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As of 11:02 AM 11/27/15 All times are local (Market data is delayed by at least 15 minutes).

alecto minerals plc (OKV7) Snapshot

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11/28/14 - €0.0090
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alecto minerals plc (OKV7) Details

Alecto Minerals plc, together with its subsidiaries, explores for and develops gold and base metal properties in West and East Africa. The company explores for iron oxide, copper, and gold. It primarily holds a 100% interest in the Kossanto gold project that consists of four contiguous licenses covering 207 square kilometers located in the center of the Kenieba inlier in western Mali. The company also holds interests in projects located in northern Burkina Faso, southern Mali, Mauritania, Adola Greenstone Belt in Ethiopia, and 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.

21 Employees
Last Reported Date: 05/12/15
Founded in 2004

alecto minerals plc (OKV7) Top Compensated Officers

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alecto minerals plc (OKV7) Key Developments

Alecto Minerals plc Announces Acquisition of Gold Mines in Zambia; Announces Board Appointments

Alecto Minerals plc announced that it has made a significant step in pursuit of its strategy of becoming a gold producer in the near to mid-term through the acquisition of the historic Matala and Dunrobin Gold Mines in Zambia. The Project has excellent potential to be developed into production in the near to mid-term - 25 year renewable mining licence covering 32km2, associated environmental permit and advanced resources Matala and Dunrobin Gold Mines, have, in aggregate, a 760,000 oz Au JORC Code compliant resource estimate in the Measured, Indicated and Inferred categories at an average grade of 2.3g/t Au USD 20 million invested in drilling and test work on the Project to date, culminating in a scoping study on the Matala deposit and a feasibility study on the Dunrobin deposit prepared by Coffey Mining Pty Ltd. in 2013 The company has acquired the Project for an aggregate consideration of GBP 1.54 million The Project will be the company's key operational priority, although it will continue to pursue the development of Kossanto East, its proposed JV project with Desert Gold in Mali, and to seek to secure partnership opportunities for its broader portfolio. The company also announced the appointment of Clint White, Country Manager. On completion, Gerald Chapman will join the Board as Non-Executive Chairman, bringing over 30 years' experience in the mining sector, with specific skills in contract mining and infrastructure build.

Alecto Minerals plc Announces Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2015

Alecto Minerals plc announced unaudited consolidated earnings results for the six months ended June 30, 2015. For the year, the company reported revenue from continuing operations of GBP 44,663,000. Operating loss was GBP 264,323,000 against GBP 418,456,000 a year ago. Loss before taxation was GBP 264,320,000 against GBP 437,228,000 a year ago. Loss for the period from continuing operations attributable to equity owners of the parent was GBP 264,320,000 against GBP 437,228,000 a year ago. Basic and diluted loss per share from continuing operations attributable to the equity owners of the parent was 0.026 pence against 0.057 pence a year ago. Net cash used in operations was GBP 216,165,000 against GBP 307,293,000 a year ago. Purchase of intangible assets was GBP 158,973,000 against GBP 1,103,241,000 a year ago.

Alecto Minerals Seeks Acquisitions

Alecto Minerals plc (AIM:ALO) continues to evaluate a number of potential acquisition targets. The Company continues to seek to deliver value through the progression of its more advanced assets, namely the Kossanto East and Kossanto West Gold Projects in Mali and the Kerboulé Gold Project in Burkina Faso.


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