- Alba Mineral Resources said it would give 'serious consideration' to an offer for its stake in the Horse Hill oil project near Gatwick Airport in southern England.

The company decided to consider a sale after completing a strategic review.

The review determined that the company would focus its energies on its Clogau gold mine in northern Wales, and its Amitsoq and Thule Black Sand prospects in Greenland and Ireland, respectively.

The focus of field work for the remainder of 2019 would be on Clogau, while the focus of technical studies would be on refining products and markets at Amitsoq and Thule Black Sand.

'Alba's investment in Horse Hill remains a near-term cash-generative opportunity for the company,' it said.

'As such, Alba is open to either retaining its stake in the project through to production, when material oil sales revenues should be generated, or to giving serious consideration to any third-party offer received prior to production which properly reflects the inherent value of Alba's stake.'

Alba owns around 11.8% of Horse Hill.

At 2:52pm: [LON:ALBA] Alba Mineral Resources PLC share price was 0p at 0.18p

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