Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Shares of Alba Mineral Resources (LON: ALBA) are trading higher after the company said it has completed the disposal of its 5% interest in the Brockham Oil Field to the Operator, Angus Energy.
The total consideration, which includes payments related to certain back costs and a contribution toward eventual abandonment costs, has seen Alba pay Angus £32,000 plus VAT. £6,400 was paid in cash, with £32,000 paid via the issue of 12.4 million shares in Alba.
The shares were valued at the 10-day VWAP of 0.2579p per share.
“The Alba Board is pleased to have completed this disposal, which is part of Alba's drive to rationalise its non-core assets,” stated the company.
Alba Mineral Resources share price is currently trading at 0.26p, up 7.44%. In 2021, it is down 55%.
Alba Mineral Resources shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Alba Mineral shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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