Alecto Says Yet to Be Told of Mauritania Exploration License; Shares Surge

Alecto Energy Plc is yet to receive confirmation from the Mauritanian government that its application for a gold exploration license in the country has been accepted, the company said in a statement today.

On Oct. 14 Mohamed Abdellahi Ould Oudaa, the country’s mines minister, announced that the license had been awarded to a unit of Alecto.

Alecto shares rose as much a 0.88 pence, or 35 percent, to 3.38 pence, and traded at 3 pence as of 12:15 p.m. Johannesburg time. The shares gained 18 percent on Oct. 14.

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