Street Calls of the Week
LONDON - Alba Mineral Resources Plc (AIM:ALBA) is progressing work across its portfolio of mining projects in Greenland, Sweden, and Wales, according to an operational update released Monday.
At the Motzfeldt Critical Metals Project in Greenland, where Alba has agreed to acquire a 51% interest, a mini-bulk sample of approximately 300kg has been prepared for metallurgical testing in South Africa. The company is also collaborating with St Andrews University on hyperspectral drone survey data, with results expected soon. A PhD student will work exclusively on the Motzfeldt Project for three years, primarily funded by the UK’s TARGET program.
For the Finnsbo copper-gold-rare earths project in Sweden, Alba has submitted drilling applications to local authorities. A pre-drilling site inspection is scheduled for this week, with drilling anticipated to begin in the first half of November, pending timely approvals.
At the Clogau Gold Mine in Wales, Alba has implemented several safety improvements following recommendations from HM Mines Inspector. Completed works include ventilation system surveys, new ladderways, safety platforms, and creation of a second egress. Additional modifications to shaft systems are expected to be completed by the end of October. The company anticipates resuming blasting operations in the first half of November.
Executive Chairman George Frangeskides referenced China’s recent announcement of new export controls on five additional rare earth elements, noting that this "underscores the importance of secure and diversified supply chains for critical minerals vital to electric vehicles, wind turbines and defense technologies."
The timeline for safety improvements at Clogau has been extended due to limited availability of specialist contractors, according to the press release statement.
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