Alto Metals board members increase stake after buying more shares
The Sandstone Gold Project in Western Australia is the company's flagship asset.
Company
ASX:AME
Alto Metals Ltd is an advanced gold explorer that owns the Sandstone Gold Project in the east Murchison of Western Australia. The Sandstone Gold Project covers ~740km 2 of the Sandstone Greenstone Belt and has an optimised, open-pit constrained mineral resource estimate (MRE) of 832,000 ounces of gold at 1.5g/t, capturing over 80% of the unconstrained total MRE of 1.05 million ounces.
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The Sandstone Gold Project in Western Australia is the company's flagship asset.
JORC resource estimates for additional deposits within the Sandstone project are expected shortly.
Resource estimations at Havilah and Ladybird prospects are on track for completion by the end of February.
The company’s goal is to define a +1 million ounce gold resource at the Sandstone Gold Project.
Investments and investor services
The company has launched a 1 for 3 non-renounceable pro-rata entitlement offer to eligible shareholders.
Alto is chaired by its largest shareholder, businessman and minerals chemist Terry Wheeler.
A JORC 2012-compliant estimate for Havilah deposit is expected by the end of January.
The company believes these rights will help meet its goal of delineating more than 1 million ounces at the project.
The convertible loan will be provided in three $100,000 tranches through Terry Wheeler’s private vehicle Windsong Valley Pty Ltd.
The company aims to expand gold resources and reserves ahead of resuming mining operations at the Sandstone Gold Project.
Alto’s aim is to expand the gold resources and reserves to recommence profitable mining operations at the Sandstone Gold Project.
The resignation of Terry Streeter is effective immediately.
The purchases increase Dermot Ryan's holding in the company to more than 7.4 million shares.
The company is exploring for gold across a number of prospective areas in Western Australia’s East Murchison region.
The company is planning further step-out drilling to define the project’s mineralised structures.
Investments and investor services
Up to 600 investors hear from 21 companies at events in Sydney and Melbourne this week.
Potential to double the current resource base to +500,000 gold ounces over the next 12 months.
Around 600 investors will spend time at the Sydney event on Tuesday or at the Melbourne event on Thursday.
The gold mineralisation has been delineated through Alto’s and previous explorers’ assay results.
The laterite gold mineralisation has been delineated through Alto’s and previous explorers’ assay results.