TIDMUFO
RNS Number : 2757F
Alien Metals Limited
04 November 2022
Trading Symbols
AIM: UFO
FWB: I3A1
4 November 2022
Alien Metals Ltd
("Alien" or "the Company")
IOCA executes MOU for iron ore bunker allocation at Pilbara
Ports Utah Point
Alien Metals Ltd (LSE AIM:UFO), a global minerals exploration
and development Company, is pleased to announce that its wholly
owned subsidiary, Iron Ore Company of Australia Pty Ltd ("IOCA")
has entered into a Memorandum of Understanding ("MOU") to enter in
an Agreement for the sharing of bunker allocation at the Pilbara
Ports Authority's Utah Point export facility with Element 25 Ltd
(ASX Code: E25) in relation to the Company's Hancock iron ore
project ("Hancock") located in the Pilbara, Western Australia.
Highlights:
-- The MOU provides a framework for:
o sharing of the E25 existing bunker allocation at Utah
Point,
o sharing of offsite storage capacity within proximity of the
Port Hedland Port,
o partnership opportunities in relation to:
-- sub-contractor engagement targeting operational flexibility
and reductions to logistics costs; and
-- improve bunker utilisation and overall net tonnage
throughput.
o reviewing investment opportunities to both parties'
benefit.
-- IOCA and E25 will work towards executing a formal agreement in Q1 2023.
-- E25 is a manganese producer located immediately south of Newman, Western Australia.
-- Discussions continue with the Pilbara Ports Authority
regarding an IOCA independent allocation at Utah Point.
Roderick McIllree, Chairman of Alien Metals, commented:
"Execution of this MOU with E25 is an important step towards
unlocking the export capacity required for Hancock. We will
continue to work with the Pilbara Ports Authority to obtain an
independent export allocation at the Utah Point facility in line
with our production profile over time however this MOU not only
gives us immediate access but also potentially paves the way for
IOCA to increase its production capacity through Port Hedland to
more than our stated 1.2mt/pa."
Justin Brown, Managing Director of E25 commented: "The
opportunity to work with Alien Metals to share subcontractors,
optimise transport infrastructure utilisation and overheads as well
as overflow storage will assist both parties to reduce logistics
costs. The opportunity may also present E25 with an opportunity to
charter larger vessels which will further reduce sea freight and
improve throughput rates. The cooperation will further assist in
providing E25 the ability to put additional material from our
planned expansion and optimisation of Butcherbird through Utah
Point. Ultimately, we also see the opportunity to reduce our carbon
footprint in pursuit of our goal to deliver zero carbon manganese
to the fast-growing EV battery market. "
Key Terms of the MOU
The non-binding MOU provides a framework for the parties to
negotiate an agreement for IOCA to access existing bunker
allocation and export capacity at the Pilbara Port Authority's Utah
Point export facility at a rate of more than one (1) shipment per
calendar month.
The MOU also provides the framework for IOCA to access up to
40,000t of stockpile offsite storage at the E25 facility near Utah.
This provides the opportunity to "sprint" additional tonnage to the
port whilst loading thereby increasing total tonnes shipped and
decreasing the costs overall of each shipment.
Pilbara Ports Authority - Utah Point Export Facility
As announced on 24 October 2022, the Company continues to engage
with the Pilbara Ports Authority (PPA) for its own direct access to
the Utah Point Public User Facility at Port Hedland, Western
Australia for export of iron ore, located approximately 425km from
Hancock. High level meetings were recently held in Perth and Port
Hedland to highlight the economic potential of Hancock and the need
for port allocation. Recent communication from the PPA has
continued to encourage the Company that it will receive an export
allocation at this facility in line with its production profile for
next year. This agreement with E25 provides a pathway to early port
access whilst this process is completed.
For further information please visit the Company's website at
www.alienmetals.uk, or contact:
Alien Metals Limited
Rod McIllree, Executive Chairman
Bill Brodie Good, CEO
Tel: +44 (0) 20 7138 3204
Beaumont Cornish Limited (Nomad)
James Biddle / Roland Cornish
www.beaumontcornish.com
Tel: +44 (0) 207 628 3396
WH Ireland Ltd (Joint Broker)
Harry Ansell / Katy Mitchell
Tel +44 (0) 207 220 1666
Turner Pope Investments (TPI) Limited (Joint Broker)
Andrew Thacker / James Pope
Tel: +44 (0) 20 3657 0050
BlytheRay (Financial PR)
Tim Blythe / Megan Ray / Said Izagaren
Tel: +44 (0) 20 7138 3204
Notes to Editors
Alien Metals Ltd is a mining exploration and development Company
listed on the AIM market of the London Stock Exchange (LSE: UFO).
The Company's focus is on delivering a profitable, long life direct
shipping iron ore operation based out of the Pilbara in Western
Australia. In 2019, the Company acquired 51% of the Brockman and
Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects
and in November 2022 exercised its option to move to 90% once
certain CP's are satisfied. The Company also acquired 100% the
Vivash Gorge Iron Ore project in the west Pilbara in July 2022.
The Company acquired 100% of the Elizabeth Hill Silver Project,
which consists of the Elizabeth Hill Historic Silver Mine Mining
Lease and the 115km2 exploration tenement around the mine.
In March 2022 the Company acquired 100% of the former joint
venture interest in the Munni Munni Platinum Group Metals and Gold
Project in the West Pilbara, Western Australia, one of Australia's
major underexplored PGE and base metals projects. Munni Munni holds
a historic deposit containing 2.2Moz 4E PGM: Palladium, Platinum,
Gold, Rhodium.
The Company also holds silver, copper and base metal projects in
Mexico however is currently looking at the best way to divest these
for the benefit of shareholders.
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END
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November 04, 2022 03:00 ET (07:00 GMT)
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