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Alecto ‘on track’in Burkina Faso

By Robert Tyerman | Thursday 8 January 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 Alecto Minerals (ALO) says it is ‘on track’ to establish a maiden resource estimate this year for the Kerboule gold prospect in West Africa’s Djibo gold belt in northern Burkina Faso, while the AIM-quoted company actively canvasses prospective partners for its Kossanto project in Mali, potentially hosting more than 500,000 oz. of gold. Alecto, which also has joint ventures with fully-listed Centamin (CEY) at two gold prospects in Ethiopia, acquired Kerboule in November in a £350,000 all-share deal and now says analysis of previous drilling data over the 3,995-sq.-km. project has identified three discrete deposits with ‘numerous vein sets’.


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