Business
Alba Completes Further Motzfeldt Acquisition
Alba Mineral Resources Plc has completed its acquisition of a 51% controlling interest in the Motzfeldt Critical Metals Project in Greenland, with the exploration licence now formally in its second five-year term through 2030. This significant milestone involved the issuance of 2,146,103,977 new ordinary shares, expected to be admitted to trading around May 20, 2026, bringing the total issued shares to 25,981,154,208. Following this, the total voting rights will be 25,981,154,208, and executive chairman George Frangeskides and his spouse will hold approximately 7.6% of the enlarged share capital. Disclaimer*
About this update from Alba Mineral Resources Plc
[{"type":"text","content":"\n\nAlba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector: Mining\n14 May 2026\nAlba Mineral Resources Plc\n(\"Alba\" or the \"Company\") \n \nAlba Completes Further Acquisition of Motzfeldt Project\nPDMR disclosures\nAlba Mineral Resources plc (AIM: ALBA), the gold and critical raw materials focused exploration and development company, is delighted to confirm that the Greenland Government has approved the Company's acquisition of a controlling 51% interest in the Motzfeldt Critical Metals Project in south Greenland (\"Motzfeldt\" or the \"Project\").\nFurther to the Company's announcement of 28 October 2025, this approval was the final condition required to be satisfied for Alba to proceed to complete the acquisition of a further 25.5% interest in the Project and thereby increase its interest to a total of 51%. Consequently, the Company has now proceeded to the Completion of this acquisition.\nThe Greenland Government has also confirmed that the Project's exploration licence has formally progressed into its second five-year term, covering the period from 2026 to 2030 inclusive.\n\n\nDr Curtis Rooks, Alba's Principal Geologist, commented:\n\"The completion of Alba's acquisition of a majority interest in the Motzfeldt Project marks a major milestone for the Company. Motzfeldt is one of only five projects in Greenland to be granted 'very large deposit' status[1] and is regarded as one of the country's most important critical mineral projects.\n\"Our recent confirmation of high-grade results for multiple critical metal commodities at the Merino prospect, together with the existing defined resource at the Aries deposit, further underlines Motzfeldt's potential as a large-scale polymetallic project across an extensive licence area.\n\"We look forward to providing further updates regarding our ambitious work programme for the remainder of the year as we advance Motzfeldt firmly towards the next stage of development.\"\n\n\nIssue of Consideration Shares and Admission to trading\nIn accordance with the terms set out in the Company's RNS dated 28 October 2025, 2,146,103,977 new ordinary shares in Alba have been issued (\"Consideration Shares\"). It is expected that Admission of the new ordinary shares will become effective at 8.00 a.m. on or around 20 May 2026. The Consideration Shares will be issued credited as fully paid ...