Friday, 10 April 2015

Alba Mineral Resources , updated

The excitement of the 200% rise and consolidation at 60% to 100% is almost complete . Postings have increased exponentially , mainly of little substance .
  Why to stick with this minnow ?
     Uranium in Mauritania , Now this licence holds a lot more than has been market detailed , I am not usually wrong on this count . People seem to underestimate uranium and it`s links to other minerals , gold / silver / others. There are several other companies from the UK , also trying to find these minerals in the same area .
 All a bit coincidental that Mauritania is the place to be ? Perhaps .
 Others things of note are why no RNS , " no reason for rise? "
 Why the BOD are taking no money from the company ?
 Why have all the major shareholders increased their holdings , over the past three years ?
 That`s four good reasons to stick with it . Let`s hope the lucky strike news comes through sooner , rather than later . Having seen sells at 0.15 . Seeing them now at  0.35 , gives a warm feeling to the cockles .
 Good luck to the geologists on their hunt for Red October .


  History Courtesy of Tricky Dicky Two ;

   Alba Mineral Resources (ALBA.L) shares in issue 110m, share price 0.5p – 1.0p., current market cap £0.68m. They are an exploration company and describe themselves as:-

‘Alba Mineral Resources PLC is a committed, technically driven explorer with a commodity focus on uranium, nickel and gold. Alba currently has interests in a number of well researched properties owned in its own right or in conjunction with other parties, primarily in Scotland, Mauritania and Sweden. The Company also has wholly-owned gold and base metal interests in Scotland and Ireland.’
Forte Energy operate in the north of the country, this is mainly a uranium play. Forte look to be closing in on success and Alba have tenements and uranium licenses in the same region. In the south-west of Mauritania Alba are applying for several IOCG licenses and its in this area I see a real opportunity. The copper, gold, chromium and rare earth metals are all present in the area. 

Alba Minerals are currently priced to go bust, however, one month ago existing investors bought large numbers of shares at 0.5p. After ringing the company with an offer to invest direct I was left with the impression they were not interested. An extraordinary reaction given their current cash balance.

A placement or takeover may be just around the corner. They may simply run out of money. The reaction to my offer to invest direct together with shares being bought 4 weeks ago suggests something is afoot. 

The salient points to note:-

1) Alba currently have 4 months of money left in the bank with a cash burn of £4,000 per months. See recent RNS dated 28th. August 2009.

2) Regency Mines and Starvest PLC recently invested in Alba Minerals, see RNS dated 3rd. August 2009. The placement resulted in the following share holdings:-

Name Previous Current %

Michael Nott 5,000,000 5,000,000 4.6%
Regency Mines 4,000,000 17,934,047 16.3%
EP&F Capital plc 4,000,000 4,000,000 3.6%
Starvest plc 2,000,000 13,875,000 12.6%
Aurum Services 1,450,316 1,450,316 1.3%
Sandy Archibald 500,000 4,000,000 3.6%
Kerr Anderson 200,000 3,570,000 3.2%
Vaughan Williams 100,000 3,470,000 3.2%

3) Starvest PLC are a major shareholder in Regency Mines.

4) Directors of Alba Minerals are also directors of Red Rock Resources. Regency Mines have a substantial stake in Red Rock Resources. Michael Nott is a directors of both Alba and Red Rock. Nigel Duxbury is a director of Alba and EP&F Capital. Sandy Archibald is a director of Alba and Arum Services.

5) Regency Mines recently announced, 10th. September 2009, £3m of funding through a SEDA.

Alba Mineral Resources have a 50% stake in a company called Mauritania Venture Ltd. The remaining 50% is own by Fosse Investments Ltd.

It’s the prospects in Mauritania that are of particular interest. The below link highlights the areas in question.
Alba are working in two distinct areas in the country, north and south-west. The tenements in the north are very close to where Forte Energy are currently establishing uranium resources. Alba have uranium exploration licenses for the blocks in the north of the country in the Bir En Nar region. Forte Energy should be announcing before the end of this year their results from the same area which should trigger a JV with Areva the big French nuclear company. They have also discovered copper, gold and chrome in this region (see 28th. Feb announcement below).

In the south west of the country Alba are currently applying for five IOCG style mineralization permits. In this area Alba will be looking for copper, gold and rare earth metals. Already working in the south west are Shield Mining and Aura Energy (both ASX listed).

