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Pleased to see Alba target a JORC at Amitsoq this year whilst testing Graphite flake for suitability Spherical graphite. Could be a nice asset.
Progress at Clogau whilst keeping a lid on expenses this year makes sense.
Wait for Bluejay news with Rio shipment and processing (July was given by RM at JAY for this) and then hopefully JV or sell TBS.
At least we all know the plan for this year regards mining side...
HH is proving a tough nut to crack and the decision not to fund further cash calls at this time must put a strain on GF and SS's relationship..I'd love to know what SS's proposal was..
With the greatest respect MrMagoo Bluejay were trading at 26p less than 2 years ago and now sat at around 9p having gone as low as 5.5p !
Doing anything in Greenland is expensive and Alba simply don't have the funds to get anything done there right now. Brockham was hoped to deliver cash but we know how that worked out and HH has at least showed potential but we need it to deliver decent numbers in the coming weeks/months and things could start to look very different here..
At least Clogau is local and should be relatively cheap to progress..
all imo of course
Kenmare RNS today throws up some interesting information regards ilmenite and well worth a read of the whole RNS but for me the stand out point was 'strong demand growth for ilmenite to be upgraded into high grade chloride feedstocks'
From RNS:
Kenmare achieved higher average prices for titanium feedstocks (ilmenite and rutile) during FY 2019 than in FY 2018, but lower average prices for zircon.
After a subdued first quarter, the ilmenite market improved continuously for the rest of the year. Despite lower global pigment production in FY 2019, strong ilmenite market conditions were supported by continuing supply constraints. These include government restrictions in India and Vietnam and reducing production from major producing countries, such as Australia and Kenya, due to declining orebodies. Conversely, domestic Chinese ilmenite production increased by approximately 10% in 2019, partially offsetting decreasing production elsewhere.
Ilmenite imports to China reduced by approximately 24% (550,000 tonnes) for the 12 months to the end of November 2019, compared to the same period in 2018, driven largely by a shortage of available supply. Kenmare experienced strong demand growth for ilmenite to be upgraded into high grade chloride feedstocks, for which Chinese domestic ilmenite is also unsuitable. Kenmare believes the high-grade titanium feedstocks market is likely to continue to grow in coming years, both in China and the rest of the world, and the Company is well-positioned to benefit from this trend.
Kenmare achieved increased ilmenite prices in FY 2019, with H2 received prices up more than 10% on H1 2019, and prices have continued to increase in 2020.
Kenmare RNS today throws up some interesting information regards ilmenite and well worth a read of the whole RNS but for me the stand out point was 'strong demand growth for ilmenite to be upgraded into high grade chloride feedstocks'
From RNS:
Kenmare achieved higher average prices for titanium feedstocks (ilmenite and rutile) during FY 2019 than in FY 2018, but lower average prices for zircon.
After a subdued first quarter, the ilmenite market improved continuously for the rest of the year. Despite lower global pigment production in FY 2019, strong ilmenite market conditions were supported by continuing supply constraints. These include government restrictions in India and Vietnam and reducing production from major producing countries, such as Australia and Kenya, due to declining orebodies. Conversely, domestic Chinese ilmenite production increased by approximately 10% in 2019, partially offsetting decreasing production elsewhere.
Ilmenite imports to China reduced by approximately 24% (550,000 tonnes) for the 12 months to the end of November 2019, compared to the same period in 2018, driven largely by a shortage of available supply. Kenmare experienced strong demand growth for ilmenite to be upgraded into high grade chloride feedstocks, for which Chinese domestic ilmenite is also unsuitable. Kenmare believes the high-grade titanium feedstocks market is likely to continue to grow in coming years, both in China and the rest of the world, and the Company is well-positioned to benefit from this trend.
Kenmare achieved increased ilmenite prices in FY 2019, with H2 received prices up more than 10% on H1 2019, and prices have continued to increase in 2020.
As I see it the Alba 'gamble' or punters bet is a bit like a Q1 Round Robin;
1: Horse Hill (remedial works go to plan and into production)
2: Clogau (progresses on good assay results)
3: Thule Black Sands (sold or JV on JAY/Rio imminent test shipment results)
I'm looking forward to an Alba change of fortune in Q1 but as with any gamble anything can happen and usually does :-)
With HH2z throwing up more questions than answers on the UKOG board perhaps whilst we await further news of EWT we should focus some attention back onto Clogau..I found this article on Bullion By Post of interest and although it was published some time ago good assay results could get things moving along quite quickly..
