Proactive Investors - Run By Investors For Investors

Alto Metals chairman increases shareholding

Earlier this month, Alto received an all-scrip off-market takeover offer.
drill rig on site at Sandstone Project
The Sandstone Gold Project in Western Australia is Alto's flagship asset

Alto Metals Ltd (ASX:AME) chairman Terrence Wheeler has acquired 6.38 million shares valued at $300,000.

The acquisition increases Wheeler’s holding in the company to 40.7 million shares.

This recent share acquisition is a result of the conversion of a convertible loan.

READ: Alto Metals to potentially fast-track into gold developer with Middle Island takeover bid

Earlier this month, Alto received an all-scrip off-market takeover offer for all issued ordinary Alto shares from gold exploration company Middle Island Resources Ltd (ASX:MDI).

The offer for five Middle Island shares for every one Alto share is based on Middle Island’s closing price of 0.9 cents on February 28, 2019, valuing Alto at about $9.4 million.

View full AME profile View Profile

Alto Metals Ltd Timeline

Related Articles

1547791194_RNX-757.JPG
January 18 2019
The company’s focus is the Yandal East Gold Project and it also has base metal exposure through a prospective Canadian asset.
project area
February 06 2019
Drilling to improve the JORC classification and extend the current resource will start this quarter.
Lithium Australia aspires to ‘close the loop’ on the energy-metal cycle
March 12 2019
Recent results show high-quality lithium-ion batteries can be generated from mine waste using its process.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use