Member Info for elir71

Brisk trading this morning in the sub £5 sector

however a chunky 25,000,000 buy

My guesstimate is a fund raise of £600k at a 25% discount to the recent market price and possibly a share restructure bundled in the same action.

I'd further point out that those shareholders who attended the AGM were all opposed to unbridled placings, though acknowledging the need for capital raises. Given that my proposed amendments to the proposed resolutions were deemed as inadmissible, I can only presume that less than 5% of us supported my amendments. So it is all well and good bemoaning dilution on anonymous chat boards but your effective voice is at shareholders meetings.

They already did agree overwhelmingly by votes cast at the agm to authorise the bod to issue as many shares as they see fit , non preemptively by a margin of over 80%. However there is the issue of not being able to issue new shares at under the par value, so perhaps there will be the restructuring of the shares (effectively one new one for every ten old ones, though technically the issue of 9 deferred shares and one share for every 10 shares held).

The blasting needs to be paid for and hopefully will start in the next few weeks. My guess is that the bod is holding on for anticipated GROC news on the nature of the financing of the active anode material pilot plant, in the hope that anything other than a straight placing will result in an appreciation of GROC and thus an appreciation of ALBA. If the placing is done ahead of that news then its a bit of a big middle finger to long term holders, as is paves the way for easy money for the placing institution to the detriment of existing shareholders.

All this said , annoyed as I am at the delay in this blasting programme, the results of the bulk samples retrieved from it should be pivotal as it forms the basis of the internal economic assessment, which will determine whether or not the reopening of the Clogau St David's mine will be pursued. If CStD is not pursued then, I see little point in furthering the wider Dolgellau Gold Belt.

@stringer and @Ezhik .... patience .... I dont think the next RNS will be about the exploitation licence as the white book needs to be compiled and submitted with the revised project description. If all goes well, and so far, the RNS shows everything going to plan then the exploitation licence should be granted late this year.

I believe the next RNS will be about ordering the machinery that comprises the active anode material pilot plant. Significantly, I speculate that the finance of that will comprise elements of finance that would only have been available to us as a strategic project and as such be a practical demonstration of the true value of having that status. If the AAMPP is paid for by significant amounts other than funds raised by equity issue, then it bodes very well for the future as it is an indication that the future investment required to bring the mine into production (mine construction planned to commence 2027 and the investment required to build the commercial scale Active Anode Material Plant (AAMP) will require a lesser proportion of equity raised finance. I would hope that, that would drive a significant rerate.

It must be a busy time at GROC and I would imagine that Stefan is engaged in negotiations with potential financiers for the above. Sources of finance may well influence the siting of the AAMP, particularly if the Danish pension funds are receptive to providing funding.

The news of the procurement of the active anode material PILOT plant, I would expect before the end of August

@Michty

Re "Why’s it taking so long to collect 15 to 20 tons of ore are they using a tea spoon

Also the processing is taking to long, it’s like Alba being run at snail pace"

The samples are from the lowest levels of the mine. I dont believe there is a permanent winching system as yet,

August , which is when the samples are being delivered for testing is next month.

Stefan's clear timelines, parallel activities, clear end goal are quite different from ALBA.

Is there an estimate to commencement of commercial mining operations ?

@Reserved Stefan presented a planned workflow at the Q and A session a few weeks ago

The environmental and social impact baseline studies (already well underway) feed into the Preliminary Feasibility Study, which he hopes to have concluded by the end of the year. The Definitive Feasibility Study has some prerequisites :

Environmental Impact Assessment

Social Impact Assessment

Navigational Safety Investigation

Formerly the Social Impact Assessment and Environmental Impact Assessments had to be complete prior to the applying of an Exploitation Licence, however the law was changed in ?Jan 2024? which allows it to be appiled for prior to the conclusion of the SIA and EIA. Id point out that the exploitation licence is the "legal" part of the permissions required. The technical regulatory approval comes from the mining permit. The granting of that, opens the way to the start of mine construction which is pencilled in for 2027. Naturally, the finance package would be in place as a prerequisite to the start of mine construcion.

The UK domestic analogy would be "exploitation licence planning permission!", "mining permit building control approval"

Remember we have two projects, linked, but not completely intertwined

The active anode material processing plant (AAMPP) will need to go through an almost parallel process which includes its own DFS

@Tonto-ai is this for the drilling that Stefan mentioned in his webinar ?

