a great deal about the commercial viability of the project and we await the start of flow testing at Brockham, which project already benefits from a production licence,” it added.

As for its mining projects, the summer programmes at both Thule and Inglefield Land in Greenland have been completed and the next stage will be to assess the results of those campaigns.

Meanwhile, the company has just begun field work at the Clogau gold project.

“The rest of the year promises to be a busy time for the company, as we push our mining projects through the next phase in their development and oversee what we hope to be the rapid progress of the onshore oil & gas assets in which we are invested,” Alba said.

Alba’s shares were up 4.1% at 0.5p late on Friday afternoon.

Fri, 24 Aug 2018 16:04:00 +0100
<![CDATA[RNS press release - Half-year Report ]]> Fri, 24 Aug 2018 15:32:48 +0100 <![CDATA[RNS press release - Completion of Acquisition of Further Stake in GMOW ]]> Fri, 24 Aug 2018 14:32:37 +0100 <![CDATA[News - Alba Mineral jumps on news Brockham Oil Project granted planning approval by Surrey County Council ]]> Alba Mineral Resources PLC (LON:ALBA) saw its shares jump higher on Wednesday afternoon after it was announced that the Brockham Oil Project was today granted planning approval by the Surrey County Counc

In a statement, the AIM-listed firm said Angus Energy PLC (LON:ANGS), the operator of the Brockham project, was notified that approval was granted by the Surrey County Council for the retention of the BR-X4 well, the regularisation of the BR-X4Z side-track, and the appraisal of BR-X4Z at the Brockham Oil Field.

WATCH: Alba Mineral chairman looks forward to definitive Horse Hill flow test results

Alba noted that Angus has further advised that it will perform a seven-day well test on the horizontal Balcombe-2z well at Balcombe  - a project Alba does not hold an interest in - prior to commencing today’s approved work at Brockham.

The group said all operations at Brockham will be performed through conventional production and that there will be no hydraulic fracturing or "fracking".

In early afternoon trading, Alba Minerals shares were 6.6% higher at 0.56p, while Angus Energy shot up 26.8% at 11.25p.

Wed, 08 Aug 2018 13:45:00 +0100
<![CDATA[RNS press release - SCC Approves Planning Application for Brockham ]]> Wed, 08 Aug 2018 13:26:01 +0100 <![CDATA[RNS press release - Horse Hill Update ]]> Fri, 03 Aug 2018 11:30:05 +0100 <![CDATA[Media files - Alba Mineral chairman looks forward to definitive Horse Hill flow test results ]]> Wed, 18 Jul 2018 15:18:00 +0100 <![CDATA[RNS press release - Horse Hill Update ]]> Wed, 18 Jul 2018 14:00:03 +0100 <![CDATA[News - Alba Mineral Resources set to take a further 41% stake in Clogau gold mine ]]> Alba Mineral Resources PLC (LON:ALBA) has agreed to acquire a further 41% stake in Gold Mines of Wales.

Once the deal formally goes through, AIM-listed Alba will own 90% of the Clogau gold project which is located in the Dolgellau gold belt in Wales. The remaining 10% will be free-carried to commercial production, although could end up taking that stake further down the line.

READ: Alba to get cracking in Greenland

The project comprises the Clogau gold mine as well as a “large number” of highly prospective gold targets and former gold workings, with a total option area of almost 107km2.

The wedding bands of the Queen Mother, Queen, Princess Margaret, Princess Royal and Princess Diana were made from the same nugget drawn from the Clogau mine.

Alba is paying £650,000 in shares to Victorian Gold – the ultimate parent company of GMOW – as well as a one-for-three warrant option.

As part of the deal, Victorian has agreed to effectively write off the £1mln of loans it made to GMOW.

“For the first time in many years, the Clogau Gold Project is moving to the majority ownership of one company,” said executive chairman George Frangeskides.

“This will allow us more readily to progress the plan for re-opening the Clogau Mine, as well as making a push into regional exploration of the extensive and under-explored Dolgellau Gold Belt.”

He added: “We will not be depleting the company's cash reserves with this proposed acquisition, and the shares that will be issued on completion will be subject to lock up and orderly marketing restrictions for a seven-month period.”

Shares fell 2% to 0.39p early on Monday.

