Alto Metals to review Habrok takeover offer after Goldsea bid is set to lapse
Alto directors have advised that shareholders should TAKE NO ACTION in respect of the Habrok proposal until they receive further advice from the board.
Company
Alto Metals Ltd
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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Alto Metals surges after fielding improved Goldsea takeover offer with price lifted to 7.5 cents
The new bid is a 15% improvement on the previous 6.5 cent offer and also exceeds the Habrok proposal of 6.6 cents.
Alto Metals lifts Lord Nelson gold resource by 60% to 109,000 ounces at 1.9 g/t
Lord Nelson deposit contributes 33% of the total resource at Sandstone Project and is still open in all directions, with further drilling planned to determine its full potential.
Alto Metals fields competing takeover proposal from Habrok
The Habrok offer at 6.6 cents per share will not be conditional on due diligence, financing, regulatory approval or further internal approvals.
Alto Metals directors unanimously recommend accepting Goldsea offer
The directors have reversed a previous decision after Goldsea Australia Mining submitted a more favourable supplementary bidder’s statement.
Alto Metals firms up Sandstone gold potential with more high-grade Lord Nelson results
The inferred resource estimate at Lord Nelson is 980,000 tonnes at 2.2 g/t gold for 68,000 ounces, which forms part of the global indicated and inferred mineral resource estimate for Sandstone of 290,000 ounces.
Alto Metals recommends shareholders reject Goldsea takeover offer
The company believes recent takeover actions are testament to the potential of its Sandstone Gold Project in Western Australia which has a JORC resource of 290,000 ounces grading 1.7 g/t gold.
Alto Metals high-grade gold hits highlight continuity of primary Lord Nelson mineralisation
The results confirm potential along the southern extension of the deposit and below the historic open pit.
Alto Metals' recent new shareholder builds stake
Alto's board is reviewing a takeover offer from Goldsea, who recently lodged a bidder’s statement.
Alto Metals board reaffirm to take no action while takeover offer is evaluated
Alto's board will review Goldsea’s bidder’s statement and will write to Goldsea seeking certain clarifications.
Alto Metals intersects wide gold zones beneath Lord Nelson pit at Sandstone Gold Project
Four metre composite assays have been received for the first three deeper RC holes targeting primary gold mineralisation, with gold intersected in every drill hole.
Alto Metals in trading halt pending exploration results and corporate update
The trading halt will remain in place until Friday March 13 or when an announcement is made – whichever occurs earliest.
Alto Metals new substantial shareholder increases stake
Alto recently received a takeover offer, which may explain why the new substantial shareholder has further increased its stake.
Alto Metals gains new substantial shareholder
Alto recently received a takeover offer, which may explain why this investor has emerged on the register
Alto Metals hits shallow, high-grade gold just 200 metres from historic Lord Nelson pit at Sandstone
The company's Sandstone Gold Project covers more than 800 square kilometres of the highly prospective and under-explored Sandstone Greenstone Belt in Western Australia.
Alto Metals in trading halt with exploration results announcement pending
The West Australian-based company is focused on gold exploration with its Sandstone Project covering 80% of the Archean Sandstone Goldfield around 600 kilometres north of Perth.
Alto Metals receives cash takeover offer, board recommends take no action
Alto's board considers the continued, unsolicited, interest a strong endorsement in the company and the Sandstone Gold Project.
Alto Metals confirms Middle Island takeover bid for Alto has lapsed
Alto's board of directors had earlier unanimously recommended that shareholders reject the unsolicited takeover offer by MID.
Alto Metals highlights Sandstone Gold Project exploration achievements at AGM
The company’s strategy for Sandstone is now more focused with a few specific target areas planned for the next stage of drilling.
Alto Metals identifies compelling drill targets to drive next gold exploration phase at Sandstone
Drilling is designed to focus on depth and strike extensions of shallow high-grade gold mineralisation at the historical Lord Nelson and Lord Henry pits.
Alto Metals issues statement recommending rejection of Middle Island’s takeover offer
The level of acceptances by Alto’s shareholders remains negligible, evidenced by MDI's relevant Interest of only 1.57% in AME's shares as on September 23 2019.
Alto Metals drills high-grade gold extensions at Sandstone Project
Assays from the initial 6,300 metres of the 10,000-metre program have been received and support a resource upgrade.
Alto Metals golden Lord Nelson results show potential to grow Sandstone resource
Results demonstrate the granodiorite host rock in the Lord Nelson open pit broadens to the south with potential to discover additional mineralisation.
Alto Metals chairman buys $600,000 worth of shares
This is a substantial purchase from the chairman and is a strong vote of confidence for the company’s future.
Alto Metals intersects up to 10.8 g/t gold in step-out drilling at Sandstone project
Results are also pending from the Lord Nelson and Havilah prospects.
Alto Metals board to consider increased takeover offer from Middle Island
The takeover offer has increased from five to six Middle Island shares for every one Alto share.
Alto Metals increases Sandstone Gold Project resource to nearly 300,000 ounces
The maiden inferred resource estimates from the Ladybird and Havilah deposits have potential to be increased with further planned exploration to follow.
Alto Metals has drill spinning for 10,000-metre program at Sandstone Gold Project
The company’s Sandstone Gold Project covers more than 800 square kilometres in a prolific WA gold district with surrounding infrastructure.
Alto Metals in trading halt pending update on shortfall placement shares
The trading halt will remain in place until the start of trading on Thursday, May 16, 2019, or when an announcement is made.
Alto Metals welcomes defeating condition triggered on Middle Island Resources’ takeover bid
Alto chairman Terry Wheeler believes the offer fails to recognise the company’s unrealised potential.
