Key information

Use of proceeds

The proceeds from the Placing are intended to be used to continue the Company's value-enhancing activities across the Company's portfolio including: In relation to the Clogau-St David's Gold Mine in Wales (100% owned by Alba): - At the Llechfraith Target, the Company's highest priority gold target at the Mine, where a 122 m extension to the Llechfraith payshoot has been identified in Alba's drilling, and following the Company's announcement of exceptional gold grades of up to 4 oz/t (see the RNS of 26 March 2024), ongoing operations in respect of the bulk sampling of circa 150 tonnes of ore both on and below No.4 Level and its subsequent processing and refining for its gold content. - In relation to the Waste Tip at Clogau, where average grades from Alba's sampling of the fine fraction (<20mm material) have averaged more than 2 g/t, the extraction of a further circa 120 tonnes of fines and the subsequent processing and refining of that material for its gold content. In relation to the wider Dolgellau Gold Field (100% owned by Alba): - In respect of the completed airborne geophysical survey over a number of the regional exploration targets identified by Alba within the Dolgellau Gold Field, the completion of the interpretation of the survey data followed by the design and implementation of ground-based exploration over those new or refined gold targets identified by the survey. In relation to corporate activities: - The furthering of partnership, marketing and offtake discussions in relation to gold produced at Clogau and the continuation of development work to establish a fully traceable "mine-to-market" supply chain to underpin the Company's ability to command a premium price for its gold production. - Due diligence and option fees / deposits in respect of potentially value-enhancing acquisitions and investments. - For general working capital purposes.

Company announcement

https://www.londonstockexchange.com/news-article/ALBA/share-placing/16399005

Legal information

• Legal Documents
• Risk Warning

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