Alecto Minerals (ALO.L) has announced last month it has been able to attract Randgold Resources (GOLD) as a partner for the joint exploration and development of Alecto’s Kossanto West gold project in Mali. Randgold will fund all expenses including the completion of a pre-feasibility study to earn a 65% stake in the property (which would be an effective stake of 58.5% considering the Malian government retains a 10% stake in every gold mine in the country).
Attracting Randgold is a very important thumbs up for Alecto as we can’t imagine Randgold agreeing to fund all expenses up to a pre-feasibility study on a mediocre project.
Go to Alecto’s websiteThe author has no position in Alecto Minerals or Randgold Resources. Please read the disclaimer
