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Alecto chief looks to formalise plan with Randgold on joint venture

Mark Jones, chief executive of Alecto Minerals (LON:ALO), speaks to Proactive on the significance of this completion of its joint venture with mining major Randgold Resources (LON:RRS).

All conditions for exploring and developing Alecto's 137 sq km Kossanto West Gold project in western Mali have now been satisfied and Randgold is to pay all fees for it’s testing and mapping up until the pre-feasibility phase, with Alecto retaining a 35% participating interest.

“Beyond the formality is the realisation that we are working with a very professional team – Randgold – who have met with us and told us exactly what they intend to do and how they want to approach things and I’m hopefully going to be getting some formalisation of that which I can then share with the market,” he said.

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