Alba Mineral Resources (ALBA)

Sector:

Mining

Index:

FTSE AIM All-Share

 0.045p
   
  • Change Today:
      0.000p
  • 52 Week High: 0.10p
  • 52 Week Low: 0.035p
  • Currency: UK Pounds
  • Shares Issued: 9,726m
  • Volume: 5,591,684
  • Market Cap: £4.38m
  • RiskGrade: 447

Alba Minerals lands 5 year renewal for Greenland graphite licence

By Duncan Ferris

Date: Thursday 22 Mar 2018

LONDON (ShareCast) - (ShareCast News) - Alba Mineral Resources won a five-year extension to its Amitsoq graphite licence in Greenland, the company said on Thursday.
The mineral exploration and development company currently holds 90% ownership of the licence, with an option for 100% ownership, for which the standard expenditure commitment has been reduced to zero by the government of Greenland.

George Frangeskides, executive chairman of Alba Mineral Resources, said: "We are grateful to the government of Greenland for the continuing strong support they give to those of us operating in the mining sector in Greenland. The latest demonstration of that support, in recognition of a view that global conditions for mining exploration remain sub-optimal, is the government's decision to apply a moratorium on exploration expenditure commitments."

Two stage metallurgical testwork of samples from the Amitsoq site has confirmed the potential for production of a marketable grade concentrate of graphite from the site.

As part of the testwork Flotation at differing grind sizes showed that the graphite was recoverable at a grind below 500 microns at "extremely high recoveries" with a maximum of 97.4% recovery at a relatively coarse 150 micron grind.

"The grant of a further five year licence term is a major development and reward for the significant work we have put into the project over the past few years. Aside from Amitsoq, we now have a strong portfolio of exploration assets in Greenland and we look forward to announcing our plans for this coming field season soon," said Frangeskides.

The AIM traded company also holds interests in the Thule Black Sands, Melville Bay Iron Ore and Inglefield Land projects in Greenland as well as oil and gas projects in UK, a base metals project in Ireland and a uranium project in Mauritania.

As of 1114 GMT, Alba Mineral Resources' shares were up 4.17% at 0.37p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ALBA Market Data

Currency UK Pounds
Share Price 0.045p
Change Today 0.000p
% Change 0.00 %
52 Week High 0.10p
52 Week Low 0.035p
Volume 5,591,684
Shares Issued 9,726m
Market Cap £4.38m
RiskGrade 447

ALBA Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
38.83% above the market average38.83% above the market average38.83% above the market average38.83% above the market average38.83% above the market average
20.63% above the sector average20.63% above the sector average20.63% above the sector average20.63% above the sector average20.63% above the sector average
Price Trend
82.62% below the market average82.62% below the market average82.62% below the market average82.62% below the market average82.62% below the market average
66.42% below the sector average66.42% below the sector average66.42% below the sector average66.42% below the sector average66.42% below the sector average
Income Not Available
Growth Not Available

ALBA Dividends

No dividends found

Trades for 31-Oct-2024

Time Volume / Share Price
16:26 984,251 @ 0.043p
15:59 422,066 @ 0.045p
15:21 5,032 @ 0.046p
14:51 1,404,242 @ 0.045p
12:00 10,000 @ 0.042p

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