Alto Group Holdings Inc fka ALTO

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IAMGOLD(NYSE co) NEAR ALTO in Mali...
There is a @#$!##@ LOT OF GOLD IN MALI!

http://www.iamgold.com/English/Operations/Operating-Mines/Yatela-Gold-Mine/Overview/default.aspx
Yatela Gold Mine, Mali
OVERVIEW

OVERVIEW
LOCATION

The Yatela Gold Mine is located 25 kilometres north of the Sadiola Gold Mine in southwest Mali, West Africa near the Senegal-Mali border, approximately 50 kilometres to the SSW of the town of Kayes, the regional capital. Kayes has a population of roughly 100,000 people. The city is located 510 kilometres northwest of the Mali capital Bamako.

The Republic of Mali is a landlocked nation bordering Algeria on the north, Niger on the east, Burkina Faso and the Côte d'Ivoire on the south, Guinea on the south-west, and Senegal and Mauritania on the west. The country is just over 1,240,000 km² with an estimated population of almost 12,000,000.


The Yatela Mining Permit covers an area of 195 square kilometres in a remote part of Mali. In 2005, a new access road was constructed between Yatela and Sadiola to facilitate movement between the two operations.

There is an airstrip at the Sadiola Gold Mine capable of handling light aircraft on a charter basis from Bamako.

Kayes is serviced by rail, road and air from Bamako, the capital of Mali, and from Dakar, the capital of Senegal. Bamako has an international airport with daily flights to many other West African and European destinations. There are return flights twice a week between Bamako and Kayes. Dakar is a major port of entry to West Africa by sea and air and the primary supply route for imported goods coming to the minesite.






http://www.reuters.com/article/idUSSGE6B50AK20101206

http://www.avnelgold.com/exploration/fougadian/ReportC_AVN_KAL_483_378edit.pdf

UPDATE 1-Iamgold, Avnel form JV to develop permit in Mali

Avnel says Iamgold to fund the entire permit

* Iamgold to get a right to acquire 51 pct initial stake

Dec 6 (Reuters) - Avnel Gold Mining (AVK.TO) said it entered into a second joint venture agreement with Iamgold Corp (IMG.TO) to develop the Fougadian Exploration project in Mali, West Africa.

Iamgold will have the right to acquire a 51 percent stake initially in the project upon establishing a qualifying mineral resource of not less than 250,000 ounces of gold, and will also fund the project entirely.

Avnel owns 90 percent in Fougadian Exploration permit.

After Iamgold completes a pre-feasibility study the mid-tier gold company will have the right to increase its interest to 65 percent in the permit.

The companies had earlier signed a joint venture deal for Kalana exploitation permit in Mali.

In October, Avnel Gold said assay results related to its Kalana exploration project might be inaccurate, as SGS laboratory testing the drill samples did not follow certain protocols. [ID:nN18260692]

Avnel's shares, which have gained about 38 percent since October, closed at 38 Canadian cents on Wednesday on the Toronto Stock Exchange. Iamgold closed at C$16.81 on Friday. (Reporting by Aftab Ahmed in Bangalore; Editing by Maju Samuel) ([e-mail]; within U.S. [phone]; outside U.S. [phone]; Reuters Messaging: [e-mail]))