Alba Mineral Resources has provided an update on the dewatering and safety works at its Clogau-St David's Gold Mine in north Wales. The company has applied for formal variations to its discharge and abstraction permits and is awaiting approval. However, the company's request for a temporary extension to the higher rate abstraction was refused by the environmental regulator, Natural Resources Wales. As a result, the company has started emergency abstraction to protect the safety and access works completed on Levels 2 and 3. The company has also completed the final bat exclusion and noise mitigation measure required for exploration activities at Level 4.
In addition, Alba Mineral Resources has provided an update on its planned geophysical survey over its key regional gold targets. The Civil Aviation Authority (CAA) has approved the operational authorisation for the survey, but the final step in the permitting process is yet to be completed. The company expects the approval to be granted in the coming days. Due to this delay and the revised availability of its contractors, the survey is now expected to be undertaken in October 2023.
This announcement contains forward-looking statements and highlights the risks and uncertainties associated with the company's operations, including general economic conditions, competition, regulatory processes, technical issues, and unexpected events.