News blog
Alba Mineral Resources
- BY: Andrew Hore |
- POSTED: 06/02/2012 |
Alba Mineral Resources says that its joint venture partner in Mauritania will take part of the money owed to it in Alba shares.
Alba will issue 5.28m shares at 0.5p each to FOSSE Investments to satisfy a debt of £26,400. At 0.93p a share, Alba is valued at £1.02m. FOSSE will own 4.6% of Alba.
Alba is hoping to get a bank guarantee that will get part of a uranium licence in northern Mauritania reinstated. This was suspended due to lack of fieldwork and this could resume in the first quarter of 2012.
Alba has signed a joint venture agreement with Teck Ireland, which covers a zinc-lead project located in the Limerick area. Teck has an option to acquire 75% of the project by spending $400,000 on exploration by June 2015.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJanuary2012_28.pdf
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