Alba Min Res PLC - Brockham Update
"Further to our announcement of
In the interim, whilst the Company evaluate options for the site and the Licence, including addressing the Portland reservoir, the Company announces that it has entered into preliminary discussions with a third party regarding a sale of the Company's own 65% interest in the Licence. These negotiations are at a very early stage and there can be no certainty as to the outcome including the terms on which any such sale can be made. In the light of this, the Company will be considering whether any impairment will be required in the carrying cost of the Brockham licence, currently representing 26% of the Company's gross asset value as at
Alba owns a direct 5 per cent interest in PL 235 and will update its shareholders in due course.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information, please contact:
George Frangeskides, Executive Chairman +44 20 7264 4366
James Caithie /
Jason Robertson +44 20 7374 2212
Yellow Jersey PR (Financial PR/ IR)
Tim Thompson / Harriet Jackson / Henry Wilkinson +44 77 1071 8649
Amitsoq (Graphite, Greenland): Alba owns a 90 per cent interest in the
Clogau (Gold, Wales): Alba owns a 90 per cent interest in Gold Mines of
Inglefield Land (Copper, Cobalt, Gold): Alba owns 100 per cent of mineral exploration licence ("MEL") 2017/40 and 2018/25 in north-west Greenland.
Limerick (Base Metals, Ireland): Alba owns 100 per cent of the Limerick base metal project in the Republic of Ireland.
Thule Black Sands (Ilmenite, Greenland): Alba owns 100 per cent of MEL 2017/29 in the Thule region, north-west Greenland.
Oil & Gas
Brockham (Oil & Gas, UK): Alba has a direct 5 per cent interest in Production Licence 235, which comprises the previously producing onshore Brockham Oil Field.
Horse Hill (Oil & Gas, UK): Alba holds an 11.765 per cent effective interest in the Horse Hill oil and gas project (licences PEDL 137 and PEDL 246 covering a total area of 142.9 km²) in the
This information is provided by RNS, the news service of the
Quick facts: Alba Mineral Resources PLC
Market Cap: £3.15 m
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