Alba Mineral Resources PLC Issue of Equity (9564G)
10 November 2018 - 2:30AM
UK Regulatory
TIDMALBA
RNS Number : 9564G
Alba Mineral Resources PLC
09 November 2018
Alba Mineral Resources plc
("Alba" or "the Company")
Placing to raise GBP750,000
Alba Mineral Resources plc (AIM: ALBA) is pleased to announce
that it has raised GBP750,000 (before expenses) through the issue
of 227,272,727 new ordinary shares at a price of 0.33 pence per
ordinary share (the "Placing"), conditional on the admission of
such new ordinary shares to trading on AIM ("Admission").
The placing proceeds are intended to be used principally in
relation to the following project acceleration activities: at the
Company's Clogau Gold Project in north Wales, where work continues
in furtherance of the re-opening of the Clogau Gold Mine and where
an extensive regional gold exploration campaign is currently being
planned following the successful completion of the recent near-mine
ground geochemical and geophysical surveys; continued support for
the Company's investments in the onshore UK oil and gas sector
(including in relation to the planned appraisal test programme at
the Brockham Oil Field, and at Horse Hill); furthering and
completing analyses at the Company's wholly-owned Thule Black Sands
and Inglefield polymetallic projects post this summer's field
exploration programmes; drilling one or more targets at the
Company's Limerick base metals project; and to bolster the
Company's working capital.
Admission to AIM
Application will be made for the new ordinary shares to be
admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective at 8.00 a.m. on or around 26
November 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 3,261,601,946. The Company does not hold any ordinary
shares in treasury. Therefore, the total number of ordinary shares
with voting rights will be 3,261,601,946. 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 (Financial PR/ IR)
Tim Thompson / Sophia Macleod / Henry Wilkinson +44 77 1071 8649
alba@yellowjerseypr.com
Alba's Project & Investment 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 covering a
total area of 142.9 km(2)) in the UK Weald Basin.
Web: www.albamineralresources.com
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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