From the top man12 May 2017 08:47
Mark Jones, CEO of Alecto, commented, "Mowana is now a full-time copper production operation and we look forward to gaining ownership of the Project subject to shareholder approval at which point, we believe, our company will benefit from a significant value re-rating. Once effected, we will have taken control of a significant asset which has been subject to more than US$150 million of investment in the past for an acquisition price of approximately US$10 million.
"We are delighted that the CPR demonstrates the compelling economics of our project even without the installation of a DMS, now that the asset is unencumbered by debt. Even better is that it starts to show the tremendous potential upside available using modern techniques identified by our experienced industry partners. As shareholders can see from our video, there is a hive of activity on site, and having already delivered on our stated operation objective, we look forward to providing further updates in the coming weeks."