REG - Alien Metals Limited - Crushing and Screening Contractor Secured

Alien MetalsAnnouncement

30/08/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230830:nRSd7116Ka&default-theme=true

RNS Number : 7116K  Alien Metals Limited  30 August 2023

 

 

Trading Symbols

AIM: UFO

FWB: I3A1

30 August
2023

 

Alien Metals Ltd

("Alien" or "the Company")

 

Preferred Crushing and Screening Contractor Secured

 

Alien Metals Ltd (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 selected Rapid Crushing &
Screening Contractors Pty Ltd ("Rapid Crushing") as its preferred supplier to
undertake the crushing and screening operations at the flagship Hancock Iron
Ore Project ("Hancock" or the "Project") in the Pilbara region of Western
Australia.

IOCA has conducted a competitive market engagement over the previous six
months to identify commercially and technically adept contractors to undertake
works as part of the Hancock development and operations. This process has
involved pre-qualified and targeted proponents, submitting bids for specific
scopes of works and agreeing to key commercial terms.

Rapid Crushing is a market leader in Iron Ore, having previously worked with
Pilbara Iron Ore giants, Fortescue Metals Group and they are the incumbent
contractor at Galaxy Lithium for the past six years, with that work
continuing. The selection of Rapid Crushing for crushing services reinforces
the assumptions made within the Scoping Study to deliver a C1 cost of
approximately US$60 per tonne ("/t").

Highlights

·    Rapid Crushing is one of the largest, privately and independently
owned crushing contractors in Australia.

·    Rapid Crushing is a well-known, established and regarded market
leader with extensive experience in Iron Ore and other hard rock mining.

·    IOCA has secured costs for crushing and screening at a fixed price per
tonne produced.

·   The pricing submitted by Rapid Crushing supports and is consistent with
the assumptions made by the Scoping Study to deliver a C1 cost of
approximately US$60/t.

·    The selection of Rapid Crushing paves the way to finalise the updates
to the financial model as the Company continues to progress the remaining
studies and regulatory workstreams required for a final investment decision
for the Hancock Project.

·    The selection of Rapid Crushing validates the Company's primary
procurement efforts and Rapid Contracting is the last key contractor to be
selected. There are only ancillary packages that remain.

·    The award of this contract remains subject to the completion of a
positive Definitive Feasibility Study ("DFS"), approvals, funding and the
Board making a final investment decision.

Troy Whittaker, Chief Executive Officer, commented:

"We are pleased to announce that Rapid Crushing has been selected as the
preferred tenderer for crushing and screening operations at our Hancock
Project. Rapid Crushing's significant hard rock mining knowledge and
experience, particularly in iron ore, will be of great benefit to our overall
operations.

"We will be working closely with Rapid Crushing to finalise optimisation
activities that support the accelerated DFS work streams related to price
opportunity as we prepare and execute the contractual documents.

"The selection of Rapid Crushing finalises the material procurement efforts
for the Project. This will result in a high level of validated and secured
costing for the Hancock Project."

Further Information

Figure 1: Location of Hancock Iron Ore Project, Western Australia

Figure 2: Proposed Crushing & Screening Plant

 

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

Alien Metals Limited Troy Whittaker

T: +44 (0) 20 7138 3204 (c/o BlytheRay)

 

Beaumont Cornish Limited (Nomad)

James Biddle / Roland Cornish

Tel: +44 (0) 207 628 3396

 

WH Ireland Ltd (Joint Broker)

Harry Ansell / Katy Mitchell

Tel +44 (0) 207 220 1666

 

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 December 2022 moved to 90% legal and beneficial ownership. The
Company also acquired 100% of 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 Mining Lease and the 115km(2) 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 various
locations around the world however is currently looking at the best way to
divest these for the benefit of shareholders.

Definitions

C1 Cost: direct costs, which include costs incurred in mining and processing
(labour, power, materials), transport and loading onto a vessel, general
overheads.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCUKANRORUWUAR