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George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’
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From the RNS of 6/08/19:
Alba's Executive Chairman, George Frangeskides, commented:
"The completion of this extensive exploration programme over the Dolgellau Gold Belt has confirmed what should already have been apparent from previous announcements: Alba's licence area has serious potential to host one or more new gold deposits that could rival the historic Clogau-St David's Mine in importance. The fact that the Cerys-Gwyneth anomaly trend is four times the size of the anomaly over the Clogau Mine should need no further explanation."
I would imagine we'll see a lot more mm games leading up to and after the results are announced.
Nevertheless, the fundamentals are sound.
Will there be further placing., yes well need it for clogau development and Greenland. Its not to be unwelcome, I'd rather that than a pile of debt
My personal suspicion is that "huge" means more than the 500k ounces of the 2012 report which was the basis for the Daily Telegraph's article, but, then, I'm positive on Alba!
sorry that was in reply to the MC of c. £23M from herekitty
this was before recent more intensive mine workings, before the sampling for trench targeting and before the additional funds through the placing which mean the capital should be there to move to next stage. I'm fully loaded in Alba and watched the SP drop to 0.29 early doors but could not even buy 100k at that price... look now, slow recovery , placement did not go away so fundamentals at work here imho
Whereas the company has stated it will not report results until all complete, it would be very probable they'd have some idea by now. Now, would they seek funds to expand a mine if they didn't have a reasonably strong belief in a successful prospect. Bear in mind its not their only prospect. In fact I'd argue Greenland has a potential of being the star.
I'm quite happy for mm to supply me shares at 33p my last top up, when the nuggets are being mined
Their use of that particular word is very interesting, they are an experienced team.
Just about the only indication we have from Alba themselves is that of the Dolgellau belt's "huge" gold potential.
Alba are always measured in their statements, so "huge" does mean "huge", for each reader to interpret the word as they think best.
With a major exploration campaign now underway, Clogau's valuation is at an inflection point. Given the bonanza grades previously encountered, the very encouraging surface findings and the amount of exploration being done, ALBA has an excellent chance of discovering a significant amount of Welsh gold which would massively increase the value of Clogau and ALBA. That's why this is an excellent time to be invested here.
I had to google fervently ha ha. Thanks for the new word in my vocabulary.
No estimates for the amount from the company.
The Daily Telegraph wrote of 500k ounces, but that dates back to a study of 2012, so pre-dates the work done by Alba:
https://www.telegraph.co.uk/news/2020/05/24/gold-mining-company-lodge-planning-application-dig-snowdonia/
Looks like it's heading for a blue finnish ! Gla
Good spot but I think we are all fervently hoping they break the pattern of the last few years and produce something that has income and profit attached to it!
Sorry forgot to add Page 17 is a great map but is there any estimates on the amount?
Thanks
Found this - "we value the Group’s projects at a total of £23.2m" from 3 months ago
https://www.albamineralresources.com/ul/Alba%20Mineral%20Resources%20Research%20Note%20-%20First%20Equity%20Limited%20(June%202020).pdf
of which Clogau is a surprisingly low £3.1m?
Also checked company reports & £0 revenue for 15 years - how have they managed this?
I'm still in profit 24% up but wondering looking at the history if the exploration will mount to nothing?
RNS every year to place shares to raise funds with no income from explorations.
Is there any new data on Clogau as this report for 3.1m seems incorrect?
Huge regional gold potential
Av. grades for 10 new anomalies (inset map, yellow areas) exceed those for known mines – strike length of largest new anomaly is 2km (4x larger than Clogau mine)
From page 17 of the August UK gold assets presentation:
https://www.albamineralresources.com/ul/Alba%20Presentation%20-%20UK%20GOLD%20ASSETS%20(AUG%202020)%20FINAL.pdf