Member Info for elir71

Support is strong at 0.28, with all mm but one bidding at that level

Only one mm at 0.3, the others lined up at 0.33
It won't take much to push this up

I'd hope Tom would issue an rns to confirm assay then dispatch, especially given the past errors which were not published

Only one mm offering at 0.29, rest at 0.33

@shouldsold
How much., in your opinion do you think Alba needs to raise before self sustainability?
I take your point about starting extraction ASAP as there is nothing stopping us from a rudimentary 'exploratory extraction' in enexploited probable pays hoots such as the John Hughes even before Llechfraith is drained and rehabilitated. I've been vociferous in my criticism of the company delaying the assay of the bulk samples taken 6 months ago.

As you're aware I also gather support for the restoration of shareholders preemption rights, and this is a timely opportunity to bring this to other shareholders' attention. Otherwise I feel as if the baton may be wrested from us just as we are about to cross the finish line by giving discounts to a favoured few by means of discounted private placings. I need the support of other shareholders to restore normal shareholders rights and I shall be unapologetically persistent akin to a guard dog rooting out the marrow from a bone.

I think the areas which we disagree on are covered in my response to you

"came at me like some sort of guard dog", You can expect to be called out when you make unsubstantiated statements backed up neither with reference quantification nor anlaysis.

I'll thank you to disdain from insult.

Calling out the inaccuracies

"Its pretty clear to me that the way Alba becomes cash generative & eventually profitable is with a production licence.",

Alba is not yet in a position to be granted an exploitation licence at Clogau. Environmental Impact studies, Planning studies and a more accurate model of the expected resources at the mine are necessary to make for an efficient extraction strategy. Look what's recently happened at Scotgold where the extraction plan has gone awry.
Another business model is to never go into production, rather prove up resources to a saleable level JORC PEA etc and sell them on for a capital gain to a mining company just prior to production, reinvesting the proceeds into more prospects, exploration and special dividend.

Exploration is the primary way that mining exploration companies add value. Though I would have some sympathy for your sentiment that some production could start sooner rather than later or at least some very extensive "Bulk samping" at the John Hughes location. My main body of contention with the BOD is the witholding of the bulk samples as you are doubtless aware.

"every month like clockwork warrants are exercised" .... no ... here's what I believe is an accurate account of every warrant and placing
https://docs.google.com/spreadsheets/d/1Gw7zD77eS4UhpM2hIMpwJQrBoCgYghx9q1-24FDyLdc/edit#gid=1122024619
I would hope the SP would be higher by the next lot of expiry of options

I am in complete agreement with Yanis' conclusion of the reason of SP disconnect

The consequence of exploration, which requires expenditure on exploration, is to add value to prospective mineral resources by proving them. (Naturally disproving them may happen, in which there's a loss). Effective exploration, properly funded is the primary means by which value is added to this company. As for where has the money gone since November, I think the accounts will at least give us a good starting point to liquid assets available at that time. The company has been very communicative with respect to exploration activities providing some excellent insights and graphics.

I have not made any assertion that sales will cover capex required, on the contrary I believe some finance raising , on probably a couple of occasions will be necessary before self sustainability, however I also believe it will be nowhere near on the same dilutive scale as Bergen and indeed I am actively campaigning for shareholders to be included in discounted offers of placings. I've provided estimates of costings of current works, based on information on general pricing from geotechnical engineers and geologists who are currently working in that field (but not on any project connected with Alba)

I'm very keen for a production licence to be granted too, but based on the full information available. I am fully supportive of the detailed field work being conducted at present and believe it will lead to a more effective mine prod

Calling out the inaccuracies

"Its pretty clear to me that the way Alba becomes cash generative & eventually profitable is with a production licence.",

Alba is not yet in a position to be granted an exploitation licence at Clogau. Environmental Impact studies, Planning studies and a more accurate model of the expected resources at the mine are necessary to make for an efficient extraction strategy. Look what's recently happened at Scotgold where the extraction plan has gone awry.
Another business model is to never go into production, rather prove up resources to a saleable level JORC PEA etc and sell them on for a capital gain to a mining company just prior to production, reinvesting the proceeds into more prospects, exploration and special dividend.

Exploration is the primary way that mining exploration companies add value. Though I would have some sympathy for your sentiment that some production could start sooner rather than later or at least some very extensive "Bulk samping" at the John Hughes location. My main body of contention with the BOD is the witholding of the bulk samples as you are doubtless aware.

