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If only it was as simple as that, sell up and move on. Name one holder who is even or up on their investment just one.
We had a placing on 5th july last year for 750 k straight after that little spike from d permit. Vast majority of that would have been spent on pointles consultants fees and a small portion on pumping out the water.
If you add the 350 k or so raised last time it equals 1m gbp needed just to keep GF and his mates ongoing.
As of now alba sp is aroung 5,6 milion gbp. It will take aroung 5 years at this pace to send the share price to absolute zero.
Some investors seem happy enough with the status quo.
I think is vvery sad watching my saving desimate away at speed with little to show for it.
Would have felt much better if it was donated away to starving kids in Gaza.....
There is a lot of whinging here about raises and no instant price gratification. So I thought I might post a thread to help set some expectations as there is a lot more 'stuff' going to happen before we (maybe, possibly) arrive in the promised land of Clogau production.
1. Raises
Alba does not have any income. Their only realistic way of paying for day to day operations plus any new activity is via issuing new shares in rounds of raises. The approach they are taking to raising money is piecemeal, that is possibly several times a year they will need to issue shares. The alternative is that they take a wild assed guess on the whole project funding and try and raise it all in one go. They have literally zero chance of succeeding with that whilst extensive regulatory barriers remain, and the ore body remains unproven in value.
2. Proving the ore body
Sampling that is happening now will show that some gold is present. However extensive and expensive drilling will likely be necessary if they need to prove the in place resources in order to raise a proper level of capital. The only way to pay for that drilling program is #1 above
3. Planning Permission
Assuming they find enough gold to be worth their while reopening the mine, and it is not guaranteed they will no matter how hopeful we all are, they will have to apply for planning permission to do so. Given how long it took to get permission to dewater the lower levels, we can't expect this process to be quick, and possibly not even successful without appeal. Locals may protest about increased traffic, noise, blasting, displaced bats, otters with too much water to swim in, or even that George doesn't speak good enough Welsh.
4. Funding
Once they have a proven resource, and all regulatory approvals to reopen the mine, they will need to buy mining equipment and employ miners. That will mean a more serious level of #1 than before, likely to involve raising millions rather than thousands. Depending on how they approach this, the minimum level would be maybe £5m, but could be as much as £15-20m. I can't see it being more as the mine is already there, they don't have to sink shafts or build access roads etc. It will all be about extraction and processing machinery which will probably be relatively small scale.
5. Commissioning Opex
Even when all the kit is bought, there is a period between buying all the stuff and getting it all working. That may last 6 months to a year, and be subject to regulatory oversight. Employing lots of people and having lots of kit lying around before you actually start generating much money is expensive. Expect another £5m at least needing to be raised.
So in terms of time from here to a working mine I'd guess a minimum of 3 years. In terms of money needing to be spent, as a guess I would say a minimum of £15m and possibly up to £30m to get the mine back in action.
The trick is that the underlying enterprise value should increase as each stage abo
Cjen, it’s frustrating what’s happened to the share price for sure but stop & consider how far we’ve come - George raises when needed & we actually have gold now (not that long ago we didn’t know if we’d even get license approvals) - As the gold appears the share price/sentiment will rally - Personally I wished George would offload HH oil to fund development & the directors buy in at a higher raise price - This is a silly buy-in price now considering we are bulk-sampling L4 (there could be some decent gold in the bulk samples & waste pits yet) - GLA
Take it out now if that's how you feel. If you think it will only go backwards why are you still here?
If you no longer believe in the reason you invested then stop investing, simple really.
He crashes the share prise with every raise and raises on every positve outcome. A ROI is vitually imposdible with Alba as many will testify.
I wish someone had told me before I sank any of my money into ALBA.
Things moving at quite a pace now.
Some of the potential income figures are very large and we still have a stake of over 40%.
Disagree he raises per each portion of the project the raise before last was for rehab that’s ticked money diminished from it now the raise is for the bulk sampling expect a raise in about 6 months for the next phase unless he is pushing some kind of small production. He only raises “small” each time to do whatever is next on the agenda
Someone is investing some cash today.. good things to come!
Robbie2017 I admire your optimism but George seems to raise whenever there is good news. If we are indeed to go mining, and I sincerely hope we are, then the reality is we will need more funds.
It's almost as though the CEO wants to suppress the SP........crazy!!
