TIDMALBA
Alba Mineral Resources PLC
15 May 2023
Alba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector:
Mining
15 May 2023
Alba Mineral Resources Plc
("Alba" or the "Company")
GROC Update
Amitsoq Update
Virtual Presentation and Q&A
Alba Mineral Resources Plc (AIM: ALBA) is pleased to note the
RNS Reach today by its portfolio company, GreenRoc Mining Plc
("GreenRoc") that it has awarded the contract to undertake a formal
Preliminary Economic Assessment ("PEA") for its Amitsoq Graphite
Project to SLR Consulting Limited.
In addition, GreeenRoc has also announced that it has
established a wholly owned Greenlandic registered subsidiary,
Greenland Graphite a/s, to which the two graphite mineral
exploration licences (2013-06 and 2022-03) currently owned by
GreenRoc's subsidiary Obsidian Mining Ltd will be transferred,
pending approval by the Greenland Government. Under Greenland's
mining regulations, mining companies seeking to move to the
exploitation phase of a project must be incorporated in Greenland
and Greenland Graphite a/s has therefore been established for this
purpose.
The GreenRoc announcement is set out below without material
changes.
GreenRoc Mining Plc / EPIC: GROC / Market: AIM / Sector:
Mining
15 May 2023
GreenRoc Mining plc
("GreenRoc" or the "Company")
Amitsoq Update
Virtual Presentation and Q&A
GreenRoc Mining plc (AIM: GROC), a company focused on the
development of critical mineral projects in Greenland, is pleased
to announce that it has awarded the contract to undertake a formal
Preliminary Economic Assessment ("PEA") for its Amitsoq Graphite
Project to SLR Consulting Limited ("SLR"), a long-established UK
consultancy with considerable expertise in the field of mining and
mineral processing, including in Greenland. SLR will commence work
on the PEA in May 2023 and it is expected to be completed by
September 2023. The completion of a PEA is an important step in the
development of the Amitsoq Project towards commercial
production.
GreenRoc also today announces that it has established a wholly
owned Greenlandic registered subsidiary, Greenland Graphite a/s, to
which the two graphite mineral exploration licences (2013-06 and
2022-03) currently owned by GreenRoc's subsidiary Obsidian Mining
Ltd will be transferred, pending approval by the Greenland
Government. Under Greenland's mining regulations, mining companies
seeking to move to the exploitation phase of a project must be
incorporated in Greenland and Greenland Graphite a/s has therefore
been established for this purpose.
O n 25th of May 2023 at 12:00am GMT Stefan Bernstein, CEO of
GreenRoc, will provide an update on the Company's recent progress
in relation to the Amitsoq Project via the Investor Meet Company
platform, as well as answering questions submitted by attendees.
During the live presentation, he will provide more detail on the
commencement of the PEA, the processing of a graphite ore bulk
sample by UVR-FIA in Germany and his views on the EU's efforts to
meet its own raw material demands by reviving extractive industries
in Europe.
This investor presentation is open to all existing and potential
shareholders. Questions can be submitted up until 9am on the day
before the event via the Investor Meet Company Dashboard, and at
any time during it.
Investors can sign up to Investor Meet Company for free via this
link. Investors who already follow GreenRoc Mining plc on the
Investor Meet Company platform will be automatically invited.
GreenRoc's CEO, Stefan Bernstein, commented:
"The Preliminary Economic Assessment Study or PEA is the first
of a series of studies which will provide a detailed assessment of
the technical aspects and costs associated with the construction
and operation of our Amitsoq mine and processing plants. SLR, who
we have appointed to carry out the PEA, is a leading UK-based
mining consulting firm with a great deal of relevant experience and
expertise. The undertaking of this important piece of work
represents the next major step forward for the Amitsoq Project.
Upon its completion, the PEA will provide an economic model to
demonstrate the profitability of the mining of graphite at Amitsoq.
We look forward to sharing its results with shareholders in due
course.
"Establishing our Greenlandic registered subsidiary, Greenland
Graphite a/s, also represents another milestone for the Company. As
well as satisfying Greenlandic mining regulations which requires
the formation of a Greenlandic company prior to the commencement of
any mining operations, Greenland Graphite a/s will also enable the
Company to access more easily EU funding programmes in the field of
critical raw materials, something the Company is currently actively
exploring.
"I very much look forward to providing investors with a more
detailed update and answering their questions on 25 May 2023 at
12pm via the Investor Meet Company platform."
**ENDS**
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 / Neil Baldwin +44 20 3368 3555
CMC Markets plc (Broker)
Thomas Smith / Douglas Crippen +44 20 3003 8632
St Brides Partners (Financial PR)
Isabel de Salis / Catherine Leftley alba@stbridespartners.co.uk
Alba's Projects and Investments
Mining Projects Operated Location Ownership
by Alba
Clogau (gold) Wales 100%
----------- ----------
Dolgellau Gold Exploration
(gold) Wales 100%
----------- ----------
Gwynfynydd (gold) Wales 100%
----------- ----------
Investments Held by Alba Location Ownership
----------- ----------
GreenRoc Mining Plc (mining) Greenland 4 4 .7%
----------- ----------
Horse Hill (oil) England 11.765%
----------- ----------
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END
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