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Alecto's shares dive after dicounted £650,000 placing

Tue, 17th May 2016 15:11

(ShareCast News) - Alecto Minerals's shares plunged almost 17% after raising £0.65m in a discounted placing as it moves to bring the 400,000 tonnes-a-year Matala Gold Project, Zambia, into low-cost production in the near- to mid-term.The placing of 831.25m shares priced at 0.08p each, which would account for about 18.64% of Alecto's enlarged share capital, was fully subscribed. Alecto's shares were up almost 17% this afternoon.CEO Mark Jones said directors were extremely mindful of dilution, and that it was unfortunate there had not been greater traction in the company's share price, allowing it to raise funds at a premium to its last fundraise in November 2015.This was despite strong news flow after its acquisition of open-pit Matala, and including the announcement of joint ventures with Randgold Resources and Cora Gold, Jones said."The board is acutely aware of the importance of maintaining momentum on the ground in Zambia, to build on the excellent start we have already made. There is potentially still huge upside for stakeholders if we get this right," he said in a statement."With this in mind, we will continue to focus and deliver on our strategy, which I believe will translate into share price appreciation moving forward."
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17 Jan 2014 13:22

UK MIDDAY BRIEFING: Royal Dutch Shell Shocks With Profit Warning

LONDON (Alliance News) - Oil giant Royal Dutch Shell shocked the market Friday by warning that its profits will be well below expectations after nearly every part of its business performed below its expectations in the fourth quarter.

The profit warning has sent its

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17 Jan 2014 12:10

Alecto Minerals raises funds for Kossanto Gold Project

Alecto Minerals, an AIM-listed explorer focused on Africa, placed one million shares at 1.5p each to raise funds for the development it its flagship Kossanto Gold Project in Western Mali. The placing raised £1.5m before expenses, part of which will be used for general working capital purposes. At

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17 Jan 2014 10:55

UK WINNERS & LOSERS: Shell And William Hill Lead FTSE 100 Fallers

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday.

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FTSE 100 - WINNERS

Aviva, up 1.5%. The insurer has revealed that it has entered into a 50-50

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17 Jan 2014 09:22

Alecto Minerals Raises Another GBP1.5 Million To Fund Kossanto Work

LONDON (Alliance News) - Alecto Minerals PLC Friday said it had raised GBP1.5 million before expenses through a placing of 100 million new shares to fund the advancement of its main Kossanto Gold Project in Western Mali. In a statement, the AIM-listed mine exploration company said drilling

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17 Jan 2014 08:13

UK MORNING BRIEFING: Shares Open Higher Despite Shell Warning

LONDON (Alliance News) - UK shares have opened higher Friday despite negative news from two FTSE 100 companies, Royal Dutch Shell and Shire.

The oil major issued a profit warning, and the pharmaceutical firm said it will book a loss on the sale of

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25 Nov 2013 11:06

Alecto Minerals Preparing Exploratory Drilling Campaign At Kossanto

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25 Nov 2013 07:59

AIM IN BRIEF: UBC Media Confirms Agreement To Acquire 7digital

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14 Nov 2013 16:20

Alecto Finds New Gold Bearing Area At Kossanto Gold Project In Mali

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7 Nov 2013 12:14

UK WINNERS & LOSERS: Halfords Goes The Extra Mile, Inmarsat Slips

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7 Nov 2013 10:43

Alecto Raises Cash And Enters Equity Swap Agreement, Shares Fall 13%

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8 Oct 2013 08:13

Alecto Find High Grade Mineralisation At Kossanto Gold Project

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4 Oct 2013 15:36

Alecto Minerals completes acquisition of AME West Africa

Shares in Alecto Minerals rose after the African focused miner said it completed the acquisition of AME West Africa from Savannah Resources. Alecto will gain assets in East and West Africa including three gold projects in Mali such as the Koosanto project which has a current inferred resource of 10

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3 Oct 2013 11:39

UK WINNERS & LOSERS: Phorm Jumps; Supermarkets Rebound

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2 Oct 2013 14:33

Alecto Minerals Appoints African Mining's Jones As New Chief Executive

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23 Sep 2013 12:39

Alecto Minerals Signs Lock-In Agreement With Electrum For Mali Mine

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