To further develop the 247 00 oz Mali-based Kossanto East gold project, owner Alecto Minerals has signed a nonbinding letter of intent (LoI) with TSX-V-listed Ashanti Gold. The Canadian exploration and development company now has the right to earn a 65% stake in the project by completing a preliminary feasibility study (PFS) within 36 months. Should Ashanti not complete the PFS within the allocated time, it may instead elect to pay $4-million to Alecto within 90 days.