https://www.bullionbypost.co.uk/gold-news/2019/may/01/very-significant-samples-found-welsh-gold-mine-site/
Thank you B (25wbh) much better thank you. Cardio rehab is like a scene from the film one flew over the cuckoo's nest :-)
I just sent a Christmas email to Alba ( I don't suppose they get many this time of year when the share price is below expectations) they obviously decided investor Christmas Party wasn't appropriate this year but perhaps next year will be our year and the Christmas Party will be back on :-)
Happy Xmas B and Alba enthusiasts
It looks like GF made the correct decision back in June:
From Half Year Update RNS:
'In June 2019, we announced our decision not to fund the latest cash call received from HHDL. While we have not decided whether we will fund future cash requirements at Horse Hill, it is entirely possible that we will decide not to fund, for a number of reasons including our desire to focus our efforts and expenditure on the mining projects which are under Alba's sole control; also the fact that any dilution of Alba's interest in Horse Hill arising from a decision not to fund will be minimal.
Regardless of whether Alba continues to decline to fund future cash calls, its investment in Horse Hill remains a near-term cash-generative opportunity for the Company. As such, Alba is open to either retaining its stake in the project through to production, when material oil sales revenues should be generated, or to giving serious consideration to any third-party offer received prior to production which properly reflects the inherent value of Alba's stake.'
Virtually a free ride on HH sounds like good news right now for Alba and it's investors..
Gold assay results early in 2020 and maybe something on Greenland assets..
Enjoy Christmas and lets see what the New Year brings
With the greatest respect MrMagoo31 the BOD have decided not to raise funds via placings to fund HH (which no investor particularly likes)
Would you rather they had diluted further or take the decision to lose a small percentage of HHDL as they have done ?
Seems harsh to blame BOD..Sure we'd all like at least a £10M MCAP based on our assets but we are were we are.
All imo of course and not looking for an argument
down a bit then back up is my guess..
RNS doesn't read that well at first but it could have been a lot worse and assuming they can fix the water issue it could be viewed as a good result...
SS
"Although it's still early days in the EWT campaign, we are very encouraged by the magnitude of the initial flow rates. These confirm that HH-2z's horizontal trajectory can deliver flow rates from the Portland sweet-spot that significantly exceed those delivered by the HH-1 vertical discovery well.
Our team's efforts are now firmly focused upon the routine elimination of water ingress and the continued optimisation of HH-2z's near-wellbore, both of which are designed to ensure HH-2z can deliver the best possible stable oil production rates over the coming year.
Whilst there is still much to be done, these early results, together with the timely submission of the FDP to the OGA, mean we are well on the way to delivering significant production at Horse Hill."
Krull if I took a pic of three tankers on site i'd park outside the gate and wait for the magnificent convoy exit..Who wouldn't ?
I'm not invested in UKOG but today I have called The fool on th hill out for posting 'fake news' on twitter and he blocked me..
Being blocked doesn't bother me in the slightest but HH/ UKOG/ Alba investors being duped bothers me a lot..a lot !
If there were 3 tankers in today then I apologise unreservedly to anyone whom I may have offended or unpersuaded.
But as a sceptic of many things I cannot simply let fake news go unopposed..
Happy to be proved wrong as always
I enjoyed watching DL interviews pumping HH, DOR and Angus but I didn't enjoy losing my investments in them..
I just hope HH delivers for UKOG and Alba holders and that the 'Bonanza' grade Gold at Clogau is actually there..No reason to think it's not there and can be found and extracted using modern mining tech..
Shouldn't have to long to wait to find out what HH can do and what Clogau has.
With a bit of luck they will both come in and GF will find JV's or buyers for some of Greenland projects
'Greenland ice melt 'is accelerating'
https://www.bbc.co.uk/news/science-environment-48387030
So not the news most people want to hear but major mining companies will undoubtedly be watching Greenland evolve. Rio Tinto is the obvious Major recently taking Bluejay test shipment whilst having trouble operating it's Richards Bay Project (ilmenite)
https://www.bloomberg.com/news/articles/2019-12-03/rio-tinto-halts-mine-pauses-expansion-on-south-africa-violence
Will we see the Clogau assay results come out before HH2Z results ?
Just thought i'd post something whilst we wait on both..I think we will see assay results first if they are really good and no if they are less so
SS says he's hoping for 2 - 3 times the existing 220 per day and given the horizontal drill was cut short after the rig engine failure the lower end of that hoped for figure would seem prudent...
As an Alba holder i'd like more but 400 would at least allow HHDL to progress into production early next year. If this makes me a non believer so be it
https://www.youtube.com/watch?v=e59gHeiAHec&feature=youtu.be
Good presentation by GF
https://twitter.com/AlbaMinerals?s=20