Alecto (LON:ALO) – Cancellation of Yorkville facility and issue of 2.8m new shares to consultant • Alecto Minerals have cancelled their equity drawdown facility with Yorkville. Yorkville Hold some 33.9m shares representing some 3.8% of the company. • Separately Alecto are also issuing 2.8m new shares to an unnamed consultant. It might be useful if the consultant was named? • Conclusion: investors will be pleased to see yet another Yorkville equity drawdown facility consigned to history.
Have ALO advised resumption of drilling in Nov as previously expected = NO Have ALO got funds to drill and advance the existing exploration in Mali = YES
So what's stopping them?
But then consider this:
Have CEY released the drill updates which were expected 'around the end of July' = NO Have CEY advised resumption of drilling in Ethiopia in the drilling season = NO Have CEY got funds to drill and advance the existing exploration in Ethiopia = YES
For me it's too much of a coincidence that there is no news on either development when there's no shortage of cash on either front.
However, one might have been forgiven for thinking in Nov that ALO had shut up shop for some reason. But then the Kerboule Bukina Faso RNS acquisition came out of no where.
So ALO, and clearly CEY, are active outside of Mail and Ethiopia respectively so why no news? Unless..... something is going on between them that concerns both developments.
Its all very cloak and dagger ? Surprised no one has had any word, even if they got back to say things are progressing but not allowed to reveal in a mail. Its very strange and not very comforting. I guess GS has said it all, we sit and wait!
Well, I've not received a response to my email from the company. One has to believe that the company is in talks at the moment regarding a further JV or similar as I'd struggle to believe they are that complacent towards its shareholders otherwise. I wonder if HJ has received a response to his communication last week?
convinced by the outlook for ALO as evidenced by these trades. I am perplexed as to the exact ongoings at the moment as MJ stated the drilling season was to begin in November. Usually, an RNS is released to detail the secured funding prior to drilling. We are waiting.....
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