CRA Cradle Arc

TIDMALO

RNS Number : 2601V

Alecto Minerals PLC

14 April 2016

Alecto Minerals plc / EPIC: ALO / Market: AIM / Sector: Mining

14 April 2016

Alecto Minerals plc ('Alecto' or the 'Company')

Exercise of Warrants and Issue of Equity

Alecto Minerals plc (AIM: ALO), the Africa-focused gold and base metal exploration and development Company, has issued 38,750,000 new ordinary shares of GBP0.0001 each ('Ordinary Shares') as a result of an exercise of 38,750,000 warrants exercisable at 0.08 pence each (the 'Warrant Shares').

Application will be made for the Warrant Shares, which will rank pari passu with the existing Ordinary Shares in the Company, to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective and dealings will commence at 8:00 a.m. on 20 April 2016.

Following the issue of the Warrant Shares, the issued share capital of the Company will consist of 3,628,564,850 Ordinary Shares. No shares were held in treasury at the date of this announcement. The total current voting rights in the Company are therefore 3,628,564,850.

**ENDS**

For further information please visit www.alectominerals.com, follow us on Twitter @AlectoMinerals, or contact:

 
 Alecto Minerals plc           Tel: +44 (0)20 7499 5881 
  Mark Jones 
 Strand Hanson Limited         Tel: +44 (0)20 7409 3494 
  Andrew Emmot 
  Matthew Chandler 
  James Dance 
 Beaufort Securities Limited   Tel: +44 (0)20 7382 8300 
  Jon Belliss 
 St Brides Partners Limited    Tel: +44 (0)20 7236 1177 
  Elisabeth Cowell 
  Charlotte Heap 
 

Notes to editors:

Alecto Minerals plc is an African focussed, gold and base metal exploration and development company quoted on AIM with gold exploration projects in Zambia, Mali, Burkina Faso and Mauritania.

In Zambia, the historic Matala and Dunrobin gold mines have, in aggregate, a 760,000 oz Au JORC Code compliant resource estimate in the Measured, Indicated and Inferred categories at an average grade of 2.3g/t Au. The Company is focused on seeking to bring Matala into low-cost production in the near to mid-term.

In Mali, the Kossanto East project has an inferred JORC Code compliant resource estimate of 6.72Mt grading at 1.14g/t Au for an aggregate of 247,000 oz Au with a cut-off grade of 0.5g/t Au. This is under a co-operation agreement with ASX listed Desert Gold Inc. to evaluate the potential to jointly develop each company's neighbouring projects into production. The Kossanto West Project is under a joint venture with Randgold Resources Limited.

Alecto also owns the Kerboulé Project, located in the highly prospective Birrimian-age Djibo gold belt in northern Burkina Faso, as well as the wholly owned Wad Amour IOCG Project in Mauritania which is at an exploration stage.

Accordingly, the Company has a strong, diversified project portfolio with exciting exploration upside potential.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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