25% spread on opening. handbrake is on

Friday's SP drop was on negligible volume. Although ti will be some time until results from the bulk sampling of the rises will be available (possibly as late as next year) there is anticipated news on GROC, which tends to materialise with more reliability. Most of ALBA's market value at present comprises their investment in GROC. Naturally I would anticipate placings in both ALBA and GROC, ALBA need to be able to pay for the blasting , processing etc and GROC will probably put in an order for the active anode material pilot processing plant. However some element of GROC's costs may be financed through some alternative means than a straight private placing, which has implications for ALBA , in that their shareholding in GROC as a percentage may not be eroded as much as a pure placing. Nevertheless, reading between the line, I speculate that ALBA's bod is anticipating a positive upward price movement in GROC (and this anticipated in ALBA) which would make the ALBA anticipated placing better value for shareholders.

No sign of the seller today, dried up perhaps ? If he's not there on monday then I can see thisr eturning to 2.6-2.8 even on thin volumes

@@Robbie no delay... are you for real ?

Blasting iron the critical path, so you never stop blasting. It should have been a continuous process from January. You never ever leave your critical path vulnerable to third parties. Just use another blasting contractor, better still learn to do it yourself

My guess is they haven't the money

Putting forth perspectives to the BOD is the prerogative of any shareholder in any company, hence the right of shareholders to speak at AGMs. It is also the reason for voting on resolutions. It is a trait of good leadership to listen to , but not necessarily act upon the constructive perspectives of others if the situation demands and allows it.

In any case, the bulk of the current market valuation of ALBA comprises the investment in GROC, which is out of their day to day control.

"Either we dont have any gold worth mining "

... this is why the bulk sampling of the rises is being done. At present, I would imagine that they are in the process of driving the level (extending level 5) to the bases of the proposed rises. The results of which will form the basis of the internal economic assessment to determine if there is gold worth mining.

"or there is gold but they are not capable of finding it."

Llechfraith has been subject of a drilling campaign which has enabled a modelling of the structure of a potentially gold bearing vein. The vein above level 5 is largely unworked. The vein has been proven to extend well below level 5. Other potential structures have also been found from a well planned drilling campaign which takes into account the controls on gold deposition (Simon Dominy published a paper on it).

Naturally the extended period to obtain the dewatering / abstraction / discharge permits was frustrating particularly as I felt that more could have been done in terms of the waste tip during this period, so the bottleneck of the pilot processing plant would have had less impact on the programme and some positive sentiment generated from earlier gold sales may have abated the erosion of sentiment over time. The suspension of blasting (reason not really explained, but probably due to the exploration option having run out is frustrating in another way ... because it was entirely foreseeable and much of it was within ALBA's hands, so at least partially within ALBA's control.

Nevertheless a great deal of work has been put in place in terms of operational preparatory work underground

My main concern being the timescale of the regulatory process that would need to take place to get the full exploitation licence in place , including the dual planning permission process and no doubt another encounter with the laconic NRW. Its easy for me to call NRW that from my chair in my home, however George has to maintain a functional relationship with them on our behalf. I would like the company to undertake parallel processes, so that the physical reality lays on the critical path as opposed to regulatory delay. I've put this to the management , George and Mark, but I do appreciate that they are doing all of this on a shoestring, though, I suppose to say so publicly may not help matters of confidence and sentiment.

It's easy to point fingers at the person in the hot seat, so I ask, what would you have done differently ?

I can think of many things and Ive expressed these to the management which was received graciously despite us not being in agreement.

I can assure you I am not being paid to promote this share. I make no attempt to hide my identity (unlike many very negative posters on here and elsewhere). My last two posts are my opinion about an anticipated placing. The only "positive spin" included is that as the SP is currently higher than that on the 4th of March, then the fundraise represents better value than that of the 4th March, provided the SP holds up during that time.

Given that I put forward motions to limit the scope of fundraises at the AGM, hardly consistent with the actions of a "paid ramper"

I'd add it is likely to be the last sizeable placing before the completion of the current exploratory phase at Clogau, enough, I would hope to have sufficient data to conduct an internal economic assessment. In the meantime, I would expect that GROC will have appreciated significantly.

Figures are my guestimates for a 3 month period

Funds are needed for

1. Overheads 50k a month ... £150k

2. Clogau exploratory phase blasting at 2k per metre, assume 40m needed £80k

3. Clogau processing £20k

4. Finnsboro £25 k

£ 275 k

Add another 100k if they're upgrading the processing plant

£ 375k

So I am expecting a placing of roughly 1,600,000,000 shares (assuming that the 1 for every 100 shares) hasnt happened before

with a placing price of 0.023 p

Last placing was 4 March, so unless George is holding off for GROC news on finance then I would expect it soon ... and its good news, because the funds are necessary to progress projects and represents a far lower cost in shares given the significantly higher SP than at 4 March.

I'm the last rumper ? I doubt George would share that opinion after the recent AGM.

Significant £10k sale yesterday , limit order to sell . Price held up well.