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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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TRADING UPDATES: GreenRoc bullish on asset; Esken eyes Renewables sale

Tue, 31st Oct 2023 16:47

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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GreenRoc Mining PLC - UK and Greenland-focused mineral explorer - Reports "extremely positive results" from preliminary economic assessment at Amitsoq graphite project in southern Greenland. Reports pretax net present value at 8% discount rate of USD235 million. Life of mine is 22 years, "with potential to extend through resource expansion". Study suggests average net revenue of USD89.8 million per year throughout 22-year mine life. Study suggests total gross revenue of USD2.1 billion. GreenRoc adds: "The strong economic results from the PEA provide independent validation of the project's potential to become a globally significant producer of graphite concentrate. Simultaneously, GreenRoc continues to advance its objective of developing the processing capabilities to upgrade its future graphite concentrate production into anode material for electric vehicle batteries, which the company believes will add substantially to the positive economics of the Amitsoq project." Alba Mineral Resources PLC, a 43%-shareholder in GreenRoc, notes announcement.

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Esken Ltd - Liverpool-based infrastructure, aviation and energy services - Says in "advanced discussions" with Pioneer Point Partners over possible disposal of Esken Renewables. It adds: "Should the group complete the disposal of Esken Renewables, the net proceeds would be used to: repay the committed funding drawn under the group's facilities agreement with the specialty lender and associated costs; further contribute to the group's defined benefit pension scheme; and provide additional working capital in the short term." Update followed a Sky News report which stated the Southend Airport owner was in talks to sell the renewables unit for up to GBP100 million.

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Atome Energy PLC - Green hydrogen, ammonia, and fertilizer project development in Paraguay, Iceland, and Central America - Front-end engineering design for Villeta project in Paraguay "nearing completion". Atome says engineering, procurement and construction talks are at an "advanced stage". Atome says an environmental licence granted, with tax-free zone status "expected shortly". "The board is increasingly confident that the debt financing component of the project can be achieved," it adds.

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Technology Minerals PLC - London-based battery metals mining and recycling firm - Pretax loss in year ended June 30 widens to GBP3.9 million from GBP1.8 million a year prior. Administrative expenses more than double to GBP3.9 million from GBP1.7 million. Chief Executive Alex Stanbury says: "It has been another year of significant progress for Technology Minerals. We continued to advance our range of exploration assets focused on key battery metals, moving them up the value curve with particularly good results at our lithium asset in Leinster, Ireland. In addition, Recyclus has now completed the commissioning phase for fully automated operations at its lithium-ion battery recycling plant in Wolverhampton, while at the Tipton lead acid facility, Recyclus has entered the commissioning phase after receiving final EA approval for industrial scale automated operations."

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Velocys PLC - sustainable fuels technology - Updates on financing progress. Says there will be no further extension to the convertible loan notes long stop date, and any investment is unlikely to be on the same terms as the previous CLNs. Currently has no binding arrangements for funding, which will be required before the end of the calendar year. Its discussions with strategic investors continue.

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Goldstone Resources Ltd - Ghana-focused gold producer and explorer - Continues to pursue funding proposals so it can extend, renegotiate or refinance the outstanding secured gold loan from principal creditor. Loan is due for repayment on November 10. Says while still in talks with creditor, Goldstone's auditor will be unable to finalise audit for 2022 results. "The company will therefore not be able to publish its accounts in advance of a suitable solution being reached," it adds. Goldstone continues: "Whilst the board is in active discussions with stakeholders to achieve an appropriate solution with respect to the gold loan and the provision of additional working capital for the company, there can be no guarantee that such an agreement can be reached or additional working capital provided." Says security of primary assets "could potentially be enforced" should gold loan and accrued interest not be repaid or rescheduled before deadline.

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Great Southern Copper PLC - focused on copper-gold and lithium exploration in Chile - Says has "consolidated" concession area in Chile's Salar de Atacama district, an area which hosts "the world's largest reserves of lithium". Says new exploration concession filings increase Monti Lithium project to 33,100 hectares. CEO Sam Garrett says: "We have moved quickly to expand the Company's position within this significant lithium-producing jurisdiction. Our applications have strategically targeted areas where we believe the potential for lithium-rich brine fluid-flow into the Salar de Atacama basin is enhanced by large-scale geological structures."

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By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
16 Oct 2023 12:43

GreenRoc gets green light for exploration licence in Greenland

(Alliance News) - GreenRoc Mining PLC on Monday said it was given the green light from the Greenland government to expand its Amitsoq graphite project.

