Alba Mineral Resources Plc (AIM:ALBA) First Equity issue buy target of 6.0p

First Equity Limited this morning issued a ‘Buy’ recommendation research note on AIM-listed Alba Mineral Resources Plc. We take a further look to see why First Equity have put on such a high price target.

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Bid/Offer: 0.35p-0.37p
Market Cap: £8.4m
Recommendation: BUY
Price Target: 6.0p

“Alba has made significant progress over its project portfolio in the last 6 months. The most notable achievement is the advancement of its ilmenite project at Thule Black Sands (TBS) in Greenland. The licence was granted to Alba only last August and the Company is now remarkably aiming to define a maiden JORC resource in …”

PROJECTED NEWSFLOW

  • Maiden JORC ilmenite resource and exploration target at TBS being worked on in the near term.
  • Feasibility Study results in Q1 2018 on Bluejay’s project should read across directly into TBS.
  • Extended flow tests at Horse Hill anticipated to commence Q1/Q2 2018 to demonstrate commerciality of Kimmeridge and Portland pay-zones.
  • Oil production expected to get underway at Brockham in Q1 2018.
  • Exploration results from new Clogau gold project in Wales.

Click HERE to view the full research note in pdf format.



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