- Alba Mineral Resources reported a deeper annual loss as it continued to develop its mining and energy resources in the UK and Ireland.

Pre-tax losses for the year through November amounted to £1.31m, compared to losses of £0.08m on-year.

'The past 12 months have been challenging ones for Alba,' the company said.

'The markets have been capricious, and lately of course we have seen some of the biggest UK stock market falls in decades.'

Alba said the Covid-19 pandemic and government moves to contain it would have an inevitable impact upon its planned work activities.

'We firmly believe that the strategy we have implemented at Alba over the past five or six years, during which time we have identified and then moved to secure majority stakes in a range of undervalued assets with real production potential, has been the right one to pursue,' the company said.

'With the current turmoil in the investment markets, our strategy may take a little longer to execute, however we remain confident that it will ultimately bear fruit for Alba and its shareholders.'

At 1:49pm: [LON:ALBA] Alba Mineral Resources PLC share price was 0p at 0.06p

Story provided by