Member Info for Jeremiah99

Not to blow my own trumpet but I posted this on 31/10/2023 -

"Current Mcap of only £6.2m. All being well it should be 10-20x that when we get into production. IMO"

We're at about the right Mcap level commensurate with our 28% stake in Groc, meaning the market values our N. Wales gold at a big fat zero. Probably about right until we see some gold coming from the mine.

Divesting so much of Alba's stake in Groc, with little to show for it, may turn out to be one of George's biggest mistakes. One day a 50% share of Groc could be worth £100m, maybe more.

Amongst all the busy trading I noticed two delayed sales at 2.50p of, I think it was 12m shares and 4m shares respectively. It looked like chunks of the recent cash raise (18m shares) but those shares are not being admitted for trading until 16th June, so why the two chunky offloads?

Just to point out that the 9m 1 for 2 warrants issued the other day vesting at 3.75p are nearly in the money already. Nice timing, that US investor ;-) It won't amount to a huge sum, around £337.5k but every little helps...

Woo Hoo! We're on our way! :-)

Yes but by then the s/p will be several times higher. Those getting in now have weighed up the risk/reward opportunity and have decided that being at this early stage of exploration it's worth the extra risk for the cheaper buy in. There surely must be some commercial copper to be found among all those targets, and if so a deep pocketed company like AA, hell bent on increasing their copper portfolio prior to attracting another TO bid, are just the guys to hone in on it.

Raised £450k at a reasonable price of 2.5p, just 7% below prevailing s/p resulting in a minimal dilution of c. 7.2%. Nothing concerning IMO...

£450k raised at 2.5p (7% below prevailing s/p) by issuance of 18m new shares (about a 7.2% dilution) plus warrants at 3.75p. Nothing too troubling IMO...

Greenland seem to be getting impatient and are saying China are waiting to swoop if the EU and the US don't move a bit quicker.

"26th March 2024 Alba Mineral Resources Plc ("Alba" or the "Company") Clogau Gold Mine Update Exceptionally High Gold Grades Confirmed of up to 4.30 oz/t Alba Mineral Resources Plc (AIM: ALBA) is delighted to report on exceptionally high-grade sampling results returned from No.4 Level at the Lower Llechfraith workings (the "Llechfraith Target"), Alba's principal gold target at the Company's 100% owned Clogau-St David's Gold Mine in north Wales ("Clogau" or the "Mine"). Key Points ·     ·     ·     ·     ·     Alba has taken more than 40 samples from No.4 Level at the Llechfraith Target, and all have been put through the Company's Gravity Processing Plant to produce heavy mineral concentrates.  Composites of the concentrates were then sent to a third-party refining facility. These composites have now returned exceptional gold grades: o  From Composite 1: 3.1 grams of gold were recovered from 49.2 kg of sample (dry weight), equating to a back-calculated head grade of 89.15 g/t or 2.87 troy ounces per tonne (oz/t).  o  From Composite sample 2: 3.2 grams of gold were recovered from 34.4 kg of sample (dry weight), equating to a back-calculated head grade of 111.63 g/t or 3.59 oz/t.     o  From Composite sample 3: 4.0 grams of gold were recovered from 36.9 kg of sample (dry weight), equating to a back-calculated head grade of 133.73 g/t or 4.30 oz/t. The Company is greatly encouraged by the fact that these high grades are from ore that did not contain visible gold and is interpreted as being part of the background gold population. Further, the fact that these grades were obtained from shallow chip sampling on a level that has previously been mined suggests that further and more extensive sampling on No.4 Level is merited. As No.4 Level is immediately accessible, this sampling can proceed without delay."

Alba have clearly been waiting for the Groc get-out-of-jail card to boost the s/p and raise at a higher price, but it's taking much longer than expected. Meanwhile we try to keep the plates spinning, with everything else but the BoD salary surviving on fumes.

You're a little ray of sunshine stringer01

Sounds reasonable elir71 and well composed, but isn't it a case of yelling shut the barn door after the horse has already bolted?

The Groc s/p would obviously crash if Alba sold their share but that's not my point. I'm saying that apart from the value of our Groc shares there is only £200k attributed to the value of (actually all, including Finnsbro) Alba's other assets. It therefore looks like we're near bottom, assuming Groc gets Strategic status and that George doesn't surprise us with another giveaway share placing at mate's rates.

Well going off my own numbers, if Groc get the Strategic minerals status and doubles or trebles, the Alba's s/p should certainly do the same. It's all hanging on that EU decision. Making us squirm with the wait tho, aren't they? :-)

Groc is currently valued at £7.2m. Alba's 28% of that is £2.016m. Alba's Mcap is currently £2.2m. So Clogau etc is priced in at under £200k. So there's precious little trust in the Welsh gold venture right now. Hopefully it's an anomaly to be exploited by the optimistic, but if we don't prove the gold mine is commercial the value will certainly be zero one day.

Yes, the market is reading between the lines and concluding that the uncharitable old definition of a mine as "A hole in the ground with a liar at the top" may well apply to Alba. If there is any evidence to refute that suspicion, now is the time to produce it.

Is the AA corporate strategy still to divest all non copper assets and tout themselves as a pure copper producer to attract a higher takeover bid? If so I would have thought they'd be steaming in to the drilling programme at a faster pace than seems to have been the case up to now.

The 750% mark up was a one off rate for the limited edition coins. Who knows what amount of Clogau Gold will end up in each piece of jewellery thereafter? It could be quite minor amounts but still with a hefty price tag, depending on what the market will bear.

Whatever the strategy, we still need to see some gold coming up from the mine itself, then confidence in our long term future will grow and the s/p will follow.