Alecto zeroes in on Ethiopian targets

published 6 December 2012

Alecto Minerals said it had identified multiple targets at its Aysid Metekel gold project in Ethiopia.

The firm said work on the 1,953 sq km project had culminated in the delineation of five high priority target areas for follow up work in the upcoming 2013 field season.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Managing Director Damian Conboy said: "The Aysid-Metekel Gold Licence provides us with exposure to a highly prospective and underexplored region of Ethiopia."

"Our technical work to date has not only highlighted the mineral potential of the area but has also focussed our work programme for 2013," he added.

The company's shares were up 2.2% following the announcement.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.