TIDMUFO
RNS Number : 2404K
Alien Metals Limited
20 December 2022
Trading Symbols
AIM: UFO FWB: I3A1
20 December 2022
Alien Metals Ltd
("Alien Metals" or "the Company")
Alien completes acquisition of 90% interest in Hamersley Iron
Ore Projects
Alien Metals Ltd (LSE AIM:UFO) an iron ore pre-production
company with additional precious and Platinum Group Metals projects
is delighted to announce, further to the RNS dated 02 November 2022
whereby the Company exercised its option with Windfield Metals Pty
Limited ("Windfield") (the "Option") to acquire an additional 39%
interest in the Hancock and Brockman projects ("the Projects"),
that the transaction has now closed with Alien now the legal and
beneficial owner of a 90% direct interest in the licences
associated with the Projects.
Rod McIllree, Executive Chairman of Alien Metals, commented:
"As we continue working towards production at Hancock in 2023
moving to 90% is a logical next step in the project evolution and
cements our position in the Pilbara as an emerging potential
producer of high grade-high purity, direct shipping, iron ore.
"Alien, together with its 100% owned subsidiary IOCA, remain
focused on our 2023 production goal. We would like to thank
Windfield for the seamless transaction and welcome them as a
long-term shareholder as we continue to build what I believe will
be one of Australia's next DSO iron mining operations and add value
for all stakeholders including the Karlka Nyiyaparli Aboriginal
traditional owners. We look forward to sharing more exciting
updates as the project advances through permitting and on to the
start of mining."
Further information
Completion of the acquisition of the 39% interest was subject to
the satisfaction of the following conditions:
-- GBP60,000 payment in cash;
-- 260,000,000 Alien Common Shares; and
-- 100,000,000 Share Purchase Warrants, exercisable at 1 penny on or before 31 December 2025.
As part of the transaction Alien will transfer its interest in
the Projects to its 100% owned Australian subsidiary Iron Ore
Company of Australia Pty Limited who will become 90% owner and
manager.
Accordingly, the Company has now issued Windfield with
260,000,000 Common Shares at a price of 0.45 pence each (the
"Windfield Shares"), representing 4.88% of the enlarged share
capital, along with the warrants as detailed above. Following this
issue, Windfield will hold a total of 376,666,666 Common Shares,
representing 7.07% of the enlarged share capital.
Admission and Total Voting Rights
Application will be made to the London Stock Exchange for
admission of the 260,000,000 Common Shares to trading on AIM. It is
expected that admission will become effective and dealings in the
Commons Shares commence on AIM at 8.00 a.m. on 23 December
2022.
The Windfield Shares will be issued fully paid and will rank
pari passu in all respects with the Company's existing Ordinary
Shares.
Following Admission, the total number of Common Shares in the
capital of the Company in issue will be 5,324,836,801 with voting
rights. This figure may be used by shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in, the Company's share capital pursuant to the Company's
Articles.
For further information please visit the Company's website at
www.alienmetals.uk , or contact:
Beaumont Cornish Limited (Nomad)
James Biddle / Roland Cornish
www.beaumontcornish.com
Tel: +44 (0) 207 628 3396
WH Ireland Ltd
Harry Ansell / Katy Mitchell
Tel +44 (0) 207 220 1666
BlytheRay (Financial PR)
Megan Ray / Said Izagaren
Tel: +44 (0) 20 7138 3204
About Alien
Alien Metals Ltd is a global mining exploration and development
company listed on the AIM market of the London Stock Exchange (LSE:
UFO). The Company's focus is on starting iron production at Hancock
as well as precious, PGM and base metal exploration at its other
100% owned projects. In 2019, the Company acquired 51% of the
Brockman and Hancock Ranges high- grade (Direct Shipping Ore) iron
ore projects and has today moved to 90% ownership of these iron
projects.
In 2020 the Company agreed to acquire 100% of the Elizabeth Hill
Silver Project, which consists of the Elizabeth Hill Historic
Silver Mine Mining Lease and the 150km2 exploration tenement around
the mine. The Company also holds two silver projects, San Celso and
Los Campos, located in Zacatecas State, Mexico, Mexico's largest
silver producing state, which produced over 190m oz of silver in
2018 alone, accounting for 45% of the total silver production of
Mexico for that year. The Company also holds a Copper Gold project
in the same region, Donovan 2.
In November and December 2021, the Company entered into two
Binding Heads of Agreement with ASX listed Platina Resources Ltd
and Artemis Resources Limited to acquire 100% of the current 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.
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END
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