Alba Mineral Resources plc has released its Final Results for the year ended 30 November 2023. The company has achieved significant milestones, including the successful dewatering of the primary gold target in Clogau-St Davids Mine, with exceptional gold grades from samples taken from the newly dewatered No.4 Level. Additionally, Alba has completed airborne surveys over key regional exploration targets, identified three new targets within the existing mine area, and is expecting data sets from regional targets over a wider license area soon.
Moreover, Alba has made progress with its trenching program at Waste Tip, with 35 tonnes of fines extracted to date and processing underway at the company's on-site plant. The company has also expanded its portfolio by acquiring an option over the Andover West Lithium Project in Western Pilbara, WA, which includes significant lithium exploration activity in neighboring tenements.
GreenRoc Mining plc, an investee company of Alba, has made significant strides, with the publication of a Preliminary Economic Assessment (PEA) for the Amitsoq Mine and a Pre-Feasibility Study (PFS) for the Anode Plant, demonstrating substantial potential for gross revenue, profit, and capital payback.
The company has also announced that its Annual General Meeting will take place on 31 May 2024 at its registered office in London. The Annual Report for the period ended 30 November 2023 and Notice of Annual General Meeting will be available to download on the Company's website.
Alba's Chairman's Statement highlights the company's corporate strategy to unlock latent value from previously drilled or mined projects, with a particular focus on the Clogau-St David's Gold Mine and significant stakes in investee companies, including GreenRoc Mining Plc.
The review of activities includes the progress made at the Llechfraith Target as well as over regional exploration targets and at the historic gold Waste Tip. Despite encountering obstacles, such as historic rainfall, the company has obtained enhanced permits and is preparing for blasting and bulk sampling at the Llechfraith Target. The area has key geological characteristics for high-grade gold mineralization, making it a high-priority gold target within the Mine system.
Overall, Alba Mineral Resources plc has demonstrated significant progress and achievements across its projects, acquisitions, and investee companies, positioning the company for continued growth and success in the mining and exploration sector.