Why are Alba’s tenements in Mauritania interesting? The attached map shows where Alba’s licenses are in Mauritania (under the name of Mauritania Ventures Ltd. of which Alba Minerals own 50%).
Transportation links to the north of the country are poor at present, see attached map below. The Forte Energy JV with Areva, however, will result in the area being developed and new transport links being built. This should result in the Alba licenses in the north becoming far more economic to develop and therefore valuable.
The attached announcement from 7th. July 2008 confirms the existence of uranium. A more detailed report would be required to confirm the quantity and quality of the resource.
The tenements in the south west of the country are particularly interesting. The attached survey maps show the existence of copper, gold and rare earth metals in or near the licenses Alba Minerals are currently applying for.
As far as I’m aware no detailed exploration work has been carried out in the south west by Alba to date. They have done some initial exploratory work and made a preliminary announcement on 28th. February 2008.
Why is this an interesting play? Firstly, it is very high risk. They only have 4 months of money left so either dilution is on the way, a take over or they will fold. They have not done, as far as I am aware, any detailed exploration work. I strongly suspect they are some years away from a bankable feasibility study on any of their licenses. So keep all of that in mind when drawing your conclusions.

I think it is very significant that both Regency Mines and Starvest put more money into Alba recently and that the directors accepted shares in lieu of monies outstanding. You do not invest more money in a company and you don’t take shares in lieu of payment if you don’t think the company is on to something. I think the Forte Energy and Areva JV in the north will open up that region. The south-west is accessible and has good transport links. Alba merely need to raise funds to progress their work in both of their areas.

I think this is a very good long term investment at the current share price. You will be getting in at the basement level. If you are patient and prepared to wait this has a potentially very significant upside. 

Best entry point? When Alba announce funding, which, in my opinion, will happen within the next 4 – 8 weeks. I expect the share price to slowly move north in the meantime.

This is very high risk. 


A few more titbits :

 A mineral exploration company whose principle project is the Arthrath Nickel-Copper Project in Scotland which has been drill tested in the past by others and is thought to have significant potential. Encouraging results from a 173 metre deep diamond drill hole in its Limerick licence in Ireland, has led the board to seek a joint venture partner for this licence. Essentially this looks as though it might form a useful quoted shell company which Regency might spin some interests off into sometime in the future.

 Teck will spend $400,000 on exploration over a four year period to earn its stake in the assets.
Shares in micro-cap explorer Alba Mineral Resources (LON:ALBA) shot up over 20 per cent today after it sealed an exploration joint venture with Canadian mining firm Teck Resources (TSE:TCK).
Through the deal Teck has an option to acquire a 75 per cent stake in Alba’s zinc and lead exploration assets in the Limerick basin, in county Limerick, Ireland.
Teck will spend $400,000 on exploration over a four year period to earn its stake in the assets.
Initial exploration work will begin next year with ground geophysics and soil geochemistry programmes. Alba said that a diamond drilling may also be possible next year.
On AIM this morning Alba shares gained 0.115p, about 20 per cent, to trade at 0.69p a share. At the current market price the company is worth £600,000.
Ireland hosts Europe’s largest zinc mine, the Tara mine which is operated by Swedish firm Boliden. Approximately 2.6 million tonnes of zinc and lead concentrate is produced at the Tara mine each year. The mine is located near Navan, county Meath.
There is notable interest in zinc projects in Limerick at the moment and Teck is already developing the nearby Stonepark project alongside Connemara Mining (LON:CON).
Additionally Xstrata is also developing a mine in Limerick. Earlier this year the FTSE100 constituent bought out its AIM-listed joint venture partner Minco (LON:MIO) to take full control of the Pallas Green project.
The deal in July saw Minco sell its 23.6 per cent stake in the project for US$19.4 million.

   All considered ,our links with RGM / RRR , are due to go solar powered .

     gla concerned
Profit with patience ,

     19/07/14 . Yes , I have left this one behind why . I am not happy holding onto oil drillers . Despite being in the UK .
Good luck all that decide otherwise .
             And May

24-10-14     Good news I`m back

The gross oil bearing upper Portland Sandstone interval in Horse Hill-1 measures 102 feet, has an average porosity of over 16% and average oil saturation is estimated as 36%. Based on regional and local trends, confirmed by wells at Brockham, these reservoir parameters indicate a high likelihood of production at commercial rates. The equivalent interval in the Collendean Farm-1 well, drilled by Esso in 1964, shows similar reservoir characteristics over a 97 foot gross interval. The gross oil column contained within the Horse Hill-Collendean Farm structure is in excess of 140 feet.

So , we have drilled the right side of the dip , as explained earlier.
I can just feel that gas a rumbling .

