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2017 mine commissioning realistic for Alecto Minerals - CEO

Published: 09:16 01 Jul 2016 EDT

“If we get our financing in place before the end of September then we have every chance of commissioning by the end of second quarter next year. That’s a realistic target.” The words of Mark Jones, chief executive of Alecto Minerals PLC (LON:ALO) on the future of the proposed mine build at the Matala project in Zambia.

Financing in principle is coming from China’s Yantai Xinhai Machinery Chapman for what will be the country’s first major standalone gold mine.  Confidence the project could become a reality is shared by chairman Gerald Chapman who says it’s just a case of ‘pushing the buttons now.’ “We also have a Plan B in terms of the financing, so if Plan A lets us down we do have a Plan B, so we’re confident.”

Jones stresses there are caveats such as projected timelines. “There’s a lot of work to be done, but we’re up for it.”

Alecto Minerals boss excited by Desert Gold JV option

Mark Jones, chief executive of Alecto Minerals (LON:ALO), says the company is set to finalise its joint venture with Desert Gold (CVE:DAU) in the next couple of months. Alecto joined forces with its Toronto-listed neighbour to assess whether joint development of their respective deposits...

on 09/29/2015