Alien acquires 90% in Hamersley Iron Ore Projects

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:

· £60,000 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: [phone]

 

WH Ireland Ltd

Harry Ansell / Katy Mitchell

Tel [phone]

 

BlytheRay (Financial PR)

Megan Ray / Said Izagaren

Tel: [phone]

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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