30-10-14   Buy Of Minor Interest
The newly granted Weald Basin contains two shale formations, with one being similar to the Barnett Shale, believed to be the largest onshore natural gas field in the United States. According to Eurenergy advisor Gene E. Phillips, “I am very happy to see our company awarded these leases in Europe. Eurenergy will be the first in the Weald Basin to test the source rock itself for gas using the horizontal drilling technique.” “Horizontal drilling allows us to drill a well to the targeted deposit without harming the environment above. Not only does this technique minimize the impact on the area’s nature and wildlife, it also significantly reduces methane emissions released into the atmosphere,” added David Morgan, managing director of Eurenergy Resource’s US and international operations.

Good luck all


 A masterstroke achieved by buying out Regency for so little and just in time to announce such a large estimated find .
With 10% of the Horse Hill , one can now see a large rise up to above the IPO price , many moons on .
 Real value of ALBA ?
     Working through the wytch farm figures one could see above 6p , within the year , dependant on news flow .
 Do not expect a straght line upwards , the target is very achievable . One hopes raising new funds for Mauretania will be the order of the day . I will be keeping a close eye on the old uranium business .
  It reminds very closely of MOG and TXO , therefore we are MOG which is a great sign for the future upswing momentum to continue .

       And May



Interesting day for the UK oilers . today`s reaction is not overdone as the results so far inconclusive , although it seems to me they have done exactly as the RNS`s have prescribed thus far .
Therefore gas at the bottom expected in large quantity .
History ;
The Weald Basin is one of two productive basins in southern England , with oil and some gas production
from Jurassic and Triassic reservoirs. It lies to the northeast of the Wessex-Channel Basin and has oil field production
from Brockham, Goodworth, Horndean, Humbly Grove, Palmers Wood, Singleton, Stockbridge and Storrington, and
gas production from Albury.

To date (February 2014), 117 exploration, 31 appraisal wells and 100 development wells have been
drilled in the Weald area, and of these, 26 wells are classed as discoveries or had hydrocarbon
indications (Table 4). Thirteen fields are currently in production, plus the historical oddity of
Heathfield gas lighting the local rail station. Over the 24 years when exploration was most active
(1980-2003), there were 72 exploration wells drilled and 18 discoveries made, 12 of which are now
in production, so a 25% technical success ratio. Onshore exploration is significantly cheaper than
offshore, and although this rate of success is comparable to the UKCS, the size of the discoveries is
considerably smaller.
A creaming curve for the Weald Basin (Figure 7) does not exhibit the flattening-off characteristic of
a mature basin. There has been little exploration drilling in recent years. Indeed, since 2004, only six
appraisal wells have been drilled, along with 31 development wells. However, wells to test new play
ideas with significant upside resource potential are now planned.


In the United Kingdom, Key has completed a sale of its subsidiaries Key Petroleum UK and Key Petroleum Weald Basin – which owns and operates the two small oilfields, Lidsey and Brockham, in the Weald Basin – to Angus Energy Weald Basin No.1 for £100,000 in cash. 


UK Oil & Gas Investments PLC owns a 20% stake in the vehicle, with Doriemus PLC, Stellar Resources PLC and Solo Oil PLC each holding 10% stakes and Regency Mines PLC and Alba Mineral Resources PLC each owning 5% stakes. Angus Energy Ltd, a company in which UK Oil & Gas Investments has a 6% stake, holds the remaining 40% of Horse Hill Developments.
All of the companies were trading down Friday morning. UK Oil and Gas shares were down 26% to 1.16 pence per share whilst Alba shares dropped 20% to 0.918 pence per share. Doriemus shares were down 16% to 0.190 pence per share and Stellar were also down 16% to 0.895 pence per share. Solo Oil shares were down 7.8% to 1.00 pence per share and Regency Mines were down 8.1% to 0.400 pence per share Friday morning.
All of the companies released separate statements regarding the discovery.
The oil was discovered at depth of 1,791 feet true vertical depth and a preliminary estimate suggests there is 3.1 million barrels with the possibility of a further 16.8 million barrels of oil in a separate sand lower down in the Portland basin, yet this has not been tested yet. Further analysis is underway to establish the recoverable volume of oil that has been discovered, the companies said.
"The presence of a larger, unappraised, Portland feature creates considerable further upside," said UK Oil and Gas, Solo Oil and Stellar Resources Chairman David Lenigas.
On October 16, the project discovered oil shows in cuttings and elevated gas readings in the Portland Sandstone which the Horse-Hill-1 is drilling. These indications have now been confirmed.
The well is now being drilled deeper as the project continues to aim for a Triassic formation believed to have potential gas reserves. The project expects to reach the formation within the next two weeks, said the companies in a separate statements.
"We are now looking forward to drilling the Triassic, which is a new and untested exploration target in the area and which, if successful, may contain appreciable volumes of gas," said the chairman of Doriemus and Stellar, Donald Strang.
By Joshua Warner;; @JoshAlliance

Good luck all whom have invested here .


