21 Jun 2013 07:00
Alecto Minerals plc / EPIC: ALO / Market: AIM / Sector: Exploration & Development
21 June 2013
Alecto Minerals plc ('Alecto' or 'the Company')
Directorate Changes
Alecto Minerals plc, an AIM listed multi-commodity exploration and development company with projects in Ethiopia and Mauritania, announces that CEO Damian Conboy is stepping down from the Board with immediate effect to pursue his other interests. The Board would like to thank Damian for his stewardship of the Company and wishes him well for the future.
Alecto Chairman Professor Mike Johnson said, "I'd like take this opportunity to thank Damian for his efforts in building a portfolio of highly prospective exploration assets. He has been instrumental in advancing them, as well as securing partners and strategic alliances including an agreement with Centamin to potentially develop a joint venture for our Ethiopian portfolio. I believe he has given the company a strong foundation for growth and I look forward to advancing our projects and creating shareholder value."
**ENDS**
For further information, please visitwww.alectominerals.com or contact:
Damian Conboy | Alecto Minerals plc | Tel: 020 3137 8862 |
Jonathan Evans | Fox-Davies Capital Ltd | Tel: 020 3463 5000 |
Jon Belliss | Xcap Securities plc | Tel: 020 7101 7070 |
Elisabeth Cowell | St Brides Media & Finance Ltd | Tel: 020 7236 1177 |
Notes:
Alecto Minerals plc is an AIM listed exploration company focussed on Africa with a diverse portfolio of exploration assets in Mauritania and Ethiopia.
In Mauritania, it has three gold and base metal development licences totalling 1,828 sq km in the highly prospective Mauritanide mobile belt and two uranium licences totalling 1,592 sq km. It also holds the 1,953 sq km gold exploration licence in the highly prospective Aysid-Metekel region of north western Ethiopia and the 945 sq km Wayu Boda gold licence in the mineral-rich Adola greenstone belt in southern Ethiopia.
The Company is committed to conducting exploratory work across its portfolio, designed to strengthen its knowledge of the assets and delineate targets for further exploration. In tandem, the Board continues to evaluate a number of synergistic assets to build shareholder value.