Alba Mineral Resources PLC Horse Hill Update (3099F)
November 13 2020 - 8:38AM
UK Regulatory
TIDMALBA
RNS Number : 3099F
Alba Mineral Resources PLC
13 November 2020
Alba Mineral Resources plc
("Alba" or the "Company")
Horse Hill Update
Alba Mineral Resources plc (AIM: ALBA) notes the announcement
today by UK Oil & Gas Plc, as majority shareholder of Horse
Hill Developments Limited (the Operator of the Horse Hill Oil
Project in the Weald Basin in southern England), that a hearing
will take place at the Planning Court of the Royal Courts of
Justice, London on 17-18 November 2020 regarding an application for
judicial review of the consent granted by Surrey County Council
("SCC") in September 2019 for long-term production at the Horse
Hill oil field.
The Company further notes that UKOG states in its announcement
today that its legal advisers remain confident that SCC's planning
decision remains entirely lawful and that the claimant's case is
unsound, that the Weald Action Group's two previous attempts to
obtain judicial review on similar grounds were refused by two
separate judges, and that SCC's defence will be joined by counsel
for the Secretary of State for Housing Communities and Local
Government acting as an interested party with respect to UK
planning policy and guidelines.
Further material updates will be released as and when the
Company is made aware of these.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
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.
For further information, please contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3907 4297
Cairn Financial Advisers LLP (Nomad)
James Caithie / Liam Murray +44 20 7213 0880
ETX Capital (Broker)
Thomas Smith +44 20 7392 1494
Alba's Project and Investment Portfolio
Project (commodity) Location Ownership
Mining Projects
Amitsoq (graphite) Greenland 90%
----------- ----------
Clogau (gold) Wales 90%
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Inglefield (copper, cobalt,
gold) Greenland 100%
----------- ----------
Limerick (zinc-lead) Ireland 100%
----------- ----------
Melville Bay (iron ore) Greenland 51%
----------- ----------
TBS (ilmenite) Greenland 100%
----------- ----------
Oil & Gas Investments
Brockham (oil) England 5%
----------- ----------
Horse Hill (oil) England 11.765%
----------- ----------
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END
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