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Alba Mineral Resources to focus on Clogau gold project for rest of 2019

Alba Mineral Resources PLC said Aug. 21 that is preparing for an underground exploration program at its Clogau gold project in the U.K., which will be the focus of the company's activities for the rest of 2019.

The company is also open to external investments for its assets in Greenland, namely Amitsoq, the Thule Black Sands, Inglefield and Melville Bay, as it aims to de-risk one or more of these projects while maintaining a material stake in the upside.

Meanwhile, the company said its investment in the Horse Hill oil and gas project, where it holds an 11.8% stake, remains a near-term cash-generative opportunity. Alba Minerals is open to either retaining its stake or giving serious consideration to any third-party offer received prior to production that properly reflects the inherent value of the company's stake.