🕐15.12.11 - 11:27 Uhr

ALECTO MINERALS - SPECULATIVE BUY FROM FOX DAVIES - INITIATION OF COVERAGE



Hi there Please find attached an Initiation of Coverage on Alecto Minerals, the AIM listed exploration company with copper and base metal and uranium licences in Mauritania and Ethiopia, by house broker Fox Davies, who are initiating coverage with a SPECULATIVE BUY recommendation.

The Companys share price is at 1.75p today. Juan Alverez, resource analyst at FD said, "We believe that Alectos ground is highly prospective with lots of potential for upside.

Its most prospective asset in our opinion is the recently acquired Wayu Boda prospect in Ethiopia, which exhibits extensive artisanal workings for gold and emeralds which establish instant drill targets for the company.

The Wad Amour property in Mauritania is also prospective as shown by rock chip sampling conducted earlier this year which returned grades of up to 5.8% Cu, 0.66 g/t Au and 13.9 g/t Ag from separate samples. "Alecto is continuing its exploration efforts into 2012 with the aim of delineating drill targets for the next phase of exploration.

The team is known for its ability to identify and acquire undervalued properties and are currently looking at other proposals. "This is an investment for someone with a high appetite for risk but who can see the potential for large share price gains if the company deliver exciting results from its current exploration programme." Kind regards Lizzie [cid:image001.jpg@01CCBB12.5FD805E0]






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