REG - Alien Metals Limited - Alien acquires 90% in Hamersley Iron Ore Projects

Alien MetalsAnnouncement

20/12/2022 07:00

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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 (http://www.alienmetals.uk/)

, (http://www.alienmetals.uk/)
 or contact:
 
Beaumont Cornish Limited (Nomad)
James Biddle / Roland Cornish

www.beaumontcornish.com (http://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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