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Last 0.16 GBp
Change Today 0.00 / 0.00%
Volume 1.2M
ALO On Other Exchanges
Symbol
Exchange
London
Frankfurt
As of 12:30 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

alecto minerals plc (ALO) Snapshot

Open
0.16 GBp
Previous Close
0.16 GBp
Day High
0.16 GBp
Day Low
0.16 GBp
52 Week High
04/2/14 - 1.50 GBp
52 Week Low
02/18/15 - 0.13 GBp
Market Cap
1.7M
Average Volume 10 Days
2.3M
EPS TTM
-0.0031 GBp
Shares Outstanding
1.1B
EX-Date
--
P/E TM
--
Dividend
--
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

alecto minerals plc (ALO) Top Compensated Officers

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Executives, Board Directors

alecto minerals plc (ALO) Key Developments

Desert Gold Ventures Inc Signs Cooperation Agreement with Alecto Minerals to Develop the Farabantourou Gold Permit and Kossanto East Gold Project in Mali

Desert Gold Ventures Inc. announced that it has signed a cooperation agreement with Alecto Minerals and titleholder of the Alecto's Kossanto East Gold Project which neighbours Farabantourou Gold Permit with a view to jointly developing both deposits together into production. The collaboration with Alecto should enable both companies to benefit from shared knowledge, economies of scale and create shareholder value more quickly. Desert Gold has already filed an NI 43-101 compliant technical report for the Barani East deposit and it is natural that should now look at bulking up the tonnage with concomitant lower unit costs. The Agreement will allow both Desert Gold and Alecto to explore how capex can be reduced by operating together, with the ultimate goal of near term production. It has been agreed that all options should be reviewed; from the possibility of a single processing plant that processes ore from each deposit through to further corporate or project level activity. Both companies have drill intersections at other targets within the area of interest, which could each offer similar size resources and thus significantly increase the size of any joint venture project. It is important to note that within the same 10-km trucking radius, defined in Figure 1, there are further deposits with JORC or NI 43- 101 compliant mineral resource estimates completed. Alecto and Desert will continue to discuss with these companies with a view to expanding the cooperation concept and potentially open up a million ounce gold mining project. The exploration of the Farabantourou permit identified several zones of mineralisation of which the Barani East deposit became the focus for a fast track to exploitation. Geologically, the permit straddles the well-known Senegal-Mali-Shear-Zone (SMSZ) along which the Sadiola, Yatella and the Loulo-Gountoko mines are situated. The SMSZ is recognised as the principal geological feature controlling the mineralisation in West Mali. Minrealisation at BaraniEast is hosted in a fault/shear zone, proximal to the SMSZ. While the Barani East deposit is presently defined over a strike length of 400m, to a depth of 220m, the mineralisation is open ended at depth with potential for underground mining. The permit can be considered to have potential to produce additional significant resources. These were identified in the above mentioned NI 43-101 report: At Barani East there is potential to further define the resource by exploring along the strike extension of the fault, to the northeast, over a strike of approximately 3 km. At Keniegoulou the possibility of extending the target along strike to approximately 2 km exists. The first 14 lines of drilling all intersected mineralisation-a NNW trend is observed along an interpreted fault. At Dambamba it is possible to increase the overall target strike extent to 2.5 km to the south along the interpreted fault line as it is postulated. At Kousilli the current drilling in this area intersected mineralisation in only two of the four fence lines. However, if the drilling is overlain by the geochemical anomalies including the interpretation of the IP and resistivity surveys, two NE trending targets may be postulated. Kossanto East area is just one-third of the Kossanto Gold project and has been the area of most operational activity in the 2013/14 field season. The Company recently announced that it is discussions for a potential joint venture for the exploration of Kossanto West which is considered to be a potential multimillion ounce project to the west of Kossanto East. Alecto intersected high grade quartz veins in the 2014 drilling season. The Kossanto West project area is not currently included in this cooperation agreement due to its different geology and the fact that Alecto is currently in discussions with other parties. However, if a processing plant is developed at Kossanto East then ore from any resource defined at Kossanto West could be trucked to East with distances not exceeding 20-km.

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.

 

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