R/€ = 16.27 Change: -0.01
R/$ = 14.53 Change: -0.01
Au 1343.25 $/oz Change: -0.91
Pt 801.53 $/oz Change: 4.27
 
 
R/€ = 16.27 Change: -0.01
R/$ = 14.53 Change: -0.01
Au 1343.25 $/oz Change: -0.91
Pt 801.53 $/oz Change: 4.27
 
 
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Alto raises funds for drilling at Sandstone

6th May 2019 BY: Esmarie Iannucci
Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – ASX-listed junior Alto Metals has announced a A$2.6-million capital raise to fast-track drilling at its Sandstone gold project, in Western Australia.

The company placed some 56.87-million shares, at 3.6c each, along with one free attaching unquoted option, exercisable at 7c each for every two shares subscribed.

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“Alto is extremely pleased with the interest and support from investors which represents a strong endorsement of Alto’s Sandstone gold project, technical capabilities and ongoing strategy to generate and drill test a pipeline of highly prospective exploration targets,” said Alto chairperson Terry Wheeler.

“With this funding secured, we can commence the aggressive drilling campaign of approximately 10 000 m, targeting high-grade gold at several known prospects at Havilah, Vanguard and Lord Nelson, in addition to exploration at a number of new targets we have identified.”

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Alto will raise an additional A$600 000 through a share placement to Wheeler, to maintain his interest in the company. 

EDITED BY: Creamer Media Reporter
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