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  • Aldoro Resources has completed the purchase of Altilium Metals
  • The purchase was made by the issue of 10.8 million shares
  • Aldoro has accepted the resignation of Bill Oliver from the Board
  • On market close, Aldoro is up 10.34 per cent and is trading at 16¢ apiece

Aldoro Resources has completed the purchase of Altilium Metals.

In September, the company announced it will acquire Altilium, who has assets in Penny South Gold, Narndee, Unaly Hill South and Windimurra.

The purchase was made by the issue of 10.8 million shares. The company also issued 1.2 million shares to Xcel Capital, as facilitators of the acquisition.

Rhod Grivas and Caedom Marriott have respectively joined the board of Aldoro as non- executive chairman and managing director.

“It was great to see the shareholder support at the recent AGM and I am pleased to join the board of Aldoro Resources,” Caedom said.

“Now the work really starts! We plan to hit the ground running and have completed initial exploration and targeting work at the Penny South Gold Project, he added.

Aldoro has accepted the resignation of Bill Oliver from the Board. Bill will be concentrating on other interests.

“The company would like to thank Mr Oliver for his work in the listing of the company and the progress made in advancing the existing asset suite. The
company wishes Bill well for the future,” Aldoro told the market.

Aldoro also announced it has completed its placement and raised $650,000 at 15¢ per share. Funds from this placement will go towards this acquisition.

On market close, Aldoro is up 10.34 per cent and is trading at 16¢ apiece.

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