Alba disputes loss of Finnsbo earn-in, weighs legal action

(Alliance News) - Alba Mineral Resources PLC on Friday said it is disputing claims that its earn-in rights at the Finnsbo project in Sweden have been terminated, insisting it has met the required conditions under its agreement and will take legal action if necessary to protect its position.

The Alba Mineral Resources PLC - Northern Europe-focused mineral explorer said it had noted "certain public statements" regarding the purported termination of its earn-in rights under an agreement with its partner at the Finnsbo project.

Alba said it "contends that it has fulfilled the terms of the agreement and that the agreement, and Alba's earn-in rights, remain in full force and effect," and refuted any claims to the contrary.

The company said it is satisfied that it has met the expenditure requirement for the first 12-month earn-in period and has therefore earned a 25% interest in the project.

Under the terms of the agreement, Alba said it is entitled to continue earning into the project during a second 12-month period and, subject to meeting further expenditure requirements, to increase its interest to 51%.

Alba added that it intends to take "such legal steps as it considers necessary" to ensure its rights under the agreement are recognised and fully protected. It is also considering appropriate remedies in relation to what it described as "wholly unfounded" public statements linked to the matter.

As part of the agreed work programme, Alba drilled three holes at Finnsbo in late 2025 and said it is arranging for the drill core to be assayed.

Shares in Alba were down 9.2% at 0.018 pence in London at midday on Friday.

By Eva Castanedo, Alliance News reporter

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