Member Info for elir71

Resistance levels are often defined by warrant exercise prices. In any case, the volume of buys will eventually push it through.

@newlunar
Greenland exploration had been planned for 2020, however in light of the covid problems the company decided to postpone until 2021 (when presumably covid will be less of a restriction). I'd point out that the placing and associated warrants (@0.13p exercise price), which was to raise money for Greenland exploration, raised far less revenue per share than the latest placing.

So its entirely sensible for the company to have concentrated on Wales assets under the circumstances and I would hope that Clogau may soon become revenue contributing to the extent that the company's exploration is self funded as opposed to "placement funded". Thus it would replace HH's planned function for the company.

Do you infer from this, that the 2020 exploration season in Greenland will concentrate on Amistoq and Melville Bay ?
(and exclude Thule BS and Inglefield)

answering my own question
https://www.lse.co.uk/rns/UKOG/horse-hill-oil-field-update-4u1r196ubn6i7ue.html
Not looking very promising at all

Would anyone be so kind as to give me a quick run down on Horse Hill. Is there any known production, if so, at what volume ?

Can anyone give me the short run down on Horse Hill, if its in production and if so, how much is being pumped.
I've an idea myself but I would like to check my thinking on it

@Jaguarflush
Its neither necessary, likely nor desirable to opencast the gold bearing veins.
The rocks are relatively stable so it is far safer to mine like this as opposed to longwall mining as used in coal, where the roof is allowed to collapse behind the advancing working face.

It may be worth your while to take a visit to Dolau Cothi gold mine in south west wales, particularly the victorian workings with similar mining methods and geology.

@newlunar
do you have a source for the pricing on graphite please ?

Historic Workings & Data
Graphite production at Amitsoq occurred between 1914 and 1924, with 5,500 tonnes
mined at an average grade of 20% graphite. Before Alba’s arrival no other graphite
development or exploration had occurred since 1924, apart from a government
funded study by Danish company A/S Nielson in 1986.
Bernard and Strache in 1916 estimated a resource of 200,000 to 495,000 tonnes at
an average grade of 20% graphite based upon surface and underground mapping
and trenching work, although this is unlikely to be based upon any drill core results.
A “Review of potential resource critical minerals in Greenland – MiMa report” in 2016
Alba Mineral Resources plc - FEL Broker Note 15 June 2020
6
by Bo M. Stensgaard, Henrik Stendal, Per Kalvig and Karen Hanghøj estimates the
original ore body at Amitsoq is around 250,000 tonnes of graphite.

Msc do operate dry bulk vessels
An example is MSC Anastasia

@Tall_Chap_UK
you had question about cash

From interim accounts then at the end of May ...
31/05/20 Net current assets -£393,167.00

qty p proceeds
05/06/20 81250000 0.04 £32,500.00
19/08/20 139166667 0.06 £83,500.00
08/09/20 192307693 0.13 £250,000.00
10/09/20 38461538 0.13 £50,000.00
21/09/20 472727272 0.275 £1,300,000.00
05/10/20 12500000 0.32 £40,000.00
25/11/20 320000000 0.375 £1,200,000.00
25/11/20 11250000 0.32 £36,000.00
18/12/20 1000000 0.32 £3,200.00

Total capital raised £2,995,200.00

So they'd have £2.5 M available for the exploration at Dolgellau GB since the summer and ready for Greenland next year

Also note that the proceeds gained per share is over 10 fold what it was when Bergen was being used

All very positive

There's been quite a few placings which have raised cash. The relationship with Bergen has however been unilaterally terminated by Alba. Also bear in mind there are warrants out there , which also have the potential to raise more cash when the SP goes high enough for bearers to exercise and sell them. I've compiled a list from trawling through RNSs since last accounts. You'll have to go through my past posts.

Have you read the broker report from a few months ago ?
https://www.albamineralresources.com/ul/Alba%20Mineral%20Resources%20Research%20Note%20-%20First%20Equity%20Limited%20(June%202020).pdf

Since then, there has only been good fundamental news. The Clogau gold resource is valued at 3% of total resource value for the purposes of the report. Since then, new veins have been found, new targets and another developed mine.
Horse Hill's legal challenge has been defeated and the company has successfully raised some cash to move forward.

I've posted my projections of fundamental value of the existing N Wales mines previously according to grades.

Take a look see what you think. Perhaps you'll agree with me that the company is very undervalued

My Christmas wish is that all ALBAs work activities is done safely

I don't see any benefit to the executive nor the shareholders in delaying the results

I'll be "tampin" if there's a cheeky little placing prior to the release of the results

@Chalmdog

No its not "good play" to withold assay results from investors.

https://www.sharesmagazine.co.uk/article/understanding-the-different-types-of-stock-market-announcements
"Information must be released as soon as possible. When news is unexpected, say for example a contract has been lost overnight or a company has been affected by a natural disaster, they can delay for a short time to establish all the facts."

If they witheld that information and the information subsequently leaked then they would be lining up for a spanking fine.

What's my gut feeling ? I think Alba's bod have a draft report which, not being the final report cannot be disclosed. I'd hope the lab would clear their desks before the christmas break and release the final report.

I think we've waited long enough now.

why no RNS ? because the Daily Heil didn't publish anything that isn't already in the public domain.

There is however a difference between "in the public domain" and "foremost in the public's mind" .. hence the shift in sentiment. Taking into account the company's prospects and uncertainties then at 0.5p its still totally undervalued.

The most likely first commercial contract will in my opinion be Asphalt Ridge
The parties have stated that they will facilitate the testing of the output with a view to producing msar
Petroteq have stated that they expect the POSP to be started up on 4th January and some of the first output will be sent as a sample to QFR
I expect the MSAR demonstration at Asphalt RIdge to happen in late February
Early March I expect commercial agreement
By the end of March I expect the plant to be in full production
By the end of March I expect the company to have significantly more credibility.

If they get to this point, then I will no longer oppose the BOD's placing plans

By this time next year I expect the first of the two 5000 bopd POSPS to be operational with MSAR

you can hopefully add to the mix Quadrise Fuels International. Their relationship is that they will licence a process (MSAR) to Greenfield to be used as a final stage bolt on to the POSP. The idea being that it should allow the full recovery of cutting solvent and produce an end user product without the need for refining, by the addition of water some clever chemicals into their wizardly end unit.

Its heartening to hear on recent announcments that all parties involved have focus on providing suitable samples to QFI in England to finalise a formulation prior to tests in Q1 2021.

"developing will cost many more millions"
the adits are open and useable at Clogau St Dai's and Gwynfynydd, which saves millions in development.
development of further mines from as yet undiscovered / unproven lodes is a different matter and will require financing, perhaps being spun off into a JV company

I would imagine, as a junior miner that proven resources (particularly Iron ore) will get sold on to major miners at a profit. That's the name of the game.

With respect to capital raising ... if the capital is put to productive use then it is non dilutive, other than in terms of voting rights. If its used to meet overheads without making progress then it is dilutive aka keeping the lights on. I would concurr that rights issues are preferable to private placings which exclude existing shareholders from the discounted shares