RE: RNS30 Aug 2019 08:37
The Board has determined that the Clogau Gold Project will remain a key focus of the Company's business moving forward, not least for the following reasons:
o the existing significant underground development, which would cost many millions of pounds to construct at today's prices, already in place across five mine areas (albeit there remain areas in need of rehabilitation work);
o the commercial potential of Clogau, which is underpinned by a number of factors including the fact that historic production was from very high-grade pods, the premium price that Welsh gold attracts over normal spot rates and the rising price of gold generally; and
o the untapped gold potential that exists throughout Alba's entire licence area, as illustrated by the ten new gold anomalies that Alba has so far discovered across the Dolgellau Gold Belt, with one anomaly dwarfing the size of the historic Clogau-St David's Mine.