22 Sep 2017 07:00
Alba Mineral Resources plc
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("Alba" or the "Company")
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Brockham Update
The Company has been advised by the Operator of Brockham, Angus Energy, as follows:
- That it has completed and submitted amendments to its Field Development Plan ("FDP") Addendum after consultation with the Oil & Gas Authority ("OGA") to include provisions for on-site power generation. These provisions detail a safe and efficient production process which will have the added benefit of allowing the Operator to repurpose surplus power to the National Grid.
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- That it has now received approval for its planning application to regularise the upgraded surface infrastructure at Brockham.
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- Accordingly, that it is preparing for final site preparation and subsequent production once the amended FDP Addendum is approved by the OGA. Â Given the required amendments to the FDP Addendum, the Operator's previous guidance regarding bringing Brockham into production by the end of the summer is delayed.
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- That it will work to commence production as soon as practical following OGA approval of the FDP Addendum and a further update will be provided in due course.
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This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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For further information please contact:
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Alba Mineral Resources plc George Frangeskides, Executive Chairman  |  +44 20 7264 4366 |
Cairn Financial Advisers LLP James Caithie / Liam Murray | Â +44 20 7213 0880 Â |
Dowgate Capital Stockbrokers Ltd Neil Badger | Â +44 1293 517744 Â |
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Alba's Project Portfolio
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Oil & Gas
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Horse Hill (Oil & Gas, UK): Alba holds a 15 per cent interest in Horse Hill Developments Limited, the company which has a 65 per cent participating interest and operatorship of the Horse Hill oil and gas project (licences PEDL 137 and PEDL 246) in the UK Weald Basin.
Brockham (Oil & Gas, UK): Alba has a direct 5 per cent interest in Production Licence 235, which comprises the previously producing onshore Brockham Oil Field.
Mining
Amitsoq (Graphite, Greenland): Alba owns a 90 per cent interest in the Amitsoq Graphite Project in Southern Greenland and has an option over the remaining 10 per cent.
Black Sands (Ilmenite, Greenland): Alba owns 100 per cent of mineral exploration licences 2017/29 and 2017/39 in the Thule region, north-west Greenland.
Melville Bay (Iron Ore, Greenland): Alba is entitled to a 51 per cent interest in mineral exploration licence 2017/41 in Melville Bay, north-west Greenland. The licence area benefits from an existing inferred JORC resource of 67 Mt @ 31.4% Fe.
Inglefield Land (Copper, Cobalt, Gold): Alba owns 100 per cent of mineral exploration licence 2017/40 in north-west Greenland.
Limerick (Base Metals, Ireland): Alba has 100 per cent of the Limerick base metal project in the Republic of Ireland.
El Mreiti (Uranium, Mauritania): Alba has applied for the reissue of a uranium permit in northern Mauritania, centred on known uranium-bearing showings.
Alba continues actively to review numerous other project opportunities which have value-enhancing potential for the Company whether by bolt-on or stand-alone acquisition, farm in or joint venture.
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Web: www.albamineralresources.com
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