Read more
9 Oct 2023 13:30

IN BRIEF: GreenRoc wins grant; Alba Mineral notes announcement

Alba Mineral Resources PLC - UK and Greenland-focused mineral explorer - Says its portfolio company, GreenRoc Mining PLC, has been awarded a grant by the UK's Automotive Transformation Fund to part-finance a feasibility study into the establishment of a graphite spheronisation processing plant to produce active anode material in the UK from graphite concentrate delivered from GreenRoc's Amitsoq graphite project in southern Greenland.

Read more
18 Sep 2023 20:09

IN BRIEF: Alba Mineral says request refused by Welsh regulator

Alba Mineral Resources - Northern Europe-focused mineral explorer - Gives update on the dewatering and associated safety and access works at its primary target within the Clogau-St David's gold mine in north Wales. Notes that its request for temporary extension to higher rate abstraction to take account of exceptionally heavy rains in July and August was refused by Natural Resources Wales, an environmental regulator. Meanwhile, Alba Mineral starts emergency abstraction to protect safety and access works that were completed on levels 2 and 3 prior to workings reflooding. Further, due to delays in approval for its drone from the civil aviation authority, pushes back the proposed airborne geophysical survey over some of its gold deposits to October.

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18 Sep 2023 10:57

AIM WINNERS & LOSERS: Orcadian surges on deal for Pilot field

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

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17 Aug 2023 10:39

Alba Mineral turns to statutory profit due to accounting standards

(Alliance News) - Alba Mineral Resources PLC on Thursday reported a statutory half-year profit due to accounting standards relating to the loss of its majority stakeholder status in GreenRoc Mining PLC.

Read more
16 Aug 2023 11:46

Heavy summer rain slows down dewatering at Alba Mineral gold mine

(Alliance News) - Alba Mineral Resources PLC on Wednesday said it needs more time to complete dewatering at one of its mines after this summer's "exceptionally heavy rainfall."

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16 Aug 2023 11:02

AIM WINNERS & LOSERS: Belluscura receives orders for 6,500 Discov-R

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

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16 Aug 2023 07:52

LONDON BRIEFING: Admiral's interim revenue climbs 14% year-on-year

(Alliance News) - Stocks in London are expected to fall at Wednesday's open, in line with declines seen across global equities.

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2 Aug 2023 13:32

IN BRIEF: GreenRoc Mining raises GBP470,000 through placing

GreenRoc Mining PLC - mining company with operations in Greenland; portfolio company of Alba Mineral Resources PLC - Raises gross proceeds of GBP470,000 via placing of 12.4 million shares at a price of 3.8 pence per share. Net proceeds will be put towards finalisation of the primary economic assessment of the Amitsoq project, laboratory preparation of different graphite product samples, ongoing field sampling connected to environmental & social impact assessment studies, and test processing of Amitsoq graphite ore.

Read more
27 Jul 2023 21:53

TRADING UPDATES: Ormonde eyes AIM exit; Online Blockchain tests AI app

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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24 Jul 2023 14:26

IN BRIEF: Alba Mineral provides operations update on Welsh assets

Alba Mineral Resources PLC - Northern Europe-focused mineral explorer - Says the dewatering exercise at its primary gold target, the Lower Llechfraith workings at the Clogau-St David's mine system in Wales, is proceeding pumping of the water from the workings is ongoing. Expects to commence safety works this week. Also notes it now expects geophysical survey flights for the Dolgellau gold field to begin in late August or in September, after further delays in the processing of its application by the unnamed regulatory authority. This is following advice from its contractors undertaking the unmanned aerial vehicles flights.

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5 Jul 2023 11:23

IN BRIEF: Alba Mineral raises GBP750,000 through placing

Alba Minerals PLC - Northern Europe-focused mineral explorer - Raises GBP750,000 through the issue of 600 million shares at a price of 0.125 pence per share. The company is putting in place a broker option allowing subscriptions of up to GBP100,000 in total on the same terms and conditions of the placing with priority to existing shareholders. Alba Mineral says this following its announcement on Tuesday that it had0 received an ecological grant allowing it to dewater and explore its primary gold target at Clogau St David's gold mine in Wales.

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4 Jul 2023 12:08

LONDON MARKET MIDDAY: Stocks higher amid US holiday-thinned trade

(Alliance News) - Stock prices in London were higher at midday on Tuesday, with the absence of US markets and any major economic releases keeping trade muted.

Read more
4 Jul 2023 10:32

AIM WINNERS & LOSERS: Alba wins permits; Aptamer cash-strapped

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

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