REG - Alien Metals Limited - Appointment of Rod McIllree as Executive Chairman

Alien MetalsAnnouncement

07/09/2022 07:00

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RNS Number : 5147Y  Alien Metals Limited  07 September 2022

Trading Symbols

 
AIM: UFO

FWB: I3A1

7 September 2022

 

Alien Metals Ltd

("Alien" or "the Company")

 

Board Strengthened with Appointment of Roderick McIllree as Executive Chairman

 

Alien Metals Ltd ("Alien"), a UK listed global exploration and development
company, is pleased to announce that the appointment of Mr. Roderick McIllree
("Rod") as Executive Chairman has now been completed with immediate effect.
Accordingly, current Chairman, Dan Smith, becomes a Non-Executive Director.

 

Rod is an experienced mining executive, based in London, with a deep
understanding of global finance, M&A, project management, international
logistics and precious and base metal production. Rod was, until very
recently, the founding Executive Chairman at AIM traded Bluejay Mining Plc
where he built the company from inception. He is currently an Executive
Director at Standard listed, More Acquisitions Plc.

 

As part of the appointment, the Company proposes to issue Rod a total of
230,000,000 warrants (representing approximately 4.83% of the Company's issued
share capital) over the common shares of the Company ("Warrants") under the
terms of the Company's EMI Share Option Plan, which also makes provision for
the award of non-EMI share warrants, as set out below. Accordingly, under the
UK Corporate Governance Code, which has been adopted by the Company, Rod will
not be regarded as an independent director.

 

 Number of Warrants  Exercise Price (Pence)  Exercisable from      Exercisable to
 55,000,000          0.8                     6 months from issue   4 years from issue

 55,000,000          1.0                     12 months from issue  4 years from issue

 60,000,000          1.2                     12 months from issue  4 years from issue
 60,000,000          1.4                     12 months from issue  4 years from issue

 

Incoming Executive Chairman, Roderick McIllree stated:

 

 "I look forward to working closely with the team at Alien. The near-term
iron production in Western Australia is clearly the short-term focus.
Finalising the last steps to production including offtake and finance will
continue apace. However, what is becoming clear is there is significant
unrecognised upside potential in addition to the upcoming start of iron ore
production. Munni Munni and Elizabeth Hill are high-grade representations of
two very rare types of mineralising events that both demonstrate the necessary
characteristics required for significant metal accumulation. Work will now
start in earnest on both projects in parallel with the continued move towards
iron ore production in Western Australia".

 

Additional Information

 

As required under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for
Companies further disclosures are as follows.

 

Roderick (Rod) Claude McIllree, aged 48, has held the following directorships
and/or partnerships in the past five years;

 

 Current                                                        Past
 RM Corporate Limited                                           Bluejay Mining PLC
 More Acquisitions PLC                                          Apollon Formuaries Ltd
 Apollon Formularies PLC                                        Kingsrose Mining Ltd
 White Flame Energy Ltd (formerly Greenland Gas & Oil Ltd)      Finland Investments Limited
 Greenland Gas & Oil A/S                                        Greenland Exploration Limited
                                                                Millers Hill Pastoral Pty Ltd
                                                                Upper Mantle Investments Pty Ltd
                                                                Disko Exploration Limited
                                                                Dundas Titanium A/S
                                                                Nikkeli Greenland A/S

 

There is no further information on Mr McIllree required to be disclosed under
Schedule Two, paragraph (g) of the AIM Rules for Companies.

 

For further information please visit the Company's website at
www.alienmetals.uk, or contact:

 

Rod McIllree, Executive Chairman

Email: rcm@alienmetals.uk

Bill Brodie Good, CEO

Tel: +44 20 3811 2144

 

Beaumont Cornish Limited (Nomad)

James Biddle / Roland Cornish

www.beaumontcornish.com (about%3Ablank)

Tel: +44 (0) 207 628 3396

 

WH Ireland Ltd

Harry Ansell / Katy Mitchell

Tel +44 (0) 207 220 1666

 

Yellow Jersey PR (Financial PR)

Sarah Hollins / James Lingfield

alienmetals@yellowjerseypr.com

Tel: +44 (0) 20 3004 9512

 

Notes to Editors;

 

Alien Metals Ltd is a mining exploration and development company listed on the
AIM market of the London Stock Exchange (AIM: UFO). The Company's focus is on
precious and base metal commodities, with its operations located in proven
mining jurisdictions and it has embarked upon an acquisition-led strategy
headed by a high-quality geological team to build a strong portfolio of
diversified assets. In 2019, the Company acquired 51% of the Brockman and
Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and executed
an option agreement to increase its interest to 90% in August 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 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.

 

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