Xtremepicks: ALTO is on High Alert for Monday. This stock is ready to Rock and Roll!

Jan. 11, 2010 - PRLog -- Xtremepicks: ALTO is on High Alert for Monday. This stock is ready to Rock and Roll!


ALTO closed Friday at $0.57 on 242K shares traded

Xtremepicks has put ALTO on High alert and has just put out some exciting news today which we see this propelling the price much higher next week!

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Alto Group Holdings, Inc. Announces Execution of Definitive Agreement to Acquire West African Gold Concessions


NEW YORK, NY -- (Marketwire) -- 01/10/10 --

Alto Group Holdings, Inc.  ("Alto Group Holdings," "Alto" or the "Company"), is very pleased to announce that the Company has executed a formal definitive Joint Venture agreement with Castle Peak Mining, Ltd. whereby the Company will acquire a 70% participating interest in the Nkwanta Mining Concession as its primary target and will exercise its option on selecting a 50% participating interest in one of the two bordering concessions known as Ayiem and Asuogya. The option will designate a secondary target from the Castle Peak projects in Ghana, West Africa by forming a joint venture with the mineral rights owner



Alto has selected the Nkwanta concession as its primary target in response to the discovery of the "Golden Arrow" high grade vein system and plans to make Nkwanta its number one priority target for exploration. The other two optioned concessions; Ayiem and Asuogya, will be explored in the upcoming months and the Company will determine which concession shall be its secondary target for which it will continue to hold a 50% participating interest. The company aims to finalize this determination by December 31, 2010





The terms of the agreement include exploration expenditure commitments, a schedule of cash payments and issuance of restricted shares. As part of the agreement, the Company has commenced an aggressive exploration and development program in Ghana. Field crews have been mobilized and work has begun on the concessions. Alto has assembled a high quality team to conduct the work supervised by persons classed a Q.P. (Qualified Person under N.I

Policy 43-101)



Alto will spend $100,000 on the Phase 1 program for property evaluation in order to select the two primary and secondary acquisitions. Additional work commitments of $1,500,000 for Phase 2 exploration throughout the calendar year 2010 and further expenditures of $1,500,000 in 2011 and $2,500,000 in 2012 amount to a cumulative work expenditure of $5.5 million on the properties (All figures in US dollars)



Alto has agreed to pay for the expenses related to mineral licenses, permitting, legal fees and regulatory reporting as required to maintain the projects in good standing with the Ghana ministry and mineral commission

The Company will be utilizing the existing infrastructure of Castle Peak through use of their Ghana offices, staff and geological team to conduct its exploration activities



The Company is pleased to invite interested parties and stakeholders to visit our website at www.altomines.com





We Seek Safe Harbor

Please remember to due your due diligence on ALTO


 
 

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