Member Info for degsie

Steve. Where did you hear Kirk Adams?

and one week fom tomorrow the Green Roc IPO will be completed.

Extract from interim report issued on August 26. I have emailed KM asking who is responsible for management of Amapa at the moment.
We understand that this process has been frustrating, given that we agreed on the principal terms of the settlement in September 2020, but this matter has been outside of our control. The alternative to the current agreed (in principle) settlement would be hugely detrimental to the secured bank creditors, nonetheless. We have a high degree of confidence that we will execute a settlement agreement and will be announced as soon as it is completed.
HUGELY DETRIMENTAL.

Ihttps://www.youtube.com/watch?v=z4IUTzJ4J18
In the link above GF refers to Bluejay and its market cap -today £118m. He suggests that Alba's Greenland assets -now in Greenland Roc-could be worth 10s of millions. I have tried to do a comparison with Bluejay's but find it difficult. Anybody else have any ideas??

Shares in Alba Mineral Resources (
ALBA
) jumped on Friday after details were published of the floatation of GreenRoc Mining, a spin-off vehicle based on its Greenland mining assets.

The London-listed firm announced in its final results for the year ended 30 November 2020 published back in May 2021 its intention to form a new AIM-quoted, Greenland-focused, spin-out company that would unlock ‘real and sustained value’ across its asset portfolio.

The plan formed after the pandemic had placed some doubt upon Alba’s ability to execute its field programmes, particularly at the Amitsoq Graphite Project where it had plans to drill.

At the time, it said it believed that moving the Greenland Projects into a new listed vehicle would allow the market to set ‘a clear value for those assets in isolation’ rather than as part of a larger pool of diverse mining, oil and gas and exploration assets, as is currently the case.?

The newly formed vehicle, which was spun out as GreenRoc earlier this year, expects to raise £5m in its IPO upon its admission in mid-September for a market capitalisation of £11 million.

GreenRoc Mining’s assets include the Thule Black Sands Ilmenite Project, the Amitsoq Graphite Project, the Melville Bay Iron Project and the Inglefield Multi-Element Project.

The Company said it plans to progress exploration and development activities in respect of the Greenland Projects ‘with the aim of securing a mining licence and commencing commercial production at one or more of the projects within the earliest practicable timescale.’

Following the recently completed drilling programme at the Amitsoq Project, the objective will be to define a maiden JORC-compliant Mineral Resource Estimate for Amitsoq, allowing the Company to move to commissioning a detailed economic assessment of the Project.

Meanwhile, following the recently completed extension drilling programme at TBS, the objective will be to define a substantial increase to the Mineral Resource Estimate.

In consideration of the divestment of its Greenlandic assets to GreenRoc, Alba Mineral Resources is to receive GreenRoc shares valued at £6m on Admission, which shareholding is expected to represent 54.0% of the enlarged share capital of GreenRoc on Admission.

Last week, Alba Mineral Resources announced that it had successfully completed Phase 2 drilling operations at the Company’s Thule Black Sands Project in northern Greenland.

Alba said 249 holes were completed for 550 metres, nearly double the planned 125 holes. Depths of mineralised sand reached up to 6m in some places, with average depths of 2.2m.?

The Group said a significant upgrade in the defined resources at TBS will enable Alba to move forward with scoping level studies to assess the economic exploitation of the project.

He also noted that a significant upgrade would allow Alba to plan for the EIA/SIA work which will need to be completed in 2022 as a precursor to an application for a mining licence.

In this Q&A from May 2021, Alba Minerals’s Chairman, George Frangeskides elaborates on the rationale behind spinning out their Greenland assets into a new listed entity. He discusses the benefits to both Alba and its shareholders, funding and the advantages of Greenland.

https://www.branduk.net/wp-content/uploads/2021/07/KDNC_AmapaJuly21.png

JCot try again . v o x m a r k e t s.
A good site; worth registering -no charge.

JCot. The link below explains. GF suggests towards end other Greenland companies have values of £50m-£90M. The missing letters are v o x m m a r k e t s.
https://www.**********.co.uk/media/60a63f192505ce001728ab75/?context=/listings/LON/ALBA

Worth listening to link below- from 3 mimutes on
V O X M A R K E T S

https://www.**********.co.uk/media/60a63f192505ce001728ab75/?context=/listings/LON/ALBA

The tone was very positive and it must have been approved by BOD including non-exec directors.
I re-listened to GF discussing Greenland and he is confident about value.

Must include update on Green Roc.

issued on August 28th last year. I have spoken to broker and will be issued today.

Info about Green Roc

https://lounge.nrprivatemarket.com/greenroc/

View from Vox
In recent weeks, Alba told investors that it had identified a new high-grade regional gold target within the group’s exploration licence area close to the Gwynfynydd Gold Mine in Wales.???

The discovery was made during a recent field exploration made by Alba over a gold target in the extensive exploration licence area which lies close to the Gwynfynydd Gold Mine.??

Alba is planning to undertake a follow-up field campaign of mapping and bedrock sampling in August 2021, which will aim to identify further examples of mineralisation and to better constrain the structures that are potentially critical for both styles of mineralisation.?

Meanwhile, Alba also gave investors an update on its plan to divest its Greenland assets, namely the Amitsoq, TBS, Melville Bay and Inglefield Projects, into a separate vehicle.???

As outlined in May 2021, subject to regulatory approval, the Company’s separate vehicle, which is also referred to as “New Listco”, will seek to be admitted to trading on AIM.????

New Listco will acquire the Greenland Projects from Alba for shares, and simultaneously with the listing New Listco will undertake an Initial Public Offering fundraising to secure the necessary working capital to fast-track the development of the Greenland Projects, it noted.???

In addition, Alba's recently proposed Greenland-focused, spin-out company will enable it to form a new vehicle that could unlock ‘real and sustained value’ across its Greenland projects which the company views as being ‘materially undervalued’ within its current asset portfolio.????

As part of the Spin-Out Transaction, Alba will receive New Listco shares valued on IPO at around £6 million, resulting in Alba becoming the majority shareholder of New Listco.???

V O X M A R K E T S

https://www.**********.co.uk/articles/alba-mineral-resources-completes-phase-2-drilling-at-thule-black-sands--f74b077/?utm_source=Vox+Markets+Newsletter&utm_campaign=d22dbf2f19-EMAIL_CAMPAIGN_2021_08_24_11_51&utm_medium=email&utm_term=0_9a70c2b674-d22dbf2f19-108944223

I find the appointment of two well qualified non-exec directors last December very reassuring

PS. Alba are retaining 50% of Green Roc so Green Roc should have about £6m in cash to develop mines.

Yanis. Green Roc will have a market value and that will be reflected in value of Alba. GF has suggested that the shares retained by Alba will have a value of £6m. The current market cap of Alba is £15m.

Yanis. Theee was a positive RNS yesterday and the IPO is due before end of month.