UK 07:47 Thursday, 24 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
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) is understood to have a new acquisition on the continent ‘in the pipeline’ following its agreements to pool resources in Mali with Canadian outfit Desert Gold Ventures and to sell its Ethiopian interests to local concern Wame Mineral Development. Alecto, which is receiving a nominal £1 each from Wame for Nubian Gold Exploration and Rift Valley Resources plus potential eventual royalties of up to $1 million (£667,500) each should they establish formal gold resources, hopes the takeover it has in mind will provide a route to near-term production, which might come as a relief to investors, who have seen the shares fall 93% since the company was floated on AIM at 2p nine years ago to 0.13p today.
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