Last 0.16 GBp
Change Today -0.01 / -5.88%
Volume 933.6K
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As of 11:30 AM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

alecto minerals plc (ALO) Snapshot

0.17 GBp
Previous Close
0.17 GBp
Day High
0.17 GBp
Day Low
0.16 GBp
52 Week High
03/6/14 - 1.65 GBp
52 Week Low
02/18/15 - 0.13 GBp
Market Cap
Average Volume 10 Days
-0.0031 GBp
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Dividend Yield
Current Stock Chart for ALECTO MINERALS PLC (ALO)

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alecto minerals plc (ALO) Details

Alecto Minerals plc, together with its subsidiaries, explores for and develops precious and base metals in the United Kingdom, Mauritania, Ethiopia, and Mali. It holds interests in the Kossanto gold project that consists of 4 contiguous licences covering 207 square kilometers located in the centre of the Kenieba inlier in western Mali; Kerboulé gold project that covers 399.5 square kilometers located in northern Burkina Faso; the Karan gold project covering 250 square kilometers located in southern Mali; the Wad Amour project, which covers 1,369 square kilometers in Mauritania; Wayu Boda project that covers 945 square kilometers located in south-west Ethiopia; and the Aysid-Metekel gold project covering an area of 1,954 square kilometers in north-west Ethiopia. The company was formerly known as Alecto Energy plc and changed its name to Alecto Minerals Plc on May 2011. Alecto Minerals Plc was incorporated in 2004 and is headquartered in London, the United Kingdom.

5 Employees
Last Reported Date: 05/29/14
Founded in 2004

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alecto minerals plc (ALO) Key Developments

Alecto Minerals plc Receives Formal 90 Days Notice from Centamin plc to Terminate the Joint Venture Agreement

Alecto Minerals plc announced that it has received formal 90 days notice from Centamin plc to terminate the joint venture agreement entered into between the company and Centamin in September 2013 with regards to the development of the company's licences in the Federal Democratic Republic of Ethiopia. Pursuant to the terms of the Joint Venture, Centamin's rights in the Wayu Boda and Aysid Metekel licences will revert to Alecto, such that Alecto will hold 100% of the Licences and will assume responsibility for the ongoing commitments in respect of the Licences on termination of the Joint Venture. The company's Board continues to believe in the prospectivity of the Licences and will actively seek a new partner for the continued exploration and advancement of the Licences. The company also looks forward to receiving all of the outstanding results obtained by Centamin from its drilling programme (including 25 diamond drills holes completed on the Wayu Boda licence), surface sampling, trenching and mapping completed across the Licences during 2014.

Alecto Seeks Partner

Alecto Minerals plc (AIM:ALO) is seeking a new partner. Alecto Board said it continues to believe in the prospectively of the licenses and will actively seek a new partner for the continued exploration and advancement of the Licenses.

Alecto Minerals plc Announces Completion of Analysis of Historic Drilling Results at Kerboulé Gold Project, Burkina Faso

Alecto Minerals plc provided an update on the 399.5 sq. km. Kerboulé Gold Project located in the highly prospective Birrimian-age Djibo gold belt in northern Burkina Faso, following the successful completion of a detailed internal analysis of historical drilling data. Highlights: Completion of detailed internal analysis of data from historical drilling at the Kerboulé Project across the two permits; Analysis has identified three discrete deposits with sufficient drilling density to estimate contained resource ounces; Numerous vein sets and orientations identified in drill core that the Board believes could add significant value to future drilling campaigns; Increased understanding of the structures and mineralisation controls. The company is on track to achieve a maiden resource estimate for the Kerboulé Project in 2015 and thereby increasing the company's existing gold inventory. The Kerboulé Project comprises two contiguous exploration permits (Arae and Gassel-Manere) in northern Burkina Faso. The permits cover a landmass of 399.5 sq. km. across the highly prospective Birrimian-age Djibo gold belt and are cross-cut by two known mineralised trends (the Inata and the Souma Trends). Historically, geochemical surveys have been completed across the permits in the form of soil, termite and auger grids, with drilling concentrated over the Kerboulé-Yalema Corridor. The company's focus, whilst also identifying further regional targets, is the KYC, which contains significant mineralisation that has already been discovered from historic drilling within the permits and which the Board believes will provide the basis of a maiden JORC-code compliant resource estimate for the Kerboulé Project in 2015.


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