Mon, 16 Jul 2018 08:08:00 +0100
<![CDATA[RNS press release - Conditional Acquisition of Further Stake in GMOW ]]> Mon, 16 Jul 2018 07:00:05 +0100 <![CDATA[RNS press release - Holding(s) in Company ]]> Mon, 09 Jul 2018 11:44:04 +0100 <![CDATA[News - Alba Mineral Resources to get cracking in Greenland ]]> Exploration activities at Alba Mineral Resources PLC's (LON:ALBA) Thule Black Sands and Inglefield Land projects in north-west Greenland are scheduled to commence this month.

At Thule Black Sands, around 1,000 metres of drilling and sampling is planned.

READ: Alba Minerals raises £800,000 as it homes in on exploration targets in Greenland

It is anticipated that all samples will be split on site with the samples for assay being sent to independent laboratories for determination of heavy mineral content. Coarse reject material from the sampling will be stored off-site for future test-work.

Additional potential targets within the licence have been identified through a review of satellite imagery. These include a number of deltaic deposits feeding the coastline where it seems apparent that the source water course cross cuts numerous sills and dykes that are the source for the ilmenite in the region.

Alba intends to use the specialist equipment being brought to the site by the company's environmental consultants to collect some offshore samples from the sea bed, in order to test for the presence and grade of offshore ilmenite.

Alba is intending to collect up to 20 tonnes of bulk samples from various locations across the licence and as dictated by the drilling. The bulk samples will be used for future metallurgical test work.

During the upcoming fieldwork, Alba will be joined by a team of external environmental specialists who will commence the required studies to support a future Environmental Impact Assessment. The work planned will include the extensive collection of samples of flora and fauna.

At Inglefield Land, mapping and sampling of multiple targets prospective for cobalt, gold, copper, zinc and other previously identified anomalies will kick off.

#REMINDER: We will be hosting a shareholder conference call on Thursday 05 July 2018. Investors are invited to submit questions via email to by 17:00 tomorrow. Full announcement here: #ALBA #oilandgas #mining

— Alba Mineral Resources (@AlbaMinerals) July 2, 2018

"We are excited to get back into the field shortly for our first full-field campaign at Thule Black Sands, whilst also embarking on our maiden campaign at Inglefield Land, a project which contains targets for a suite of commodities, including cobalt, gold, zinc and nickel,” said George Frangeskides, Alba's executive chairman.

“We will be able to benefit from logistical cost savings in exploring both sites in north-west Greenland at the same time and look forward to reporting material results as and when they are available," he said.

Thu, 05 Jul 2018 07:35:00 +0100
<![CDATA[RNS press release - Notice of Shareholder Conference Call ]]> Thu, 05 Jul 2018 07:00:06 +0100 <![CDATA[RNS press release - Greenland Exploration Update ]]> Thu, 05 Jul 2018 07:00:05 +0100 <![CDATA[RNS press release - Notice of Shareholder Conference Call ]]> Thu, 28 Jun 2018 07:00:05 +0100 <![CDATA[News - Shares in Horse Hill partners, including Alba Minerals, Solo Oil, rise as latest flow test programme kicks off ]]> Shares in the partners involved in the much-hyped Horse Hill discovery in the southeast of England got a boost on Wednesday from news the long-awaited next phase of flow testing has begun, with all of the equipment needed to carry out the 150-day long-term campaign at the HH-1 well now on site.

Among them, Alba Mineral Resources PLC (LON:ALBA), which owns an 11.8% interest, saw its shares add nearly 4% at 0.26p, while Solo Oil PLC (LON:SOLO), owner of a 9.8% stake, rose 2.3% at 2.25p, and UK Oil & Gas Investments PLC (LON:UKOG), which has a 32.4% stake in the project, gained 8% at 1.35p.

WATCH: All eyes on Kimmeridge flow rates as Horse Hill testing gets underway

The latest programme at Horse Hill is a follow up to the 2016 testing, which saw aggregate oil flows at a rate of 1,688 barrels of oil per day (bopd) over short periods (three 30-90 hour tests).

The plan is to first re-establish flows from the Portland sandstone oil pool, with testing of the Kimmeridge Limestone 4 (KL4) and Kimmeridge Limestone 3 (KL3) oil pools to follow shortly after.

The purpose of the programme is to demonstrate the commercial viability from one, possibly two, wells.

In the best-case scenario, investors will want to see wells drilled and testing, yielding oil flows somewhere between 1,000 and 2,000 bopd.

READ: Horse Hill gets green light for production testing

If it is successful and assuming Horse Hill Developments (HHDL) – comprising a handful of small-cap companies – can secure the necessary funding, the plan is to move HH-1 into long-term commercial production in 2019.

