Alba Mineral Resources PLC jumped almost 50% on news it has been granted the ecological permits required for the planned dewatering and associated exploration of the Lower Llechfraith workings, its primary target within the Clogau-St David's Gold Mine in north Wales.
The company noted that the ecological permits granted at Clogau comprise a European Protected Species Licence (EPSL), Water Discharge Permit, and Water Abstraction (or Transfer) Licence, in relation to the dewatering and associated exploration of the Lower Llechfraith workings.
It said a technical team and contractors are now undertaking the necessary on-site preparations so that the dewatering exercise may commence as soon as possible.
In a statement, George Frangeskides, Alba's executive chairman, commented: "Detailed planning has been in train for some time so that we did not lose time once the permits were granted. Accordingly, we are well placed to complete our preparations on site and commence the dewatering exercise within a matter of days."
Around 8.55am, Alba shares were 48.3% higher at 0.17p.