logo-loader
Alba Mineral Resources plc

Alba lifted as it shifts focus to Clogau for rest of 2019

Preparations are already underway for an underground exploration programme at the Welsh gold project

Alba Mineral Resources plc - Alba lifted as it shifts focus to Clogau for rest of 2019
Soil testing at Clogau in early August indicated a strike four times longer than the UK’s most prolific gold mine

Alba Mineral Resources plc (LON:ALBA) shares were lifted on Wednesday by an upbeat update in which it said it would be focusing on the development of its Clogau gold project in Wales.

George Frangeskides, executive chairman of the AIM-listed explorer, said “excellent results” from the project over the last year had reinforced its “enormous potential” and, as a result, the firm would be focusing its field work for the rest of 2019 on Clogau, with preparations already underway for an underground exploration programme at the site.

READ: Alba Mineral identifies 4km gold strike, plans reopening of historic Welsh mines to boost cashflow

The decision to focus on Clogau follows news in early August that soil testing at the site had indicated a strike four times longer than the UK’s most prolific gold mine.

The firm would also be focusing on technical studies to refine products and markets for its Amitsoq and Thule Black Sands projects, both located in Greenland.

"Our overriding objective will be to continue to deploy the Company's funds towards the fast-tracking of those of our assets that can most quickly move into the development and production phases”, Frangeskides said, adding that the company would also consider selling some of its assets “if the right opportunity arises”.

In mid-afternoon trading, Alba’s shares were 3.7% higher at 0.18p.

Quick facts: Alba Mineral Resources plc

Price: £0.00

Market: AIM
Market Cap: £7.23 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Alba Mineral Resources plc named herein, including the promotion by the Company of Alba Mineral Resources plc in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Alba Mineral Resources releases maiden resource for Thule Black Sands project

Alba Mineral Resources plc's (LON:ALBA) chairman George Frangeskides talks Proactive London's Andrew Scott through a maiden resource that's been released for the Thule Black Sands (TBS) project in north-west Greenland. The study reveals a 19mln tonne inferred resource comprising 43.6%...

on 15/5/19

2 min read