More immediately, the intention is to follow up the longer term well test programme with new drilling – with the proposed Horse Hill 2 (HH-2) well designed as both an appraisal and future production well.

Similarly, if the upcoming tests prove successful, it is also anticipated that the existing Horse Hill well could be extended via a sidetrack.

What the bosses are saying?

George Frangeskides, Alba Minerals' executive chairman, commented: "We are very pleased that, following receipt of all regulatory approvals, HHDL has now confirmed that it has mobilised equipment to site and intends to commence the extended well test programme shortly.

"This test programme is designed to provide the necessary data to assess the commerciality of the Portland and the Kimmeridge zones at Horse Hill and, as such, clearly represents a key phase in the Project."

Solo chief executive Neil Ritson added: “We are extremely pleased to see that, following receipt of all regulatory approvals, HHDL has moved quickly to mobilise the necessary equipment and is now due to start the extended well tests in the immediate future.

“These tests, aimed at establishing commerciality, are a critical part of the pre-development phase and we remain enthusiastic about the potential outcome for our investors.”

And UKOG executive chairman Stephen Sanderson said: “UKOG remains confident that the comprehensive long-term production testing campaign will provide the necessary data to fully assess Horse Hill's Portland and Kimmeridge commerciality and help move the project towards timely production and positive cash flow.”

 -- Updates with share prices --

Wed, 27 Jun 2018 07:41:00 +0100
<![CDATA[RNS press release - Holding(s) in Company ]]> Wed, 27 Jun 2018 07:00:05 +0100 <![CDATA[RNS press release - Horse Hill Update ]]> Wed, 27 Jun 2018 07:00:03 +0100 <![CDATA[RNS press release - Appointment of Technical Director ]]> Wed, 20 Jun 2018 16:00:04 +0100 <![CDATA[RNS press release - Horse Hill Update ]]> Thu, 14 Jun 2018 12:30:01 +0100 <![CDATA[RNS press release - Holding(s) in Company ]]> Tue, 29 May 2018 14:16:51 +0100 <![CDATA[RNS press release - Result of AGM ]]> Fri, 25 May 2018 10:50:49 +0100 <![CDATA[RNS press release - Holding(s) in Company ]]> Thu, 24 May 2018 15:45:09 +0100 <![CDATA[News - Alba Mineral Resources wants to extend licence for Limerick metals project ]]> Alba Mineral Resources Plc (LON:ALBA) told investors that it wants to extend its licence for the Limerick base metal project in the Republic of Ireland.

The company, which holds 100% of the project via Aurum Mineral Resources, said that a review of the exploration results has identified up to five drill targets for a future work programme planned for the summer.

A licence renewal would give the company another two years, until May 2020, and it would require at least one or more of the target to be drilled - with at least €50,000 due to be spent on the project.

READ: Alba Minerals raises £800,000 

Before drilling can take place the company will need to complete an environmental screening report fir the Exploration and Mining Division of Ireland.

“Given the strategic location of the ground and the fact that we are able to test some of these targets relatively inexpensively, we have decided to seek a renewal of our licence,” said George Frangeskides, Alba executive chairman.

"The Irish mining sector has witnessed something of a resurgence in recent months, with increased activity within the established Irish Zinc District, in which Alba's Limerick Project is located.

He added: “The Irish Ore Field has been a major source of zinc production since the 1960s and is currently home to some of Europe's largest zinc projects including the Navan (Tara) zinc-lead mine (Boliden), the Pallas Green deposit (Glencore) and the past producing Lisheen mine (Vedanta) and Galmoy mine (Lundin Mining).”

Wed, 23 May 2018 15:07:00 +0100
<![CDATA[RNS press release - Offer to Renew Prospecting Licence ]]> Wed, 23 May 2018 14:30:10 +0100 <![CDATA[RNS press release - Grant of Options and Warrants ]]> Wed, 02 May 2018 16:09:16 +0100 <![CDATA[RNS press release - Issue of Equity ]]> Wed, 02 May 2018 11:01:50 +0100 <![CDATA[News - Alba Minerals raises £800,000 as it homes in on exploration targets in Greenland ]]> Alba Minerals Resources PLC (LON:ALBA) has identified four targets so far at its Inglefield Land licence in Greenland.

A review of historical sampling data highlighted anomalous grades of gold, copper, zinc and cobalt in the four areas.

