Member Info for elir71

Well advanced mine, yes, I stand by that. Everything required for extraction on the anticipated future scale is in place. When the adit at level 5 is completed then the ore body above it is accessible for extraction.

From the last update, 30m of adit driving was required to access the location for two rises. GF told the agm that a 1.75m advance per blast muck out cycle was anticipated and that a rough cost estimate if £2k per metre advance was reasonable. So £60k of mining assuming a 3 day cycle then roughly 2 months from start if blasting programme. All mining equipment is in place, hoists for shaft, pumping, hydraulics, ventilation, so yes a well advanced mine.

Since you seem to pour scorn on my view, tell me what more development you think is necessary for the mine to extract ore ? Have you been to the mine ?

@ocelot ... if no tr1 then it means they sold the placing shares. Looking at the couple of days immediately after placing it looks that they did.

@mr jones and ocelot

The placing shares are long ago sold.

There are two main aspects with respect to mining permit

1. Exploitation licence, a purely legal matter. The public consultation ends 27th June 25. It is anticipated to be approved end of 2025 or early 2026

2 Mining permit, which looks at the more technical aspects. This, from memory can be expected q4 2027 and is the precursor to mine construction

Correction

If you want exposure to welsh gold and other early stage projects as well as the graphite project then ALBA would be more suitable.

Not a matter of "better"

If you want pure exposure to (largely) the graphite project, then GROC would be more suitable than ALBA

If you want exposure to welsh gold and other early stage projects as well as the graphite project then GROC would be more suitable.

All projects are pre revenue (except for the relatively small number of coins produced). The welsh gold projects have one well advanced mine, Clogau St David's. Given likely future planning constraints and the regulatory significance of having a mine with 12 or less people working at it then, as ALBA have long maintained, it would be a small scale "boutique" operation. With the exception of a full scale processing plant, then most of the capex necessary to bring it to production has been made and significant regulatory hurdles have been overcome. Planning permission for a full working mine is not in place or has been applied for as yet and due to the nature of the deposit a high variation in grades is expected. The current underground exploratory phase should by the autumn quantify the grades which we can expect and an internal economic review will then be conducted to determine whether the mine will be commercially reopened. As important as grades is the premium welsh gold can achieve. An upper boundary of x8 spot has been demonstrated, however there has been no information on the development of a marketing strategy for offtake to Jewellers. Many elements of the workflow do not of dependency on other tasks as prerequisites, however these elements are not being run in parallel so progress is slower than it could be if there were boundless resources. With sentiment currently low, the bod have difficult choices to make with respect to making capital raises to fund accelerated progress . A perception of slow progress in itself does not help sentiment as the company overhead is significant in comparison to operational exploratory costs. It should be recognised that the company has approached the regulatory compliance with dilligence. In my opinion, a significant shareprice rise is most likely going to occur in the near future from pmappreciation of market valuation at GROC, which will make capital raises more palletable to shareholders and result in proportionately less dilution. Some shareholders expressed concern thar the bods strategy of acquiring, at this time, other early stage projects may divert focus from the welsh gold operation, and this was discussed at the annual general meeting. However over 80% of shareholders agreed with the board of directors strategy and voted for authority to the bod to issue non preemptively an unlimited number of shares for an indeterminate period. I also asked at the agm for some information on the progress the development of offtake and product marketing, which, commercially, is as important as grades.

I think that one, 12 Jun25 16:05:06 was a limit order to buy

@predator7 ... well we have a pretty good idea what they will do with the shares resulting from the exercised warrants when is happens then dont we

All that said, I think ALBA will hold on until the investment reaches a far higher level

GROC's mcap, is £ 7.7M

ALBA owns roughly 25%

so the book value of ALBA's interests is almost £ 2M

ALBA's current mcap is £ 3M

So 66% of ALBA's market perceived value is in GROC investment

ALBA hold some warrants as far as I know ... approx 1923000 with an exercise price of 2p, so they are in the money with the warrants as they have a current intrinsic value of £17 k ish

On strategic projects list

Alba doesn't directly employ mine staff so there would not be a redundancy liability

I expect the sp to rise today

.... no more raises you say Robbie

Over 80% of shareholders voted for limitless placings

From today's AGM

1. A non EU country which a project on the list needs to pass a parliamentary resolution to allow the project to proceed.

2. Sufficient exploratory funds have been spent on TBS to keep the exploration option .

Proposed amendments to resolutions and additional shareholders resolution

Alba Mineral Resources plc AGM 27 May 2025

Dear fellow shareholders

As a long term holder I have felt unable this year to support all of the resolutions proposed by the board for ratification at the 2025 Annual General Meeting.

