Alba Mineral Resources PLC Completion of Acquisition of Further Stake in GMOW (8614Y)
24 August 2018 - 11:32PM
UK Regulatory
TIDMALBA
RNS Number : 8614Y
Alba Mineral Resources PLC
24 August 2018
Alba Mineral Resources plc
("Alba" or the "Company")
Alba Completes Acquisition
of Further Stake in Clogau Gold Project
Alba Mineral Resources plc (AIM: ALBA), the diversified mineral
exploration and development company, is pleased to confirm, further
to the announcement of 16 July 2018, that it has now completed the
acquisition of a further 41 per cent interest in Gold Mines of
Wales Limited ("GMOW") on the terms set out in that announcement.
Accordingly, Alba now holds a 90 per cent interest in the Clogau
Gold Project situated within the Dolgellau Gold Belt in North
Wales, United Kingdom (the "Project").
Admission to AIM
Application will be made for the 185,714,285 Alba consideration
shares to be admitted to trading on AIM ("Admission"). It is
expected that Admission will become effective at 8.00 a.m. on 31
August 2018. The new ordinary shares will be issued credited as
fully paid and will rank in full for all dividends and other
distributions declared, made or paid after Admission and will
otherwise rank on Admission pari passu in all respects with the
existing ordinary shares.
Total Voting Rights
Following Admission, the total number of ordinary shares in
issue will be 3,034,329,219. The Company does not hold any ordinary
shares in treasury. Therefore, the total number of ordinary shares
with voting rights will be 3,034,329,219. This figure may be used
by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
share capital of the Company under the Financial Conduct
Authority's Disclosure and Transparency Rules.
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 (Nomad)
James Caithie / Liam Murray +44 20 7213 0880
First Equity Limited (Broker)
Jason Robertson +44 20 7374 2212
Yellow Jersey (PR/IR)
Tim Thompson/Harriet Jackson +44 7710 718649
Alba's Project Portfolio
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.
Clogau (Gold, Wales): Alba owns a 90 per cent interest in Gold
Mines of Wales Limited ("GMOW"), the ultimate owner of the Clogau
Gold project situated in the Dolgellau Gold Belt in Wales.
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 owns 100 per cent of the
Limerick base metal project in the Republic of Ireland.
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.
Thule 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.
Oil & Gas
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.
Horse Hill (Oil & Gas, UK): Alba holds a 18.1 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.
Web: www.albamineralresources.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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