Alecto Minerals Plc
Mining & Metals - London, England, United Kingdom
Alecto Minerals Plc Employees
Alecto Minerals Plc Details
Alecto Minerals plc is an African focussed exploration company listed on AIM with assets in East and West Africa. Alecto's development model creates opportunity to advance stakeholder value through direct investment and Joint Ventures in exploration projects that, whilst early stage, all have the potential to be developed into production.Mali: The Kossanto Gold Project in Mali is the Company's major direct investment focus at present. The JORC compliant resource estimate has increased by 133% since Alecto acquired it. With significant upside potential evident across the tenure, the Board plans to build on its current gold resource of 247,000 ounces @ 1.14g/t.Ethiopia: Alecto's two large exploration properties in Ethiopia are managed through a JV with Centamin plc and give exposure to the high potential of the assets with no capital expenditure. Drilling has been completed at the Company's Wayu Boda Project and assays are pending. Mauritania: Alecto's IOCG Project in Mauritania, which is drill ready, provides the opportunity for exposure to copper as well as gold. The Company will focus on pursuing a Joint Venture partner for the project. This combination of assets and development models, provides Alecto with a strong diversified portfolio with exciting upside potential. The Company has a robust cash position to manage any direct investment and its highly experienced management team with in-house technical capabilities provide a robust platform to look at further opportunities in line with its strategy to be a gold producer.Alecto also has a joint venture with Centamin plc over two prospective gold exploration licences in Ethiopia which sees Alecto retain exposure to the assets with no capital expenditure, as well as the wholly owned Wad Amour IOCG Project in Mauritania which is at exploration status. Combined, these projects provide the Company with a strong, diversified portfolio with exciting exploration upside potential.
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