Alba Mineral Resources PLC GreenRoc Mining: Commencement of Trading on AIM (1307N)
28 September 2021 - 4:59PM
UK Regulatory
TIDMALBA
RNS Number : 1307N
Alba Mineral Resources PLC
28 September 2021
28 September 2021
Alba Mineral Resources plc
("Alba" or the "Company")
GreenRoc Mining Plc: Commencement of Trading on AIM
Alba Mineral Resources plc (AIM: ALBA) is pleased to confirm the
admission to trading on AIM ("Admission") of GreenRoc Mining Plc
("GreenRoc") following Alba's divestment of its Greenlandic mining
assets to GreenRoc.
GreenRoc's ordinary shares began trading on AIM this morning
under the TIDM GROC with an implied market capitalisation of
GBP11.1 million having raised gross funds of GBP5.12 million. Alba
is the majority shareholder of GreenRoc with a 54 per cent.
stake.
GreenRoc has acquired all the Greenlandic mining assets of Alba
being the Thule Black Sands Ilmenite Project, the Amitsoq Graphite
Project, the Melville Bay Iron Project and the Inglefield
Multi-Element Project (the "Greenland Projects"). GreenRoc intends
to progress exploration and development activities in respect of
the Greenland Projects with the aim of securing a mining licence
and commencing commercial production at one or more of the projects
within the earliest practicable timescale.
George Frangeskides, Executive Chairman, commented : "I am
delighted to see GreenRoc trading on AIM this morning. For a long
time, we have strongly believed that moving our Greenland assets
into a Greenland-dedicated listed vehicle is in the best long-term
interests of Alba and its shareholders. With significant backing
for GreenRoc demonstrated by the GBP5.12 million raised on IPO, and
with a management team possessing the expertise required to
fast-track project development, we believe that our Greenland
Projects are now strongly positioned for growth. As the majority
shareholder in GreenRoc, Alba stands to benefit greatly from
that."
"With our Greenland Projects now divested, we look forward to
focusing on the development of our UK and Irish precious and base
metal assets."
For further information, please visit
www.albamineralresources.com or contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3950 0725
SPARK Advisory Partners Limited (Nomad)
Andrew Emmott +44 20 3368 3555
ETX Capital (Broker)
Thomas Smith
+44 20 7392 1494
St Brides Partners (Financial PR)
Isabel de Salis / Catherine Leftley
alba@stbridespartners.co.uk
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310 ("MAR"). With the publication of this
announcement via a Regulatory Information Service, this inside
information is now considered to be in the public domain.
Forward Looking Statements
This announcement contains forward-looking statements relating
to expected or anticipated future events and anticipated results
that are forward-looking in nature and, as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, competition for qualified staff, the
regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political
jurisdiction, uncertainties regarding the results of exploration,
uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the timing and granting of
regulatory and other third party consents and approvals,
uncertainties regarding the Company's or any third party's ability
to execute and implement future plans, and the occurrence of
unexpected events.
Without prejudice to the generality of the foregoing,
uncertainties also exist in connection with the ongoing Coronavirus
(COVID-19) pandemic which may result in further lockdown measures
and restrictions being imposed by Governments and other competent
regulatory bodies and agencies from time to time in response to the
pandemic, which measures and restrictions may prevent or inhibit
the Company from executing its work activities according to the
timelines set out in this announcement or indeed from executing its
work activities at all. The Coronavirus (COVID-19) pandemic may
also affect the Company's ability to execute its work activities
due to personnel and contractors testing positive for COVID-19 or
otherwise being required to self-isolate from time to time.
Actual results achieved may vary from the information provided
herein as a result of numerous known and unknown risks and
uncertainties and other factors.
Alba's Projects and Investments
Mining Projects Operated Location Ownership
by Alba
Clogau (gold) Wales 90%
----------- ----------
Dolgellau Gold Exploration
(gold) Wales 90-100%
----------- ----------
Gwynfynydd (gold) Wales 100%
----------- ----------
Limerick (zinc-lead) Ireland 100%
----------- ----------
Investments Held by Alba Location Ownership
----------- ----------
GreenRoc Mining Plc (mining) Greenland 54%
----------- ----------
Horse Hill (oil) England 11.765%
----------- ----------
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