The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I was just putting some facts up about the permit application, not intending to give ideas or false hopes on timescales. Whilst Alba's application looks/is very straight forward I am concerned about the length of time it may take NRW to issue the permit. My concern is because Alba have asked for (are asking for) a temporary abstraction permit, whilst waiting on the new requested permit and NRW have stated they "are not in the mind to issue" a temporary permit. Why would Alba want a temporay permit if the full permit revision was going to happen very quickly? I have no idea how long it will be before any type of new permit is issued. It can be quickly if NRW are minded to make it quickly. I have my doubts on NRW ability to act quickly, I hope they prove me wrong.
The permit Alba have requested is: Application to change an environmental permit: Part C6 new bespoke water discharge activity and groundwater (point source)
activity.
Some more information from Alba permit application. This change in permit could not be more simple, its all down to how quick NRW will be..
Are there any other factors we need to take into account as part of your application?
"Yes"
If yes, please give details:
"Other than requesting an increase in the daily discharge volume nothing else has changed from our
existing permit"
@Noobz I think I will be repeating myself here myself so sorry for that. Alba are not pumping at full rate. They have asked for a temporary change to allow them to up the rate, whilst the full application for an increase in rate is being processed
Alba have stated that NRW are not inclined to agree to this temporary change, although Alba are still trying to persuade them to allow it.
So now we have Alba's version of events. I have to sadly agree with "Copland", in that we are at the mercy of NRW jobsworths. Its disheartening to read in the RNS that in relation to a temporary increase in water discharge volume "While NRW has indicated that it is not minded to grant a temporary variation, the Company continues to make formal representations in that regard" It was of note to see that on Alba's initial application for an increase in discharge volume, they had ticked the box to say that the information should be put on the public register, and indeed it was. Then later we found out that this had been changed at Alba's request and the information removed. I suspect this was due to NRW reluctance to grant a temporary variation in license. So now its a waiting game and lets see how amenable NRW want to be.
To clarify for those who did not se it the first time. "The request for the change to the discharge volume was made and paid for on the 3rd August 2023, at a cost of £3,130. The date that Alba asked for it to be effective from was 7 th August 2023"
What I would like to know if possible is... how long will it will be before Alba's request for increasing the discharge volume is granted?
To this end I have asked "Stringy Bob" at NRW if he can give me an idea, I am not sure he will oblige but I have asked anyway.
I do know, that form the application to NRW to amend the permit we have three levels of complexity, our request must fit into one of these. The more complex, the longer it takes for the permit to be assessed and granted.
To keep it simple we have 1.Easy 2. Normal. 3.Complex.
Due to the fact that we are INCREASING the volume of water to be pumped out, our application can not fit into the easy category by default. So Alba's application has been made in the "Normal" category but importantly it is stated that apart from the increase in volume, nothing else will change. This makes it as simple as it can get in the "normal category". Such things that could change could have been the chemical composition of the water being discharged, that would require further data, or other issues that would require a site visit, but none of those thing should apply, so the application has stated. So it should be a straightforward process, but who knows with NRW. Sorry if that was long winded, I hope it was of some use.
Why the information on the public data base has vanished, I do not know, I am trying to find that out also, the new application was Pan -022870
For clarification Alba's request to increase volume. "We are currently pumping at 100m3/day and in part due to the heavy rains in July we are no longer
dewatering, but simply maintaining a level. Therefore increasing the daily volume to 250m3/day would
permit a dewatering value of the order of 150m3/day plus allow for the 100m3/day inflow we are
seeing."
The request for the change to the discharge volume was made and paid for on the 3rd August 2023, at a cost of £3,130. The date that Alba asked for it to be effective from was 7 th August 2023.
"We are currently pumping at 100m3/day and in part due to the heavy rains in July we are no longer
dewatering, but simply maintaining a level. Therefore increasing the daily volume to 250m3/day would
permit a dewatering value of the order of 150m3/day plus allow for the 100m3/day inflow we are
seeing."
I am sure George thought very carefully about using the phrase " quantum leap"... Amitsoq is well set to make another quantum leap forward during the remainder of this year." its not a phrase that should be used lightly. Food for thought.
My thoughts to a consolidation, at some point maybe, but to do this at this time with things the way they are, at this price would be a huge no, I do not think the board would consider this at the moment.
@LordesOrLoads
Yes it would be nice, unfortunately my man and dog only frequented the hallowed halls of NRW so no more info I am afraid. I am happy right now, apart from with the share price of course, but am confident that will sort its self out, when the news starts flowing.
@Robbie, I could be wrong, but going on memory I think George has said previously it would take about two weeks to remove the water once the pumping started.
I will post this for any new investors who wish to know a little bit more on the dewatering.
https://www.youtube.com/watch?v=tlrjYkxxU2M
@herbert, agreed.
The serious message from the twitter was..."we are now ready to go with the pumping out of the water"..they said they would not hang around, and they are doing as they promised. I have to say, I do like the blue colour of Georges shirt , think it will match my eyes. Might have to get me one of them when the gold hits the pan... and yes, I know, it may be a while before that happens.
Warms my heart to see George looking and sounding so well, after seeing him in his last interview.. No doubt someone will be complaining about his Alba polo shirt and questioning who paid for it..share holders money the scoundrel!!
I say well done George, keep up the good work. I think you are doing a good job. I will sit back and continue to watch the comedy comments come in from are new most knowledgeable shareholders and some of the pessimistic old boys. Its been quite a show on here since the dewatering RNS and the placing RNS.
Fantastic news to see the RNS drop at long last. To all of us who held our nerve for such a long time, its great day and a huge step forward. Although at times it was hard to see the wood for the trees, I say well done Alba for all your hard work and perseverance. Thanks to the man and his dog and the good people in NRW Species Licensing and Water permitting, who have been working hard for Alba to get the permits determined(although at times that seemed hard to believe) I think my work is done for now. I will sit back now and enjoy the ride, that I hope will be a bit faster now. Cheers also for the nice comments, I do hope I helped in some way, that was my intention.