30th Aug 2024 22:03
Alba Mineral Resources PLC - Northern Europe-focused mineral explorer - In financial year ended May 31, swings to pretax loss of GBP639,000 from profit of GBP2.1 million a year prior. Reports no revenue. Says prior year profit was due to the loss of its majority share in Greenland-focused GreenRoc Mining PLC. It had reported a gain on deemed disposal last year of GBP2.7 million. Looking ahead, notes completed first blast at Clogau gold mine in Wales. Says successful drilling at eight blast holes produced several tonnes of broken vein ore. Adds material will be removed to surface processed in due course.
Chair George Frangeskides comments: "We are delighted to have successfully and safely completed the first blast at our main gold target at Clogau, the Llechfraith Target. To our knowledge, this is the first blast to have taken place at Clogau since the 1980s and is a testament to the skill and dedication of our mining personnel onsite. We look forward now to continuing blasting operations on No.5 Level."
Current share price: 0.046 pence, closed up 8.2% in London on Friday
12-month change: down 54%
By Aidan Lane, Alliance News reporter
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