Alecto reports successful explorer, developer transition

June 6, 2016

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Aim-listed Alecto Minerals on Monday said 2015 had proved to be a turning point for the group as it transitioned from an explorer to developer after acquiring the Matala and Dunrobin gold mines, in Zambia. A “clear path” to production was being established in Zambia, with the Africa-focused gold and base metal exploration and development company now boasting a Joint Ore Reserve Committee-compliant total estimated resource exceeding one-million ounces of gold, up from 247 000 oz in the prior year, a further 240 000 oz of non-Jorc gold resources and a 25-year renewable mining licence covering some 32km2.

Category: General