I acknowledge the necessity for capital raising in the coming year. My estimate is that we would need about £1.3 million to satisfactorily proceed with the programme outlined in the chairman's statement in the latest annual report. However, I cannot ignore the fact that the share price is approximately 10% of what it was at the time of the GROC spin off. I acknowledge that the market's judgement of the company's achievements is rather stern, albeit taking into account the impairment of Horse Hill project. Nevertheless considerable progress has been made at the mine, although the break in blasting is disappointing, I fully expect that over the coming months sufficient exploration can be made at Llechfraith to form the basis of an internal economic assessment. I would not wish to starve that process of resources. Indeed , I would prefer it to be the main focus of the business. I objected to the acquisition of the new Sweden projects, however, that is not on the basis of their prospective quality, simply the right prospects at the wrong time. Nevertheless, we are where we are and the earn in costs are not overly onerous, however I am concerned at the cash position and the recent placings conducted at a very low share price. I am confident that the anticipated imminent positive news flow from GROC may appreciate the ALBA shareprice, where upon the cost of placings to existing shareholders will be easier to bear.

Past resolutions granting the board of directors the authority to allot shares and to do to pre-emptively have had limits of time (1 year) and limits on quantity. I understand that with the likely reorganisation of the share capital that stipulating the number of shares authorised would be unhelpful at this stage, so I propose a limit based on the percentage of market capitalisation. So that if the share price rises, then a greater amount of shares can be raised. I believe that this brings a balance and aligns the interests of long term shareholders interests with the need for sufficient financial resources to unlock and bring closer to realisation the value of our current investments.

I wish to propose a resolution 9, which seeks to restrict the purchase of new projects, other than those we already have (including the Swedish projects). This is not an indefinite moratorium, it's for a maximum of a year, however, if ALBA's market capitalisation appreciates to a steady £5m, then the restriction would be lifted. It is my belief that this brings balance between immediate focus on Clogau St Davids and the longer term need for a pipeline of projects with various maturity timescales.

I thank you all for taking the

I have just emailed the company secretary

Proposed amendment to resolution 6

TO EMPOWER THE DIRECTORS TO ALLOT EQUITY SECURITIES PURSUANT TO SECTION 551 OF THE COMPANIES ACT subject to a maximum non-preemptive capital raise by issue of ordinary shares to the value of 60% of the preceding 10 trading days' average market capitalisation. The powers granted to the board of directors under this resolution expire at the start of the next annual general meeting (anticipated 2026)

Section 551 deals with the authority of directors to allot shares

Proposed amendment to resolution 7

TO EMPOWER THE DIRECTORS TO ALLOT EQUITY SECURITIES PURSUANT TO SECTION 570 OF THE COMPANIES ACT subject to a maximum non-preemptive capital raise by issue of ordinary shares to the value of 60% of the preceding 10 trading days' average market capitalisation. The powers granted to the board of directors under this resolution expire at the start of the next annual general meeting (anticipated 2026)

Proposed resolution 9

TO INSTRUCT THE BOARD OF DIRECTORS TO DESIST FROM AQUIRING NEW PROJECTS OR OPTIONS ON THEM UNTIL EITHER

I) THE MARKET CAPITALISATION OF THE COMPANY EXCEEDS £5,000,000 FOR A CONTINUOUS PERIOD OF NOT LESS THAN 10 TRADING DAYS

OR

II) THE START OF THE NEXT ANNUAL GENERAL MEETING (ANTICIPATED 2026)

NEW PROJECTS ARE ANY PROJECT OTHER THAN THOSE MENTIONED IN THE "Alba Mineral Resources plc REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024"

There'll be some profit taking for sure, however beyond strategic project status is an anticipated newsflow of private funding

@djm. Finance was quickly forthcoming from eu to other projects

Zak leans heavily on technical analysis , which is the study of patterns of stock price movements in relation to market behaviours. In many ways, it is self fulfilling.

Nevertheless, in situations of very substantial changes, in my opinion, fundamental analysis is more useful to a long term investor

@insertwittyname

The bulk sample program we are looking fir, so that the company can do an internal economic assessment is the driving if the adit at level 5, completing two rises, that samples the ore body. Originally the drive was going to be 25m, that has now been reduced to 5m. However we have not had an operational update since the one that disclosed very little progress into the prospective payshoot. Very little progress since the minevisit and that update (6 weeks ago ish ?).

Kobus, mine manager departure unexplained. However new mine manager appointed.

These events have been unsettling, together with a placing at new depths.