Alba Mineral Resources PLC Licence Extension Over Clogau-St David's Gold Mine (6949O)
February 11 2021 - 2:00AM
UK Regulatory
TIDMALBA
RNS Number : 6949O
Alba Mineral Resources PLC
11 February 2021
Alba Mineral Resources plc
("Alba" or the "Company")
Extension of Term of Exclusive Exploration Licence over
Clogau-St David's Gold Mine, North Wales
Alba Mineral Resources plc (AIM: ALBA) is pleased to report that
The Crown Estate has agreed to extend the duration of the Company's
exclusive exploration licence over the Clogau-St David's Gold Mine
in north Wales.
Alba's subsidiary, GMOW (Operations) Limited ("GMOW"), was
originally awarded a six-year exclusive exploration licence, termed
an Option Agreement, with effect from 10 February 2015 over a 107
km(2) area encompassing the Clogau-St David's Gold Mine and the
majority of the Dolgellau Gold Belt (the "Exploration
Licence").
The Exploration Licence has now been extended for a further four
years, being the maximum extension possible under the terms of the
original licence. As such, the Exploration Licence will now remain
in full force and effect until 9 February 2025. In keeping with the
original licence terms, GMOW is required to submit formal progress
reports every two years. As and when GMOW is ready to proceed to
commercial production, it will apply to convert the Exploration
Licence into a formal, long-term Lease.
George Frangeskides, Alba's Executive Chairman, commented : "We
are delighted to have secured the maximum possible extension to our
exclusive exploration licence over the Clogau-St David's Gold Mine.
We can now continue our progress towards reopening the mine, secure
in the knowledge that our rights are protected into the
future."
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 3950 0725
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%
----------- ----------
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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