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LONDON - Alba Mineral Resources PLC (AIM: ALBA), a company focused on gold and critical mineral exploration, has announced the sale of a 1oz gold coin for £20,000 at an auction held on Monday. This sale price significantly exceeds the current spot price of gold, demonstrating the rarity and appeal of Welsh gold.
The coin, which is 24-carat and part of a limited edition "Tyn-y-Cornel" series, was minted from gold sourced at Alba’s Clogau-St David’s Gold Mine in North Wales. The mine is known for its historical production and the distinctiveness of Welsh gold. The auctioned coin is the first gold sale from the mine under Alba’s management and is seen as a milestone for the company.
George Frangeskides, Alba’s Executive Chairman, expressed satisfaction with the auction’s outcome, stating the high sale price reflects the heritage and prestige associated with Welsh gold. He also indicated that the successful auction validates the company’s belief in the commercial potential of the Clogau-St David’s Gold Mine as well as the broader Dolgellau Gold Belt in North Wales.
Alba Mineral Resources is not only involved in gold exploration but also holds interests in other mining projects and investments across Wales, Greenland, England, and Sweden, including graphite, oil, rare earths, and other metals.
The company’s statement also contains forward-looking information regarding its future plans and the anticipated success of its mining operations. These statements are subject to risks and uncertainties that could cause actual results to differ from expectations.
This news is based on a press release statement and reflects the company’s current achievements and strategic developments in the mining sector.
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