ALO.L Share News (ALO)

Alecto Minerals advanced after the miner announced the acquisition of Malian gold projects from Savanah Resource. The mineral explorer, which is focused on West and East Africa, said it has expanded its portfolio including its flagship Kossanto Gold project through the acquisition of all of the issued share capital of NewMines Holdings. NewMines controls the prospective 250 sq km Karan gold project and the 16 sq km Diatissan gold project in western Mali.Chief Executive Mark Jones said: "In light of Mali having put its recent political challenges behind it, interest in Malian gold assets is now growing and joint venture opportunities on greenfield projects are improving. Accordingly, we look forward to advancing both projects in tandem with Kossanto to best deliver long-term shareholder value."Shares increased 4.35% to 1.20p at 11:09 on Friday.RD