Alba Mineral Resources PLC - mineral exploration and development company with assets in Greenland and the UK - Generates no revenue in year ended November 30, unchanged annually. Pretax loss narrows to GBP2.1 million from GBP1.3 million. Posts GBP1.4 million hit from revaluation of investment, against none in financial 2019. Plans spin-out of Greenland projects. Says new firm would float on AIM. "After assessing all the alternatives, the Alba board has determined that the best way to unlock real value in our Greenland assets is to divest the Greenland projects into a separate vehicle," Alba says.
Current stock price: 0.26 pence, down 11%
Year-to-date change: down 54%
By Eric Cunha; ericcunha@alliancenews.com
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Alba Mineral Resources (ALBA)