Member Info for elir71

Probably little impact, however Yannis has asked the company on their twitter feed to confirm that

The company needs to confirm this

I would hope that the company would issue a statement immediately after the anticipated announcement by the Government of Wales, setting out the impact on current operations (hopefully confirming no impact)

Let's keep things in perspective
Placings , exercise of warrants etc do not cause dilution if the proceeds contribute true value. It is wholly dilutive if the proceeds are burnt (which is effectivley what keeping the lights on is)
Based on the 2019 accounts If all warrants were exercised and the proceeds converted to cash and burnt then the dilution would be 14.5%

page 35 https://www.albamineralresources.com/ul/2019%20Alba%20accounts%20FINAL%20version%20WEB.pdf
then trawl through the RNSs since the report

I don't want to hear 'jam tomorrow' projects at this time. Utah and Morocco are presenting themselves as barn door type targets the failure of which to hit soon will be a showstopper. The period between now and Christmas is critical.

If MMs get a snif of good news, they'll :-
1. drop the bid price,
2. up the spread to 30 - 40 %
3. get their minions to post on bulletin boards with multiple "fake" accounts slating the stock

why ? to get people unsure of their holding to sell their shares cheap before filling big orders for their favourite buddies

I've no particular local knowledge as I live in South Wales, however I was a consulting geitechnucal engineer as my first job for 4 years, so picked up some general knowledge as much if my work was in former coal mine remediation, which is if course a different geology. I've posted quite a lot. I'm not being negative, I'm only posing critical questions so as future challenges don't cim
E as surprises to anyone. I can assure you I have a vested interest in the success of this priject

taking Wales in isolation (as frankly I believe that the Greenland assets are likely to be worth a multiple of the current mcap in their own right anyway).
On favourable september assay results ... 2 - 4 p depending on grades quantities etc 17 g/t Au being about the middle expectation
New targets proportionally on size and grades less cost of mining infrastructure. So if all four so far identified that come in, then about +8 .... so an SP of 11p .... again being realised as consents etc are obtained.

Greenland assets as they are +3p

By the end of the Greenland exploration next year then I can see it being entirely feasible that the SP of 14p by this time next year (Rodney) One of the questions I've been asking is how much the likes of Rio Tinto would pay for proven reserves at Greenland.

StTropez has put out a nice bit of detail in the steps of development which represent significant news.

My opinion that the main risk is obtaining consent to discharge minewater into the Mawddach. It was a contributory factor (US$300 / oz Au being the main one) for the closure of the previous small scale mining effort. Given that the elevation of the workings at Llechfraith are significantly below the level of Afon Mawddach, then the quantity of minewater discharge is likely to be far greater than the free draining adit that are currently being explored.

The treatment of the minewater may be as simple as stilling lagoons, perhaps reed beds, nevertheless they are real obstacles, more so of a regulatory than a technical nature. When I expressed my concern at this as a potential obstacle a few days ago then it was dismissed out of hand by many on here without any explanation .

https://www.indmin.com/Ilmenite-LatestNews.html

I did my last top up yesterday. I don't think theres much more opportunity to top up before the assay results. Good luck all

1863

William Pritchard Morgan

You should cash in not at certain SP levels , but when expected news is something you no longer wish to be exposed to. Exploration has inherently more uncertainty than a rubber duck factory.

Are the drill crews staying over the weekend locally ? I don't think it would affect the work unless staff can't return to site.

I am unsure whether the assay results that were promised in one go pertain to the september site investigation, or whether it will be an aggregation of the september and october site investigation.

I guess that the company would be keen to release good information at the earliest opportunity.

If they bundle the september and october results up, it may be a sign that the september results were disappointing and that they hoped that the october results may provide more positive news.

On the other hand ... they probably wouldn't have bought a processing plant if there wasn't a good case for having ore to make use of it

I can see the sense in doing it as two 5000 bopd plants as opposed to one 10000 one. The second one should be virtually snag free. To get the max benefit then it needs to be in series with MSAR

Greenland is a very mining friendly environment, so I dont think there will be any issues in obtaining the necessary consents.

There has been no fundamental change
However news is imminent

I can't help but notice that some familiar names pop up on here "deramping" at times of SP drops.

Lockdown in Wales. I live in Wales, in an area under lockdown, however, the restrictions are nothing like the restrictions put in place in March. Obviously there remains a risk of delay if tighter lockdowns were put in place, however the nearest "hotspot" to the mine is Bangor , probably due to the influx of students.

With respect to warrants, their exercise price and quantity is known. So although there may be some dips due to supply to the market and this may be exassepated by MM's doing another tree shake, it will recover quickly as has been the case over the past weeks and months. Of course, some warrant holders may choose not to exercise at this time because they may anticipate a rise on the release of assay results. Some may also want to hold on the next autumn, when there will be more data on Greenland.