"every month like clockwork warrants are exercised" .... no ... here's what I believe is an accurate account of every warrant and placing
https://docs.google.com/spreadsheets/d/1Gw7zD77eS4UhpM2hIMpwJQrBoCgYghx9q1-24FDyLdc/edit#gid=1122024619
I would hope the SP would be higher by the next lot of expiry of options

I am in complete agreement with Yanis' conclusion of the reason of SP disconnect

The consequence of exploration, which requires expenditure on exploration, is to add value to prospective mineral resources by proving them. (Naturally disproving them may happen, in which there's a loss). Effective exploration, properly funded is the primary means by which value is added to this company. As for where has the money gone since November, I think the accounts will at least give us a good starting point to liquid assets available at that time. The company has been very communicative with respect to exploration activities providing some excellent insights and graphics.

I have not made any assertion that sales will cover capex required, on the contrary I believe some finance raising , on probably a couple of occasions will be necessary before self sustainability, however I also believe it will be nowhere near on the same dilutive scale as Bergen and indeed I am actively campaigning for shareholders to be included in discounted offers of placings. I've provided estimates of costings of current works, based on information on general pricing from geotechnical engineers and geologists who are currently working in that field (but not on any project connected with Alba)

I'm very keen for a production licence to be granted too, but based on the full information available. I am fully supportive of the detailed field work being conducted at present and believe it will lead to a more effective mine prod

@Yanis .. I wouldnt pay too much attention to the movements today , the MMs have hardly moved their prices
support 0.28 resistance 0.33 thin volumes awaiting news

@ShouldveSold
"you feel as though I have insulted your stock" <-
no offence taken by me, I'm quite objective and balanced in my approach to stock analysis. Since I've gone the the effort of producing numbers, perhaps you would care to provide your own numbers, as you're portraying yourself rather badly on here at present with your unsubstantiated statements. Anyone would think you've shorted the stock on some spreadbet !

@ShouldveSold
Have you read the 1976 mining memoir ?
https://www.nmrs.org.uk/assets/pdf/BM3/BM3-12-16-synopsis.pdf
You'll see from the account that there were at that time very high grades of visible gold in areas of the mine which are unflooded and well served with new infrastructure installed over the past couple of years. I believe Stellar resources demonstrated some excellent grades more recently. Since no commercial extraction has happened in the meantime, then I'm confident that some reasonably easy to get to reserves exist in Clogau.

You are quite correct in your description of a mineral exploration business model
raise capital -> spend on exploration and potential resource -> proven resource -> either sell on or exploit --> realise profit

@ShouldveSold
You are incorrect in your assertion that the exploration licence at Clogau St Davids disallows the sale of gold found during the exploration phase. Gold extracted under the terms of the exploration lease is saleable with a 4% royalty payable to the mines royal.

As you are aware exploration leases have expiry dates and usually have minimum levels of exploration expenditure as a condition of such leases. You'll doubless be aware of the temporary suspension of that requirement following active lobbying of the Greenlandic government.

I have made an assessment of the capex required in the next 12 months on a project by project basis which I have published.
https://docs.google.com/spreadsheets/d/1BUkYp2OWPTU25YZPe0qSHG7X0x3dBFVsZlW4zlKa1L4/edit?usp=sharing

I'd welcome your comments as long as they are of a quantitive rather the vague qualatative nature, I'd ask you to refrain from subjective statements such as "cash burn quite high", as it is rather meaningless and only serves to evoke sentiment as opposed to reason. I'm rather suspicous of the motives of posters who use emotive terms.

@Icemanzag ... thank you for your input, there is a disconnect between SP and fundamental value, you are quite right. I was wondering if you could add some of your insight into why that may be. I've long thought that with thinnly traded stocks that when spreadbets are availble then a relatively small "investment" can cause a shift in price of the underlying security, where the real harvest is being reaped by the same body spreadbetting. It may be the reason why many platforms have stopped offering spreadbets on smaller companies.

@fyoz and moving forward, no need for further placings until self sustainability. A lot better position than two years ago

3x 2m buys this morn, not much depth in the market, only one sizeable sell, 3 mm changed prices since open, trend is up, assay, dispatch to QRF, feed all triggers to north

Ocelot, if you read my thoughts on the googled rive I'm sure you'd find easy means of reply

Confirmation that tbs and amistoq exploration will occur this season is important otherwise its just pushing the time factor of the net present value of those assets another year down the road.

Ukog accounts show the impairment. I'd be happy for it to be a passive investment as long as the income stream is quantified as well as any further capex. Preferably I'd rather see it sold and any recoupment of capital used on more promising resources over which we have more control. Brockham shares? Big roll.

I really have no idea why the company hold back on news. Ive said many time in the past, if GF is listening to someone with respect to PR, he really needs to stop.

I get the feeling that communications are being left to the latest possible moment, as opposed to the earliest possible opportunity.