Business
Operational Update and Portfolio Review
Operational Update and Portfolio Review.
About this update from Alba Mineral Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8143J Alba Mineral Resources PLC 21 August 2019 \n\nAlba Mineral Resources plc\n(\"Alba\" or the \"Company\")\n \nOperational Update and Portfolio Review\n \nAlba Mineral Resources plc (AIM: ALBA), the diversified mineral exploration and development company, provides this update on operations and on the outcome of the Board's recent review of the Company's asset and investment portfolio.\n \nHighlights\n \n· The Company has completed a review of its asset and investment portfolio.\n· The focus of activities for the remainder of 2019 will be the next phase of field work at Clogau as well as technical studies to refine products and markets for Amitsoq and TBS.\n· Preparations for an underground exploration programme at Clogau are underway.\n \nAlba's Executive Chairman, George Frangeskides, commented: \n\"After the excellent results we have announced at Clogau over the past 12 months, which have reinforced that project's enormous potential, it should come as no surprise that one outcome of Alba's recent review is that Clogau should continue to be a focus of the business moving forward.\"\n\"Our overriding objective will be to continue to deploy the Company's funds towards the fast-tracking of those of our assets that can most quickly move into the development and production phases, as that is where Alba will be able to make significant returns for shareholders, with cash-flow generated either from production or, if the right opportunity arises, by selling an asset for a multiple of our total exploration spend.\"\nOutcome of Review of Asset and Investment Portfolio\nThe Board of Alba has recently carried out a review of the Company's mining assets and oil & gas investments. The results of the Board's review will be outlined in greater detail in the Company's interim results (scheduled for release in the week commencing 26 August 2019) but may be summarised as follows:\n· The focus of the review was on assessing progress across the Company's project portfolio with a view to determining those assets with the greatest potential to achieve material returns for Alba within the shortest timeframe. \n· The outcome of the review is that those assets currently...