Alba Share Price Forecast July 2021 – Time to Buy ALBA?
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Alba Mineral Resources (LSE: ALBA) has been grabbing headlines as shares have been climbing today. This move occurred as a result of the company announcing assay results from its Clogau-St David’s Gold Mine pilot processing plant which exceeded previous results. This has sparked interest among investors about the shares of this London-listed mining company.
Alba Mineral Resources – Technical Analysis
According to the financial statement released by Alba Mineral Resources, the market cap of the company is £15.925 million and total assets worth £10.345 million. ALBA shares are currently valued at £0.2630 at the time of writing, with an uptrend of 2.70%.
Moving over to the technical side, moving averages such as Exponential Moving Average (50)(0.2711), Exponential Moving Average (200)(0.2983), and Simple Moving Average (200)(0.3653) are pointing towards selling. On the other hand, the majority of oscillators for Alba Mineral Resources such as Relative Strength Index (14)(51.3639), Stochastic %K (14, 3, 3) (65.2981), Williams Percent Range (14)(−34.875) and Ultimate Oscillator (7, 14, 28)(48.9448) are pointing towards neutral.
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Recent Developments
The company recently released reports on improved test results from its pilot processing plant in Wales. According to company statements, a total of 461 grams per metric ton of returned grades were produced by concentrates. Chairman George Frangeskides has also said that the company will continue bulk sampling activities once they complete the drilling campaign. The above results have exceeded expectations which is why the company is planning for the identification of new networked veins for bulk sampling later in the year. So far in Monday’s session, shares are up 5.88%, which is a good sign.
Should You Buy ALBA Shares?
With ALBA shares, investors must carefully notice the price of gold. After a recent fall from the $2000 level, analysts are in two minds whether gold will experience another higher run. So if you are an investor interested in gold, this is definitely a stock you wouldn’t want to miss. If indeed gold moves back to the $2000 region, ALBA shares could rise significantly.
The company is still in the early stages of business development so investors must look at how the spending of funds changes over time. It has reduced about 25% of cash losses over the past year is an indication of a certain degree of caution. Thus, investors should stay away from Alba Mineral Resources for the time being due to a lack of significant operating income.
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