By Robert Tyerman | Thursday 30 April 2015
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Africa-focused AIM dog Alecto Minerals (ALO) says new estimates of resources at its Kerboule gold project in Burkina Faso could add 230,758 oz. to the company’s existing inferred resource estimate of 247,000 oz. at Kossanto in East Mali for a combined low-grade resource of 477,748 oz. The new estimates, by independent consultant Wardell Armstrong but not yet fully compliant with the formal Joint Ore Reserve Committee (JORC) industry code, suggest Kerboule’s gold occurs at 1.16 grammes of gold per tonne of ore, compared with Kossanto’s 1.14 grammes a tonne, though it notes that Kerboule’s mineralisation starts at the surface, with 70% inside the relatively accessible oxide and transitional layers.
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