23 Sep 2013 12:12
- Home
- Share Prices
- AQSE Share Prices
- Euronext
- Stock Screeners
- Share Chat
- FX
- News & RNS
- Events
- Media
- Trading Brokers
- Finance Tools
- Members
Latest Share Chat
ALO.L Share News (ALO)
ALO Share
Price
ALO Share
News
ALO Share
Chat
ALO Share
Trades
ALO
Live RNS
ALO Share
Charts
ALO Broker
Ratings
ALO Directors
Deals
ALO Financial
Diary
ALO
Fundamentals
ALO Short
Positions
ALO
Media
ALO.L Information
- There is currently no data for ALO
Watchlists are a member only feature
Login to your account
Don't have an account? Click here to register.Alecto Minerals joins up with Randgold in Mali
Mon, 08th Feb 2016 08:18
(ShareCast News) - Alecto Minerals announced a new joint venture with FTSE 100 gold giant Randgold on Monday - through its wholly-owned subsidiary Caracal Gold Mali - for the exploration and development of its Kossanto West Gold Project.It confirmed the Kobokoto Est and Koussikoto permits formed the 137 square kilometre project in western Mali.The AIM-traded gold and base metal company said the joint-venture was part of its strategy to retain exposure to its African gold portfolio, whilst minimising spend on exploration and development.On completion of the joint venture, Randgold would fund all costs up to and including the completion of a pre-feasibility study on the project, and would hold a 65% interest in the permits. Alecto would retain 35%.Once the pre-feasibility study was complete, all costs would be split between the two firms as per their participating interests.A new company would be formed as part of the venture, at which point Caracal would transfer the relevants permits to it. The joint venture partners were expected to hold 90% of the permits with the Malian government retaining 10%."We are delighted to announce this important milestone agreement with Randgold, who are the market leaders in the establishment of world-class gold projects in West Africa", said Alecto CEO Mark Jones."Utilising Randgold' expertise and financial muscle to unlock any opportunity allows us to retain exposure to the significant value we believe is available across our African gold exploration tenements, with minimal impact on our balance sheet", he added.The venture's initial work programme would include further geological work and mapping of Kossanto West, with potential follow-up pitting and trenching and reconnaissance drilling, likely to be undertaken by Randgold in the first 12 months.Kossanto East, where Alecto had previously reported positive economics from an internal scoping study, was subject to a collaboration agreement with Desert Gold and was not included in the joint venture.
More News
20 Sep 2013 14:22
11 Sep 2013 10:45
22 Aug 2013 10:02
Alecto Minerals signs deal to buy AME West Africa
Alecto Minerals has signed an agreement with African Mining & Exploration to acquire its subsidiary AME West Africa. Alecto has secured £600,000 of funding through a £250,000 placing and issue of convertible loan from AME and an Alecto cornerstone investor, Tamimi Investments and Mining Co. AME We
Read more3 Jun 2013 16:19
Alecto Minerals narrows losses, upbeat about Centamin alliance
Shares in Alecto Minerals surged on Monday after the AIM-listed multi-commodity explorer narrowed its full-year loss and hailed a 'transformational' deal with FTSE 250 gold miner Centamin. The company announced last week that it has entered into a new agreement with Centamin to look for opportuniti
Read more29 May 2013 09:58
Alecto Minerals forms strategic alliance with Centamin - UPDATE
Alecto Minerals has formed a strategic alliance with Centamin to pursue gold projects in Ethiopia. The two have entered into a non-binding heads of terms agreement for a proposed joint venture for opportunities within the Federal Democratic Republic of Ethiopia. Alecto owns gold projects Wayu Bo
Read more22 Jan 2013 13:27
Alecto Minerals delivers positive results from Wayu Boda
Alecto Minerals, an AIM-listed multi-commodity exploration and development company with projects in Ethiopia and Mauritania, has cheered its investors with news of its exploration campaign at the 945.5 sq km Wayu Boda Gold Project in central-southern Adola greenstone belt in southern Ethiopia. The
Read more6 Dec 2012 14:40
Alecto zeroes in on Ethiopian targets
Alecto Minerals said it had identified multiple targets at its Aysid Metekel gold project in Ethiopia. The firm said work on the 1,953 sq km project had culminated in the delineation of five high priority target areas for follow up work in the upcoming 2013 field season. Alecto plans to conduct fo
Read more16 Jul 2012 08:46
Resources round up: Arian, Baobab, Trans-Siberian Gold ...
Arian Silver, the Mexico focused silver company, said a dispute with the owner of a toll mill has prompted it to suspending trial milling operations at its San Jose mine in Zacatecas state. Arian says talks are underway to resolve the row but the stock was down 15% at 11:31. Baobab Resources, the m
Read more2 Mar 2012 10:25
Alecto haggles on Rift Valley purchase, shares jump
The Africa focused minerals explorer, Alecto, has negotiated a 10 percent reduction in the price it is paying for Rift Valley Resources. The price reduction took place after Alecto discovered Rift Valley needs an additional exploration licence at the Wayu Boda project in southern Ethiopia. Alecto
Read more25 Nov 2011 12:55
Alecto acquires Ethiopian gold and emerald licence
Alecto Minerals, the AIM listed resource investment company focused on Africa, has acquired Tanzanian mining company Rift Valley Resources, for an initial consideration of £409,200. The acquisition gives Alecto control of a three year exploration licence covering the 945.5 square kilometres (sq km
Read more21 Apr 2011 13:19
Alecto soars after Ghanaian expansion
Shares in mining investment firm Alecto Energy jumped a fifth higher after it signed an agreement to acquire 80% of Rancho Ghana, which holds a 191.1 sq km gold exploration licence in the Ashanti Gold Belt, Ghana. "The acquisition of this gold and base metal licence in Ghana is a significant step f
Read more