Member Info for elir71

so 10 mil is pretty much what the cheapest two MM hold you could infer from that
it wouldnt take a lot to push all this way through resistance.

some substantial investor sells in this mornings trading.

Lets hope that this time next year, we can all have tea and biscuits there !

@SHouldveSold, the Bollinger bands suggest 0.23 being a level at which a strong buy signal would be generated, as things stand then we are not oversold. There's a lot of pent up good nres which has gone, not unnoticed, but unreflected in the SP. I'm convinced that the dewatering permit should propel us to near the previous highs and if a bulk sample from the lower level is taken and processed with alacrity (and there is not reason why that isnt possible) then that momentum should push us through to new highs, more reflective of the fundamental value.

Its only 12 M shares
anyway here's the warrants position updated
https://docs.google.com/spreadsheets/d/1Gw7zD77eS4UhpM2hIMpwJQrBoCgYghx9q1-24FDyLdc/edit?usp=sharing

If our preemption rights are restored on friday, then rather than the company selling shares to us at a discount, why not place them at market price but with a new class of tradeable warrants in lieu of a discount ?

I'm with you with the concept of spoil heap recovery, but I'd add there are some other spoil heaps in the dgb that are worthy of pulverising too.

See, I wouldn't do a deal with a single jeweller, better to control supply of Welsh gold to a select few smaller craftspeople., on the condition that the gold used is 100% welsh gold. Look at how diamond distribution is controlled so well.

There's other stuff to come which should have more sp impact... 1. Restoration of shareholders preemption rights, 2. Dewatering permit, which I think is huge.

What's interesting about the spoil heap is that the grade doesn't need to be fantastic to make money as its a matter of picking it up transporting it, processing it. I'd also point out that there are many spoil heaps in the Dolgellau Gold Belt. I think at Clogau stellar went through the one generated from the 70s workings. There will be others like that in the exploration licence.

utah's product may well find a market in the substantial near coastal and river traffic in the US

no they paid for the last lot of the equipment in ... you guessed it ... UKOG shares

@Jeremiah99
I've no idea how the new vertical wells are progressing at HH, no idea of timescales, no idea of expected production. If you apply the same impairment rate that UKOG did, then its balance sheet value on ALBAs accounts are rather generous to say the least. I'd hope that any disposal of HH also settles the debt owed to ALBA from HH though I am realistic that it will only be a partial settlement. If we recouped £2M for the settlement of debt and for our equity interest then I'd be delighted.

Broke-ham .... good riddance

@Yanis, if the bod had said, "look, we need some time to get the pilot plant well set up to optimise its efficiency at extraction" then most reasonable shareholders would have accepted that. I think some video showing each step on path to production would also be useful, perhaps with a bit of background geology too so it all ties in nicely. What I'd be interested in, is how they plan to identify the super high grade areas which will be of limited extent and unlikely to be intercpeted by surface drilling. Does the planned underground drilling include drilling down the lode so try and sample the orebody along the entire length of the coring ? What methods of extraction do they envisage ?

Working off scotgold's recent experience then the direct costs of extracting a ore is about £218 / T ore so with a "background" gold content of 2g Au / T ore and a x3 premium on spot then the mine would be self sustaining even at that. About £3m was needed in development work (driving new adits etc) to bring Scotgold's mine into commercial production. However there are pockets of ultra high grades which despite their limited extent, historically bump up the average to 17 g Au / T. Naturally, if we're going deeper then we need that dewatering permit. Without it, we still have the main lode extension. I'm hoping that the underground driling will intercept a super rich zone and that the reports of rich zones in level 4 Llechfraith are confirmed once dewatered.

The nearby former Cefn coch mine had a historic ore grade of 14 g Au / T. I believe there's a footpath that leads right up to it. Piles of ore too if you look at the youtube videos. Id be inclined to process some of that.

@Yanis, you make some excellent points and I think part of the problem is trust. It transpires that much of the delays and drops in sentiment comes from suppressing bad news. A realistic investor in a junior miner would expect there to be glitches with plant etc but witholding "bad" news does not support the share price, in fact, over the longer term it suppresses the share price as investors factor in to their own valuations the "bad news we dont know about". Delays should be reported as soon as they become apparent as unavoidable. It would be completely understand

@Noobz does anyone have any information on the spoil heap fines exercise ? when they said mid may, i did take it as read that it would be mid may 2021.

I believe there is an ongoing project to extend a railway line to the area. Initially youd probably road tanker production to a rail head, but eventually you'd probably do a pipeline when the 10k bopd plant is running

Greenland IPO .... yes possibly the right thing to do, but from an ALBA perspective then I would hope that the resources will achieve a fair valuation as JORC resources with respect of the offer. Otherwise its just an asset strip.

that's a huge relief to me

there may be some news on the assay of the tip fines before the AGM results
there also exists the possibility of the dewatering licence application results

I would have thought that Greenland deployment must be imminent by now