Alba Mineral Resources PLC Brockham Update (5035R)
22 September 2017 - 4:00PM
UK Regulatory
TIDMALBA
RNS Number : 5035R
Alba Mineral Resources PLC
22 September 2017
Alba Mineral Resources plc
("Alba" or the "Company")
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.
- That it has now received approval for its planning application
to regularise the upgraded surface infrastructure at Brockham.
- Accordingly, that it is preparing for final site preparation
and subsequent production once the amended FDP Addendum is approved
by the OGA. 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.
- 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.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
Alba Mineral Resources
plc
George Frangeskides,
Executive Chairman +44 20 7264 4366
Cairn Financial Advisers
LLP
James Caithie / Liam
Murray +44 20 7213 0880
Dowgate Capital Stockbrokers
Ltd
Neil Badger +44 1293 517744
Alba's Project Portfolio
Oil & Gas
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.
Web: www.albamineralresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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