WATCH: Alba Minerals' boss delighted Horse Hill pre-conditions have been met

Additional targets have also been identified and Alba will do more desktop-based geological and geophysics studies ahead of the start of fieldwork.

At Thule, Alba’s shoreline minerals sands licence in Greenland, near surface sample testwork showed ilmenite quality in a titanium dioxide content range of 45.6% to 47.4% with an average of 46.4% and low contaminants. This was Ilmenite quality and not final product grade, Alba added.

Ilmenite is the primary source of titanium dioxide, TiO2, used as a whitening pigment in paints, plastics and paper. Other uses include the manufacture of titanium metal. 

Alba will soon commence testwork on the two mini-bulk samples collected from the maiden sampling campaign.

Elsewhere in Greenland, conceptual geological models have been created for both Amitsoq and Kalaaq graphite targets

In Wales, a conceptual model has been completed for the Clogau Gold Project (49% owned) and initial regional exploration targets identified.

George Frangeskides, executive chairman, said: "A lot of work is being undertaken behind the scenes by our technical team as we refine our exploration targets in Greenland and Wales. 

“The ongoing testwork and data evaluation across our suite of projects has so far produced promising results.”  

Separately, Alba has raised £800,000 at 0.3p per share, money which has been earmarked for onshore UK oil and gas sector (Horse Hill and Brockham) and the mining portfolio in Greenland and Wales.

- updates for placing--

Wed, 02 May 2018 09:16:00 +0100
<![CDATA[RNS press release - Mining Projects Update ]]> Wed, 02 May 2018 07:00:14 +0100 <![CDATA[RNS press release - Notice of AGM ]]> Tue, 01 May 2018 18:10:51 +0100 <![CDATA[News - Alba Mineral reports on “exceedingly busy year” ]]> Alba Mineral Resources Plc (LON:ALBA) told investors it has had “an exceedingly busy year” as it advanced key assets.

In the onshore UK oil portfolio, the company invested in the Horse Hill and Brockham projects. The company said it has experienced “significant strides forward” for both projects.

Meanwhile, the mining side of the business remains a key focus for the company.

READ: Alba Minerals' boss delighted Horse Hill pre-conditions have been met

In the year, the company completed a two-phase exploration programme at the high-grade Amitsoq graphite project in southern Greenland and was subsequently able to report a significant new discovery.

The company also added interests in the Clogau gold project with an acquisition in the new year.

“Now we are working to bring some of our other key assets through the exploration and development phase and into the mining and production phases in the years ahead,” the company said.

“This is what we were formed to do as a company, and it remains a key objective for Alba as we seek to create real value for our shareholders.”

Thu, 26 Apr 2018 15:45:00 +0100
<![CDATA[RNS press release - Final Results ]]> Thu, 26 Apr 2018 14:30:04 +0100 <![CDATA[News - Alba Mineral Resources raises £750,000 to advance natural resources portfolio ]]> Alba Mineral Resources Plc (LON:ALBA) has raised £750,000 of new capital, with the issue of 250mln new shares priced at 0.3p each.

The investor in natural resource assets said the injection of cash would be principally used to advance its portfolio of assets including the Horse Hill and Brockham oil projects onshore UK as well as its mining assets in Greenland and Wales.

READ: UK Oil & Gas, Alba Mineral Resources advance in early deals after Horse Hill update

It added that the new shares will be admitted to trading on London’s AIM market around April 13.

In recent weeks, Alba has strengthened its oil and gas team with new appointments that have brought in valuable sector expertise. At Horse Hill, the oil field partners recently had confirmation that a planned work programme had met the conditions for local government clearance.

Alba has a 5% stake in the Brockham project, where the operator Angus Energy today provided an update - the field has resumed production at 21 barrels of oil per day, and is expected to rise up to 35 bopd.

The Brockham partners are waiting on bureaucracy, with processes underway at Surrey County Council regarding permissions for surface activities for the BR-X4 well.

It has also highlighted “really good” progress with the Clogau gold project, in Wales, and gained important insights at the Thule black sands project in north west Greenland.

Thu, 29 Mar 2018 08:36:00 +0100
<![CDATA[RNS press release - Brockham Update ]]> Thu, 29 Mar 2018 08:00:02 +0100 <![CDATA[RNS press release - Issue of Equity ]]> Thu, 29 Mar 2018 07:00:04 +0100 <![CDATA[Media files - Alba Minerals' boss delighted Horse Hill pre-conditions have been met ]]> Fri, 23 Mar 2018 13:04:00 +0000