My pal Mike Nott was detailed elsewhere so stepping up to the plate for Alba Minerals (ALBA) was George Frangeskides as you can see in the video below.
And in today's most useless shuffling of worthless assets as an excuse for a disguised placing we revisit Gold Mines of Wales, the owner of the Dolgellau gold prospect in the heart of sheep shagging country.
Alba Minerals (ALBA) is a company I covered previously as a speculative buy, but its now time to cash in 100% or so profit!
For those not familiar with the City of Inspector Morse. Oxford is known as the City of lost causes. Wadham College is within the university a bastion of the left and has always been active in promoting lefty causes and a Wadhamite, which conveniently ryhmes with sodomite, is someone who attends this loathsome institution and thus knows all about lost causes. That brings me to Alba Minerals (ALBA) - a reader posting as Wadhamite posts on this website:
I am beginning to think that I am surrounded by lunatics. I fear a dawn raid on the ShareProphets editorial team by the men in white coats at any stage. Old Malcolm Stacey believes in the money tree, Zak Mir believes in charting, Ben Turney believes in Gulf Keystone (GKP) but worst of the lot, Gary Newman, has today tipped shares in Alba Minerals (ALBA) at 0.23p to buy. Saints preserve me.
I have been, and continue to be, negative on the ‘Gatwick gusher’, otherwise known as the Horse Hill licence area. I just find it very hard to take any of the figures seriously when the companies involved talk about circa 11 billion barrels of oil in place (as per the most recent Schlumberger report), especially when viewed in the context of what they are ever likely to extract, or the sort of flows that you’d expect from shallow, tight limestones and shales.
Featuring shares in Alba Mineral Resources (ALBA), Armadale Capital (ACP), Noricum Gold (NMG), Oxus Gold (NMG), Physiomics (PYC), SolGold (SOLG), together with some share price targets.
I wonder how long it will be before that annual ritual occurs when the Daily Mail discovers a CofE vicar who has foolishly told the kiddies that Santa does not exist. The poor chap gets pilloried for a week or so before even the Mail accepts that he cannot be burned at the stake for telling the truth. I have felt a bit like the poor Rev when pointing out that whatever Steve Sanderson of UK Oil & Gas (UKOG) says on camera – and then denies he ever said – there is NOT 100 billion barrels of oil at Horse Hill. Maybe the tide is now turning.
Shareholders in Alba Mineral Resources (ALBA) should have the odd question or two for their board, after this morning’s announcement of three purchases. For £365,000 cash, £523,371 worth of shares (based on last night’s close) and 45,909,726 warrants at 0.5p, Alba is going to up its stake in Horse Hill developments by 5%, buy an option to buy a further 5% and buy a separate option to farm into 5% of the production licence of the Brockham Oil Field. For good measure, this last option, if exercised means Alba will have to fund 10% of the Brockham well cost.
I watched the trade in Alba Mineral Resources (ALBA) last Thursday and Friday in a state of bemused bewilderment. For the life of me, I just could not understand what was encouraging buyers to push this company’s stock price higher. Thursday’s announcement of Alba’s acquisition of Regency Mines’ (RGM) stake in Horse Hill gave a crystal clear warning that the company would place at 0.25p, to help pay for this transaction. Today Alba did precisely this. What on earth possessed people to buy shares at 0.4p and above is a mystery to me, but it does suggest one thing. There will be buyers for the next Horse Hill ramp.