Statement from Cuadrilla Resources about Shallow Gas in West Sussex
When Cuadrilla drills its water monitoring well and the main exploration well, we expect to
encounter gas bearing ground water at approximately 170 ft below the surface. The occurrence of
these gases in the shallow ground water predates any oil and gas exploration at Balcombe and is
consistent with a regional pattern of shallow gas (Figure 1). Because of the composition of the
gases, they are most likely derived from deeper strata.
The presence of pre-existing thermogenic gas within the Ashdown Beds, a low productivity aquifer,
at this well location was indicated by the first well drilled in Balcombe in 1986 by Conoco. The well
encountered natural gas in the Ashdown Sandstone at a depth of about 170 ft below the ground
surface. At this point the well flowed 150 barrels of formation water which contained natural gas.
The associated gas shows included quantities of Methane and Ethane (Precisely 54,910 ppm CH4
(Methane) and 1,335ppm C2 H6 (Ethane)) (Conoco, 1987, p 2.2). There were also quantities of minor
gas seen in the overlying Wadhurst Clay. The well record for the first Balcombe well over this depth
interval is shown in Figure 2. During the drilling, testing, and abandonment process of the water
monitoring well and the main exploration well the gas bearing groundwater will be contained below
ground so there will only be trace emissions and no impact on water quality.
It is not unusual to find natural gas at shallow depths in West Sussex. Another Conoco well at
Southwater-1, drilled in 1986, also encountered natural gas in the Ashdown Sandstone at a depth of
1200 ft (560ppm CH4 and 10ppm C2H6) (Conoco 1986).
The largest known natural gas accumulation in the Weald was made in the Bolney-1 well, 3.7 miles
south of the Balcombe site. This well was drilled by ESSO in 1963 and encountered the Ashdown
Sandstones between 432 and 470ft MD. These sandstones were found to be gas-bearing between
435-448ft MD and produced 650 thousand cubic feet of gas per day (Esso, 1963). These
observations are consistent with other records of shallow natural gas in the area. The earliest
reports of onshore hydrocarbons in southern England come from the Sussex area. A shallow water
well at the Heathfield railway station that reached Kimmeridge strata encountered gas (Hawkes et
al. 1998, Hoar and Upton, 1972, p. 25). Subsequently the well produced 1000 cubic feet/day of
natural gas and was used to light the railway station. The news of this shallow gas was even
reported in the United States (New York Times, 1902)

and a little more , for your delight

Coal seams were discovered when test boring for an early proposal for a Channel Tunnel at Dover in 1890.[10] This led to the development of four deep mines in the Kent Coalfield in the early 20th century. The inversion of the Weald Basin throughout the late Cretaceous and early Tertiary resulted in the formation of the Wealden Anticline and a number of smaller anticlines within the larger structure. The discovery in 1897 of natural gas while drilling for water at Heathfield railway station provided fuel for the first natural gas lighting in the United Kingdom.[11]The existence of the same strata within the Weald basin which are the source rocks for the Wytch Farm oilfield in Dorset led to an interest in the petroleum potential of the Wealden anticline, with exploration taking place on Ashdown forest examining the Ashdown Anticline, a large structure over 30 km long x 7 km wide, located in the centre of the Weald Basin in north Sussex; significant quantities of natural gas were found but oil was absent.[12] Oil and gas have subsequently been found at a number of sites in the Weald including Singleton and Storrington in West Sussex, Godstone and Lingfied in Surrey, and Cowden in Kent.[13][14] In 2009 remaining recoverable oil reserves in the Weald Basin were estimated at one and a half million tonnes. In 2010 the Weald Basin contributed 18% of onshore gas and less than 5% of onshore oil production in the UK.[15] As of August 2013 there was significant opposition to hydraulic fracturing developing in southeast England centred on Balcombe where an exploratory well was planned and the Balcombe drilling protestwas in progress.[16][17] The Weald Basin has yielded significant quantities of gypsum from Jurassic Purbeck beds and a number of brickworks exploit the lower Cretaceous clays.

  And May history repeat .

         Good luck

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