Alba Mineral Resources (AIM:ALBA) UK, Greenland, Mauritania & Ireland

Last Thursday’s market update announce the terms of the Farm-Out Agreement between Alba and Angus Energy Weald Basin No 3 Limited (“Angus”), and receipt of the consent of the Oil and Gas Authority (“OGA”).

The Brockham partners have now completed the assignment from Angus to Alba of a 5% participating interest in Production Licence (PL) 235 comprising the Brockham Oil Field. Alba is now therefore a licensee under PL 235.’

But this is just one part of the Alba story, we take a look across the portfolio with a Share Price currently sitting at 0.26

The balanced natural resources investment and exploration portfolio consists of onshore UK oil and gas projects located in the Weald Basin (Horse Hill-1 Well and the Brockham oilfield), a graphite project located in Greenland, a zinc, lead and silver project located in Ireland and a uranium project located in Mauritania.

Brockham Site Visit August 2016 – Alba Minerals Resources

The projects are at different stages of development. The UK oil and gas project (Horse Hill-1) has been drilled and permitted to allow flow testing to be undertaken (which was completed in March 2016). Horse Hill represents a triple stratigraphic hydrocarbon play in the Weald Basin of south-east England.

Amitsoq Graphite Project

Amitsoq Graphite Project- Alba Minerals Resources

Alba is earning an interest in a Greenland graphite project which includes Amitsoq, a former graphite mine plus extensive exploration ground.

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Airborne EM Survey September 2016 – Alba Minerals Resources

Amitsoq Graphite Project, Greenland

On 27 February 2017 Alba announced that it has now completed the acquisition of a further 41 per cent interest in the Amitsoq graphite project in Southern Greenland (the “Project”), increasing its ownership of the project to 90 per cent. This follows the extensive exploration programme undertaken in 2016 encompassing a bulk sampling programme and airborne electromagnetic survey (details below).

The licence area comprises the historic Amitsoq graphite mine and is prospective not only for graphite but also for copper, gold, nickel and platinum group elements.

Airborne Geophysical Survey

In September 2016 the Company commissioned a specialist airborne geophysical survey company to carry out an airborne EM and magnetic survey at Alba’s Amitsoq Graphite project in southern Greenland.

The principal target of the survey was the southern portion of Amitsoq island, which hosts the former graphite mine, as well as a target to the north of the mine which hosts the Nickel-Platinum Group Element anomalies known as Amitsoq Dyke and Craig’s Dyke.

Limerick Base Metals, Ireland

Alba owns one exploration licence (PL3824; 17.11 km²) within the highly prospective Limerick Basin (also known as the Pallas Syncline).  The licence is 100% owned by Alba, was recently renewed to 26 May 2018 and covers Base Metals, Barytes, Gold and Silver.

Uranium Project, Mauritania

Since 2006 Alba has had a strategic investment in uranium exploration in West Africa by the way of a 50% interest in a private mineral exploration company, Mauritania Ventures Limited. The aim of this company has been to investigate the uranium potential of Mauritania, north-west Africa.

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Alba is in the process of submitting a new application to the Mauritanian Authorities to take out a new permit over a reduced area within the original permit area, which includes the centre of the previously discovered and announced high-tenor uranium anomalies. Alba and its joint venture partner will consider their options with regards to funding the next stage of exploration.

Conclusion, short term: All eyes on the Weald Basin, Brockham Oil Field. Things look to be hotting up and i am sure this will draw a lot of attention, traction once the news flow starts. This field is producing, the question now, how much of the black stuff will flow?

@DavidLenigas Twitter account 

Dont forget next door : The UK oil and gas project (Horse Hill-1) which looks likely to start in quarter 2-3 2017. Horse Hill represents a triple stratigraphic hydrocarbon play and this is now an appraisal drill with exploration drill – short flow testing completed.

This is going to be a interesting year for Alba Mineral Resources (AIM:ALBA) and it may be worth putting Alba on your watch list.


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