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Alba Mineral Resources raises £750,000 for “project acceleration activities”

It comes as the company's more advanced assets continue to see progress and activity
oil and gas operations
Some 227,27mln new shares were sold at a price of 0.33p

Alba Mineral Resources Plc (LON:ALBA) told investors it has raised £750,000 through the sale of new equity.

The company, in a statement, said the placing proceeds would be used primarily for “project acceleration activities” at the Clogau Gold Project in north Wales and the continued support for the company's investments in the onshore UK oil and gas sector – namely its stakes in the Horse Hill discovery and the Brockham oil field.

READ: Alba Mineral Resources stake in Horse Hill should not be overlooked

It also expects to support the company’s interests in the Thule Black Sands and Inglefield polymetallic projects.

Some 227,27mln new shares were sold at a price of 0.33p each.

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