Middle Island takes a bite of Alto

30th October 2020 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – ASX-listed Middle Island has acquired a 10% interest in fellow-listed Alto Metals through an on-market transaction at a cost of 9.5c a share.

Alto shares closed at a high of 11.5c a share on Friday.

Middle Island last year failed in a bid to acquire Alto in a scrip offer for six of its own shares for every one Alto share held, valuing Alto’s shares at 5.4c each at the time.