The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Got my units confused: they've explored 6 miles (not kms) out of about 30 kms.
A did a quick calc to find out mkt cap of Alba pre colgau acquisition of 49 pc stake. Mkt cap was £12.5m in sept 17. It now controls 90pc of that one plus gwynfynydd, and found some tailings, for £16.5m mkt cap today.
And to put this in further perspective:
1/ the 2012 report estimated a top-end-of-the-range potential of about 500,000 ounces. But this was before the work undertaken by Alba;
2/ Alba's exploration of the gold field has covered about 6 kms out of about 30 kms.
So the ideal is for Clogau to re-start commercial operations and generate the funds to undertake major exploration of the Dolgellau gold field.
Might as well complete the sequence, so this is from the 3rd RNS re the gold anomalies, that of 18/06/19:
-- The full sampling programme has identified nine new anomalies that are not associated with any significant historic mining.
-- Weighted average grades for all the new anomalies are well above the average gold-in soil grades for Clogau-St David's and the other historic mine areas.
-- The latest results show extensions to the previous gold-in-soil grade anomalies and new anomalies have been identified to the west of the sampled areas.
-- Gold mineralisation has now been confirmed across 6 miles along the strike extent of the Dolgellau Gold Belt and from within multiple geological units...
Alba's Executive Chairman, George Frangeskides, commented:
"We now have all results in from Phase 1 of our regional gold exploration programme at Clogau. In total we have identified no fewer than nine new gold anomalies that are not associated with any significant historic mining, with these results now confirming gold mineralisation over six miles across the Dolgellau Gold Belt. This is a great result." ...
After the RNS of 29/04/19, this is from the next RNS reporting on the Dolgellau gold field anomalies, that of 29/05/19.
At the time, one had become accustomed to quite dry and detailed RNSs from Alba, so for GL to use the phrase "genuinely exciting" caught the attention:
Alba's Executive Chairman, George Frangeskides, commented:
"Our regional exploration of the Dolgellau Gold Belt continues to bear fruit. We have now confirmed mineralisation across around six miles of the Gold Belt, and in total have identified seven new mineralised zones which are not associated with historic mine workings. The fact that the average grades for those zones exceeds the equivalent grades obtained over the Clogau-St David' s mine itself is genuinely exciting." ...
LodesOrLoads,
Alba have been very bullish about prospects at Clogau and the Dolgellau gold field for more than 2 years, imho, (I would date it back to the discovery of 10 new anomalies in the field, the first discovery of such anomalies being reported in the RNS of 29/04/19).
All the work done in Wales since the end of the first lockdown appears to have either confirmed or exceeded their expectations, hence their narrowing focus on Wales.
Given their actions and the tone of their reports, it seems to me they already know Clogau is a commercial proposition. And, then, there is the "vast" potential of the Dolgellau gold field.
We all do and I think we need to see the intent so we’re not being tricked.
Get Clogau up and running as a commercial venture and they can employ some of the cash generated in the further exploration and exploitation of the Dolgellau gold field.
The potential here is, in a word used by Alba themselves, "vast".
Poor volume considering recent news flow. Hopefully pick up after this summer period.
Another good RNS with bugger all response from the market.
Scrolling down the RNSs, as of yesterday, all of Alba's portfolio is now 100%-owned except for:
1/ Clogau: 90%
2/ HH: 11.765%
Thanks to Scotalba for mentioning this at 10:31 today: "I have strongly believed for some time that Dr Simon Dominy (Honorary Associate Professor) is involved with this/us, he is the oracle when it comes to finding and extracting gold from quartz in Wales. " I was wondering who might be guiding our wet behind the ears MSc student. If so it might be useful to see Dr Dominy brought onto the ALBA board as a NED.
I am enjoying Alba being in a period of positive news flow. Fingers crossed that it continues.
I am happy to see the team getting Camborne School of Mines involved - should be an interesting project for the MSc student, although, like politicians and bureaucrats, they need to be kept under tight supervision. :-)
Yeap, from strength to strength. Good to see this.
such a great share and only going in one direction :) hold or top up / buy