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Anyone knows what's going on?
Yes its the mining sector... nothing happens quickly.
Look at recent rns one of them was quite clear of what’s going on at clogau and from the others we can deduce they are doing some form of exploratory research to value the Australia licence option within the 30 day period given. That’s a fixed date end date to know we should hear something
There have been a lot of complaints and criticism of Alba here recently and of course those people are entitled to hold their view and argue their case. I am heavily invested in Alba and hold the opposite view, that the company is grossly undervalued, particularly given the results of the recent sampling on level 4. It is partly because there is a difference of view of the company's prospects that there is an opportunity to make or lose money here. If we all held the same view then the "efficient market" hypothesis tells us the the SP would be at some relatively fixed level reflecting the true value of the company and there would be little opportunity to make money.
Over the coming months Alba is planning a major sampling exercise on and below level 4 of 150 -200 tons of rock. A sample of 150 tons at the lowest grade of 2.87 oz/ton in the RNS of 26/3, with gold at £1800 per ounce, will produce gold worth in excess of £750,000. A sample of 200 tons at the highest grade of 4.3 oz/ton in the RNS of 26/3, with gold at £1800 per ounce, will produce gold worth in excess of £1,500,000. That doesn't take account of costs or of the Clogau premium
Apart from these very encouraging figures, Alba have also made what I think is an extremely significant statement about. the level 4 samples that "The Company is greatly encouraged by the fact that these high grades are from ore that did not contain visible gold and is interpreted as being part of the background gold population." There may be significant amounts of gold still available in the rock at level 4.
For those who are currently disappointed I hope you will soon be able to exit with your money back. For the rest of us I think our gamble will pay off "bigly" in the not too distant future.
Agreed @Jaffa3, I find your posts always worth reading. I am very encouraged to see Alba have appointed Mr
kobus byleveldt as our Mine & Operations Manager, thanks for that information @ followthevein .
Kobus originates from South Africa and began
his mining career in 1982. Over the course of
Kobus’ extensive career, he has worked in 7
gold mines and brought his breadth of skills and
experience to Scotgold 3 years ago.
Whilst initially employed as Mining Supervisor,
Kobus’ extensive experience resulted in several
role changes and Kobus now presided as
Mining Manager over a 3 shift team operating
24/7 on site.
Average of 8.75 employees each month in the year to 30/11/23.
The appointment of Kobus Byleveldt is important news, Alba is gearing up.
Would be very strange to appoint this guy if theres nothing there to mine, so fingers crossed there is some lovely shiny stuff down there
" am heavily invested in Alba and hold the opposite view, that the company is grossly undervalued, particularly given the results of the recent sampling on level 4. "
Yeah? the results where George said the following
"It's a phenomenally good result (the results from March 26th RNS) no it's not a decision that leads us to reopen the mine, we need to go and do the bulk sampling below level 4 to find a much bigger zone of that kind of grade, but it gives us a lot of confidence in the ability to find that grade""
The high grades mean nothing because the zone is too small and not economical is my interpretation of that?
And let us not forget Stellar Resources more than a decade ago in **2013* got these grades
"The most eye-catching sample from the re-opened Clogau mine in the Principality was 749 grams per tonne of the precious metal, which equates to 24 ounces per tonne."
The big question for me was why are they wasting time and money sampling areas they know are uneconomical to mine even if they deliver good results.
The AGM is on 31/05 at 9am. If you are able to attend, then you should be able to put your question to the board on that occasion.
Absolutely Ocelot, its VERY big news appointing Kobus Byleveldt, you don't have to read between the lines to know what that means. He seems highly regarded from what I have found out.
Cheers Robbie for the update nice to know you get a reply from Alba HQ.
My Pleasure @Scotalba 👍
I too believe the Appointment is a step in the right direction.
Kobus Byleveldt has vast experience, must of been impressed by the data of the Quartz Zones below Level 4, The New Branch and the untouched extensions of mined quartz veins.
I wished Alba had announced the New appointment via FocusIR or LSE Donald Leggatt.
The last Interview with Donald Leggatt, i was expecting an Update on Clogau but never materialised. Due to the Lithium Licences news.
This is why excellent Scotalba updates are appreciated. I also see the frustration from a few also.
A Video update of the Llechfraith levels would be excellent Mark Austin 👍
We all thought the appointment of Vivienne Johnston the ' mine to market', gold expert was a positive step a year or two back and what did that achieve ?
Hope this latest appointment is not another disappointing smoke screen.
Vivien worked for ScotGold I wonder if she has brought Kobus onboard