Gold miner Alba's shares surge on progress at north Wales project

(Sharecast News) - The share price of Alba Mineral Resources jumped by a tenth on Thursday ahead of the next phase of underground blasting at the main gold target at its Clogau-St David's Gold Mine in north Wales. The company said that, due to the availability of its principal blasting contractor, blasting at the main Llechfraith Target will start in late-July.

"The company continues to make the detailed preparations for the blasting programme in preparation for the scheduled start date, including implementing modifications in order to achieve greater penetration and faster progression through the blasting sequences," Alba said.

Processing of the remaining ore stockpile is ongoing, with around 4 kg of concentrate currently at, or in transit to, the refiner for refining.

Meanwhile, Alba announced that it will be producing a limited series of 18 carat pendants from gold extracted from Clogau-St David's. They will be offered at a set price rather than at auction, with Alba shareholders able to access the sale before they go on wider sale.

Shares were up 10.7% at 0.025p by 0900 BST.