Alecto Minerals has completed the acquisition of AME West Africa.Alecto Minerals, the AIM-listed African focused multi-commodity exploration and development company, acquired the company from AIM-quoted Savannah Resources. Following the completion of the acquisition, Alecto will have complementary assets in various stages of exploration in both East and West Africa, including the flagship Kossanto gold project in Mali, the Wayu Boda and Aysid Meketel exploration projects in Ethiopia, and will continue to explore the prospective Mauritanide Belt.
“Following the successful conclusion of our general meeting and the completion of this landmark acquisition, the company can now progress its attractive West African gold exploration portfolio,” says Mark Jones, Alecto’s newly appointed CEO.“We now look forward to unlocking the value evident at Kossanto through a defined exploration and development programme focused on delineating a significant upgrade in the current resource of 107,000 ounces of gold. We also look forward to working with Centamin to develop our prospective Ethiopian gold assets that are now fully funded. The recent corporate activity should allow the company to materially develop the portfolio of projects and deliver value for shareholders in the coming months.”