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Alto Metals Ltd

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.

invest concept
Alto’s objective is to delineate a high grade multi-million ounce ore body at Sandstone

Alto Metals Ltd (ASX:AME) chairman Terry Wheeler has paid $600,000 to purchase 16.66 million company shares and receive 8.33 million attaching options.

The purchase was part of the $2.64 million placement that was completed in May 2019.

In order for Wheeler to participate, he required shareholder approval which was recently received allowing the share purchase to be confirmed.

READ: Alto Metals intersects up to 10.8 g/t gold in step-out drilling at Sandstone project

Alto continues to focus on developing its assets with a focus on its Sandstone Gold Project in Western Australia, where 10,000 metres of drilling is underway.

Drilling is targeting extensions to Sandstone's 290,000 ounce gold JORC resource grading 1.7 g/t gold.

The most recent drilling update from earlier this month revealed grades of up to 10.8 g/t gold has been intersected.

Quick facts: Alto Metals Ltd

Price: $0.03

Market: ASX
Market Cap: $7.05 m
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Alto Metals adding ounces and grade across multiple deposits at Sandstone...

Alto Metals Ltd (ASX:AME) managing director Dermot Ryan summarises for Proactive Investors the past 24 months of exploration and metallurgical test works at the approximately 800 square kilometre Sandstone Gold Project in Western Australia. There is currently a defined a gold resource of...

on 6/12/18

2 min read