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Pin to quick picksAlba Mineral Resources Share News (ALBA)

Share Price Information for Alba Mineral Resources (ALBA)

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Share Price: 0.0675
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AIM WINNERS & LOSERS: Alba Mineral rises on Clogau ownership deal

Tue, 23rd Aug 2022 10:59

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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AIM - WINNERS

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Alba Mineral Resources, up 15% at 0.185 pence, 12-month range 0.12p-0.3p. Agrees to take full ownership of the Clogau gold project in Wales. Alba also agrees to buy back a 3% net smelter return royalty owned by the vendor, reducing its royalty to 1%. Alba will pay GBP400,000 via the issue of 200 million of its shares at 0.2p each, being a 25% premium to Tuesday's closing price. "It is a measure of our confidence in the long-term prospects for the Clogau gold project that we have taken the opportunity to move to 100% ownership of the project," says Executive Chair George Frangeskides.

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Power Metal Resources PLC, up 9.5% at 1.643p, 12-month range 0.77p-2.31p. Says preparations for first Power Metal managed and operated diamond drill programme at Molopo Farms are "advancing at pace" and the start date for drilling to be announced soon. The drilling will target the core of the new conductor, immediately south of K1-6, with multiple drillholes planned of varying positions. Chief Executive Paul Johnson says firm is looking to startt drilling "as soon as possible".

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AIM - LOSERS

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Artemis Resources Ltd, down 11% at 2.09p, 12-month range 1.44p-5.00p. Stock closed up 2.5% on Monday, recovering from an intraday low of 1.9p, after saying no significant nickel or copper results were found in laboratory analyses of samples from the first drill hole at the Osborne nickel prospect.

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FD Technologies PLC, down 1.5% at 1,645.42p, 12-month range 1,276.14p-2,620p. Berenberg upgrades its recommendation on the stock to 'hold' from 'sell', flagging "good potential" but also execution risk. "While we upgrade our numbers in line with consensus and also our price target, we also note the execution risk involved, especially going into a slowing economy," says Berenberg.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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2 Apr 2024 19:33

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Alba reports progress at Clogau-St David's Gold Mine

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22 Mar 2024 13:41

IN BRIEF: Alba Mineral to start sampling of Llechfraith gold target

Alba Mineral Resources PLC - northern Europe-focused mineral explorer - Will start sampling of the Llechfraith Target and trenching of the Clogau waste tip at its 100% owned Clogau-St David's gold mine in north Wales. Adds that processing and interpretation of the airborne geophysical survey undertaken over its key regional gold targets continues, with results expected from the first survey site, Clogau, at some point next week.

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IN BRIEF: Alba Mineral Resources gains de-watering permits in Wales

Alba Mineral Resources PLC - northern Europe-focused mineral explorer - Natural Resources Wales grants permission for formal variations to existing discharge and abstraction permits. This will enable Alba to de-water the Lower Llechfraith workings, the principal gold target at its Clogau-St David's gold mine in north Wales "at significantly higher rates" of up to 250 cubic metres per day.

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IN BRIEF: UK Oil & Gas gets extension for Horse Hill oil field work

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Pennpetro and UK Oil & Gas agreed extension of Horse Hill farm-in deal

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IN BRIEF: Alba Mineral hopes for Lower Llechfraith dewatering permit

Alba Mineral Resources PLC - Northern Europe-focused mineral explorer - Hopes to enter the final leg of the dewatering permit process regarding Lower Llechfraith before the end of the year. Says geophysical survey over key original gold targets is underway, while survey for the Clogau target has been completed.

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GreenRoc raises GBP460,800 in placing towards feasibility study

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