UK 08:25 Thursday, 24 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
If it is not it is close. Alecto Minerals (ALO) shares in which are expected to resume trading on AIM has announced that it has secured a £800,000 loan repayable in six months for £800,000. But look at the terms. They are outrageous.
I really don't take any notice at all of most (no make that nearly all) resaerch from Beaufort Securities but its mining analyst Sheldon Modeland is a sensible fellow and thus I bring you his latest note on Alecto Minerals (ALO).
John Meyer of SP Angel this morning comments on Diamondcorp (DCP), Alecto Minerals (ALO) and today's interest rate decision by the US Federal Reserve as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond
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. However Alecto notes that Kerboule’s mineralisation starts at the surface, with 70% inside the relatively accessible oxide and transitional layers.
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.
Yesterday, shares in Alecto Minerals (ALO) jumped by 55%, on the second highest volume ever recorded for the stock. 46.8million shares changed hands, over twenty nine times the 30-Day Moving Average (30MA) for volume. This morning, Alecto announced a deeply discounted placement, at 0.1p (an all time low), to raise £300,000. Beaufort Securities is Alecto’s broker and Jon Belliss is the named contact. Of course, it must be entirely coincidental that the trade in Alecto’s stock went bonkers the day before the company announced its fundraising.
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.
Mark Jones, chief executive officer of AIM dog Alecto Minerals (ALO), says the company is talking to present and prospective investors about funding a pre-feasibility study on its flagship 247,000-oz. Kossanto East gold project in the West African state of Mali now it has agreed to join forces with Canadian explorer Desert Gold Ventures to develop both companies’ projects in the area. With its shares down 90% in a lacklustre gold market to a barely visible 0.19p since floating on AIM in 2006, Jones warns ’it is unlikely Alecto could survive in the exploration space and so we have got to transform ourselves -- and that means going down the development path’ rather than expensively adding more ounces to potential resources.
