LONDON (Alliance News) - Alecto Minerals PLC Wednesday said it has appointed Mark Jones as Chief Executive Officer with immediate effect following a general meeting of the company Wednesday.
The African-focussed multi-commodity exploration and development company said the decision was made as a result of an acquisition agreement made in August with AIM-quoted African Mining and Exploration PLC, where Jones was previously CEO, for Alecto to acquire 100% of AME's Kossanto Gold Project in Mali.
Alecto also recently announced a USD3 million joint venture with Centamin PLC for two of its key sites in Ethiopia.
"Looking ahead, Mark will be the ideal person to steward the company through its joint venture with Centamin PLC and his extensive knowledge of Kossanto and the region as a whole will be highly advantageous as we capitalise on the significant upside potential apparent both at this project, and across the rest of our portfolio," Alecto Chairman Michael Johnson said in a statement.
Following the sale of the Kossanto Gold Project, African Mining has changed from a gold mining company to a West African resources company, and effective this month changed its name to Savannah Resources PLC.
Alecto shares were up 6.0% to 1.54 pence Wednesday afternoon.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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