Must be close on £2 million of gold from the raise last week. Seems like money well spent
Indeed all those around 0.68ish are buys, same on Thu when the whole day was pretty much solid buys - not sure why we aren’t ticking up but guess the market is still absorbing the recent raise so be a few days before we tick-up - we have gold incoming (lots more results to come) & a raise is out the question now for several months so George ‘shouldn’t’ be raising on any incoming good news… GLA
The lse buy/sell chart is useless.
.0068 is a buy today, the sint trades have distorted the actual view of the market yet again.
Look at this fly, not :(
Looks promising. I bought a small amount earlier this morning but its not showing at all on the buy/sell chart.
Dolgellau Gold Exploration Update
New Targets Identified Through Airborne Magnetic Surveys
Alba Mineral Resources Plc (AIM: ALBA) is pleased to announce three gold targets which have been identified from the review and interpretation of the first part of the magnetic data generated during Alba's recent airborne magnetic survey of certain high-priority gold targets across the Dolgellau Gold Belt ("DGB"). Two of the targets are located within the envelope of the Company's 100% owned Clogau-St David's Gold Mine in north Wales ("Clogau" or the "Mine") and represent the potential definition of new drill targets within the Mine. The third target has been identified on a fault that extends 4 km northeasterly in the DGB and thus falls within the Company's 100% owned Dolgellau Gold Exploration Project.
Key Points
· Alba commissioned airborne magnetic surveys over the Clogau, Castell Carndochan and Hafod Owen prospects, located in the DGB. These were flown between November 2023 and January 2024.
· As the target gold quartz veins are not magnetic, proxy structures (as in proxies for gold) are looked for in the magnetic data. In the case of Clogau and the DGB, discontinuities in the magnetic sill basement can be used as proxy markers for the possible presence of mineralised quartz veins and therefore worthy of further ground investigations.
· The two in-mine targets may merit follow-up underground drilling to define potential new economic zones of mineralisation. The third target will be subjected to basic ground exploration involving geochemical sampling and mapping and ground-truthing for the presence of any outcropping quartz vein.
· These new targets identified to date only relate to one part of the completed airborne magnetic survey. The interpretation of the survey data over the Carndochan and Hafod Owen prospects is awaited and will be reported on in due course.
Mark Austin, Alba's COO and Senior Geologist, commented:
"The airborne magnetic survey that we recently carried out over some of our key targets over the DGB is the first survey of its kind since the regional survey that was undertaken by the British Geological Survey in the early 1970s. Given advances in technology, this latest survey has revealed a lot more detail than was generated by that earlier survey. Thus, we now have data guiding us to the identification of specific exploration targets.
"The three targets that we have identified over the Clogau-St Davids survey area make a lot of sense in the context of the overall geological model we have developed over the years. From the drilling we carried out in 2021, we were able to identify vein structures parallel to the main Clogau vein, and this has now been corroborated by the aeromagnetic survey data. The advantage of two of the targets being in-mine is that we should be able to access them by the drilling of some short holes from the existing underground development, a much quicker and most
I hope they come through but I'm not putting any money near this management team ever
Wasnt too many years ago people were talking about it reaching 5p to 10p, now most would be happy with .5 p lol,happy easter to all
Yes it will have a cost and a cost exceeding the Current funds.
Your forgetting
• the majority of the mine is built so lower costs than a normal mine they will need to extend existing shafts and drive a few adits. Where at level 4 and the gold on previous sampling is about level 5/6
• premium on gold price
•this is not supposed to be a big operation small and steady production carefully controlling the market to keep the premium intact so will be more slow rather than some big mines certainly not 800mil a year which I would put in the medium sized mine.
I suggest you do some research else you maybe disappointed if you think this will be moving at the same speed and size of other gold companies in the sector.
Ask yourself how much will it cost to mine 1oz of gold then work out how much gold they need to break even.
Idiot.
Get your facts right before posting, the mine is already there, it won’t cost 800 million, your bloody dreaming
Total idiot
New man in charge of the Welsh Government now, give him a chance.
Coming back a bit currently:
https://www.kitco.com/charts/gold
This will never be an 800 million pound mine. The locals won’t allow it. The Welsh government won’t allow it, the environmental weirdos won’t allow it. It will only ever be a small hole in the ground.
Don't waste your time or money on Alba, find something else. You might get some good tips from Baron Investments on Twitter. This has nearly 8bn shares in issue so a consolidation is coming. How much money do you think they need to build a working mine? £100m £200m probably more like £800m.