Business
Completion of Broker Option & Operational Update
Completion of Broker Option & Operational Update.
About this update from Alba Mineral Resources Plc
[{"type":"text","content":"\n\nAlba Mineral Resources plc\n(\"Alba\" or \"the Company\")\n \nCompletion of Broker Option & Operational Update\n \nAlba Mineral Resources plc (AIM: ALBA) is pleased to announce that the Broker Option announced on 5 July 2023 has now closed, raising £15,150 (before expenses) through the issue of 12,120,000 million new ordinary shares at a price of 0.125 pence per ordinary share (the \"Placing\"), conditional on the admission of such new ordinary shares to trading on AIM (\"Admission\").\nThe Company is also pleased to provide this brief operational update in respect of the Company's Welsh gold projects:\n- The dewatering exercise at the Lower Llechfraith workings, the Company's primary gold target within the Clogau-St David's mine system, is proceeding and pumping of the water from the workings is ongoing. The Company expects to commence safety works this week.\n- In respect of the Company's Dolgellau Gold Exploration Project, the current advice from Alba's contractors, which will be undertaking the UAV (unmanned aerial vehicle) geophysical survey flights over numerous regional gold exploration targets within the Dolgellau Gold Field, is that due to further delays in the processing of the Company's application by the regulatory authority, the current estimate for the commencement of the flights is now late August or into September.\n \nAdmission to AIM\nApplication will be made for the new ordinary shares in the Placing to be admitted to trading on AIM (\"Admission\"). It is expected that Admission of the new ordinary shares will become effective at 8.00 a.m. on or around 28 July 2023. The new ordinary shares will be issued credited as fully paid and will rank in full for all dividends and other distributions declared, made or paid after Admission and will otherwise rank on Admission pari passu in all respects with the existing ordinary shares.\n \nTotal Voting Rights\nFollowing Admission, the total number of ordinary shares in issue will be 7,733,688,996. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares with voting rights will be 7,733,688,996. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to n...