Alto Metals directors outline recommended rejection of Middle Island Resources’ takeover bid
The directors’ target statement formally outlined reasons to reject the proposed buyer’s bid.
Alto Metals will use $2.6 million to fast-track drilling at Sandstone Gold Project
Commitments secured from this placement will enable Alto to accelerate drilling, progress further exploration, resource study work and cover general working capital.
Alto Metals in trading halt ahead of capital raising news
The companies securities will remain in trading halt until the beginning of trade on Monday, May 6, or when an announcement is made to the market.
Alto Metals board recommends shareholders reject Middle Island offer
The takeover offer is for five Middle Island shares for every one Alto share.
Alto Metals board mulling formal recommendation for takeover offer
The minimum acceptance condition has been reduced to 50.1%.
Alto Metals major shareholders representing 32.12% do not intend to accept Middle Island offer
The offer is highly conditional and includes a 90% minimum acceptance condition.
Alto Metals chairman increases shareholding
Earlier this month, Alto received an all-scrip off-market takeover offer.
Alto Metals to potentially fast-track into gold developer with Middle Island takeover bid
The combined Middle Island-Alto assets offer a growth opportunity for current and future shareholders through low capital intensity and near-term gold production.
Alto Metals appoints Matthew Bowles as non-executive director
The company’s board now comprises Terry Wheeler, Jingbin Wang and Matthew Bowles.
Alto Metals enters trading halt ahead of board update
Two board members recently purchased over $100,000 worth of stock in the company.
Alto Metals board members increase stake after buying more shares
The Sandstone Gold Project in Western Australia is the company's flagship asset.
Alto Metals promotes Patrick Holywell to board level
JORC resource estimates for additional deposits within the Sandstone project are expected shortly.
Alto Metals' historical drilling data confirms high-grade gold at Sandstone North
Resource estimations at Havilah and Ladybird prospects are on track for completion by the end of February.
Alto Metals reveals historical high-grade gold intersections at Ladybird
The company’s goal is to define a +1 million ounce gold resource at the Sandstone Gold Project.
Investments and investor services
Alto Metals to raise up to $2.38 million for exploration at Sandstone Gold Project
The company has launched a 1 for 3 non-renounceable pro-rata entitlement offer to eligible shareholders.
Alto Metals targets 500,000 gold ounces at Sandstone in 2019 enroute to 1+ million
Alto is chaired by its largest shareholder, businessman and minerals chemist Terry Wheeler.
Alto Metals set to add to Sandstone gold bounty with Havilah resource
A JORC 2012-compliant estimate for Havilah deposit is expected by the end of January.
Alto Metals Ltd acquiring rights to shallow gold at Sandstone project
The company believes these rights will help meet its goal of delineating more than 1 million ounces at the project.
Alto Metals enters $300,000 convertible loan facility with chairman and major shareholder
The convertible loan will be provided in three $100,000 tranches through Terry Wheeler’s private vehicle Windsong Valley Pty Ltd.
Alto Metals intersects high-grade gold up to 19.2 g/t at Vanguard prospect in WA
The company aims to expand gold resources and reserves ahead of resuming mining operations at the Sandstone Gold Project.
Alto Metals eyes 1 million+ gold resource at Sandstone to recommence mining
Alto’s aim is to expand the gold resources and reserves to recommence profitable mining operations at the Sandstone Gold Project.
Alto Metals chairman resigns from board, Terry Wheeler elected acting chairman
The resignation of Terry Streeter is effective immediately.
Alto Metals managing director ups stake through on-market trades
The purchases increase Dermot Ryan's holding in the company to more than 7.4 million shares.
Alto Metals managing director increases shareholding to over 7 million shares
The company is exploring for gold across a number of prospective areas in Western Australia’s East Murchison region.
Alto Metals intersects 40 metres at 3.5 g/t gold at Sandstone, confirms geological models
The company is planning further step-out drilling to define the project’s mineralised structures.
Investments and investor services
RIU Resources Investor Roadshow draws hundreds of investors seeking junior opportunities
Up to 600 investors hear from 21 companies at events in Sydney and Melbourne this week.
Alto Metals reveals maiden gold resource at Indomitable and Vanguard Camp deposits
Potential to double the current resource base to +500,000 gold ounces over the next 12 months.
RIU Resources Investor Roadshow hits Sydney and Melbourne this week
Around 600 investors will spend time at the Sydney event on Tuesday or at the Melbourne event on Thursday.
Alto Metals extends laterite gold mineralisation at Indomitable North with high-grade assays
The gold mineralisation has been delineated through Alto’s and previous explorers’ assay results.
Alto Metals defines shallow high-grade gold at Tiger Moth deposit
The laterite gold mineralisation has been delineated through Alto’s and previous explorers’ assay results.
Alto Metals extends large gold-in-soil anomaly at Hancocks prospect
The Sandstone Gold Project comprises over 800 square kilometres of the prospective Archaean Sandstone Goldfield.
Alto Metals defines Valiant gold anomaly at Sandstone project
Drill testing of the target is set to begin as soon as approval is granted.
Alto Metals defines gold-in-soil anomaly at Sandstone Gold Project
The anomaly indicates the potential for a primary gold source at depth.
Alto Metals hits further high-grade gold at Sandstone Project
Sandstone has produced over 1.3 million ounces of gold since 1894.
Alto Metals Ltd begins maiden drilling at Sandstone Gold Project
Alto Metals Ltd (ASX:AME) has commenced the maiden drilling program at its Sandstone Gold Project in Western Australia.