Issue of Equity

RNS Number : 8419V

Alba Mineral Resources PLC

18 January 2013

 



 

 

18 January 2013

Alba Mineral Resources plc

("Alba" or "the Company")

Mauritania Joint Venture Share Issue

Alba Mineral Resources plc (AIM: ALBA), a UK based exploration company, is pleased to announce that FOSSE Investments Limited, our joint venture partner in Mauritania, has agreed to take Ordinary Shares in Alba in satisfaction of part of the balance due by Alba to the joint venture.

Alba will satisfy £18,000 of the debt due to their joint venture partner by the issue of 4,500,000 new Ordinary Shares ("New Shares") at a price of 0.4p per share.

Application will be made for the New Shares to be admitted to trading on AIM. It is expected that admission of the New Shares will become effective on 23 January 2013.

Michael Nott, Chairman, Alba Mineral Resources commented:

"We are very pleased to cement further our relationship with FOSSE Investments, our joint venture partner in Mauritania."

Total Voting Rights

Following admission of the New Shares, the total number of issued Ordinary Shares will be 151,770,416 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. 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 notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.

Enquiries:

Alba Mineral Resources Plc                                                                  020 7495 5326

Michael Nott

Northland Capital Partners Limited (Nominated Adviser)                     020 7796 8800

Luke Cairns

Information on Alba:

Alba holds interests in Mauritania (uranium), subject to permitting and Ireland (base-metals).

Alba continues to review and discuss other opportunities for development of the Company including structured JV's and exploration projects in other countries that have been brought to us through contacts and other possible reverse opportunities that may have value enhancing potential.

 

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