REG - Alien Metals Limited - GreenTech raise A$5.2m for Munni Munni exploration

Alien MetalsAnnouncement

03/12/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251203:nRSC0444Ka&default-theme=true

RNS Number : 0444K  Alien Metals Limited  03 December 2025

 

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK
LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI
2019/310). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION
IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

Trading Symbols

AIM: UFO

FWB: I3A1

3 December 2025

 

Alien Metals Limited

("Alien" or the "Company")

Transaction Update - GreenTech announces A$5.2m capital raise to expedite exploration at Munni Munni PGE-Cu-Ni project
Capital Raising Condition Satisfied
Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to provide an update on the conditional transaction announced on
1 December 2025 (https://www.londonstockexchange.com/news-article/UFO/conditionally-secures-jv-partner-for-munni-munni/17350571)
 between its wholly owned subsidiary, Alien Metals Australia Pty Ltd ("AMA"), and GreenTech Metals Limited (ASX: GRE) ("GreenTech") regarding the Munni Munni PGM-Cu-Ni Project (the "Project").
One of the key conditions precedent has been satisfied
GreenTech has today announced that it has secured firm commitments of approximately A$5.2 million at A$0.055 per share from institutional and sophisticated investors in an oversubscribed placement ("the Placement").
This satisfies one of the key conditions precedent under the Sale Agreement announced on 1 December 2025.
GreenTech will require shareholder approval to finalise the Placement in full.
Remaining Conditions Precedent
Completion of the Transaction remains subject to the satisfaction or waiver of the remaining conditions precedent under the Sale Agreement, including:
o GreenTech shareholder approval for the issue of the Consideration Shares in accordance with ASX Listing Rule 7.1, and for the Placement.
o Execution of the Joint Venture Agreement between AMA and GreenTech.
o Execution of ancillary agreements required for the Joint Venture to proceed.
o Any remaining third-party or regulatory approvals required under the Transaction documents.
Completion will occur ten Business Days following satisfaction or waiver of all conditions precedent.
Further details are set out in the Company's announcement of 1 December 2025.
 
 

 

Munni Munni: Immediate Commencement of Work

 

The Sale Agreement allows GreenTech to commence work on the Munni Munni
Project prior to completion of the Joint Venture, at their own risk. GreenTech
has advised that proceeds of the Placement are to be allocated to immediate
work programs at the Munni Munni Project, with drilling commencing imminently.
The initial program comprises approximately 20 holes designed to twin selected
historic holes with the intention of providing the validation required to
support conversion of the existing Mineral Resource to JORC (2012) in early
2026. A detailed operational update, including drilling schedules and
technical work programs, will be disclosed following receipt of GreenTech's
finalised plan.

Belinda Murray, Executive Director of Alien Metals, commented:

"We are pleased that our planned joint venture partner has received strong
support from existing GreenTech shareholders and new investors, providing us
with confidence that the transaction is on track to complete in the coming
weeks. The funds raised will be used to conduct the first drilling program for
many years at the Munni Munni platinum group elements - copper - nickel
project, with drilling expected to commence imminently. Alien shareholders
will benefit from this work and, assuming completion of the JV as expected,
will be free carried to a bankable feasibility study, minimising dilution to
shareholders."

 

Strategic Benefits of the Transaction

·    Alien will retain a 30% free carried interest through to completion
of a bankable feasibility study at a large scale, multi-commodity PGM-Cu-Ni
system.

·    A$0.5 million cash consideration and 47 million GreenTech shares
equate to a 17.37% shareholding, providing exposure to both project-level
advancement and GreenTech's broader regional strategy across a consolidated
346km² land position, including Munni Munni PGE-Cu-Ni project and GreenTech's
100% owned Whundo Copper deposit.

·    GreenTech has strengthened its team with the appointment of Mr Stefan
Murphy as Non-Executive Director and Mr Kevin Frost as Technical Adviser. Mr
Murphy offers over 20 years' experience in exploration, operations and
corporate finance, including leading the Robe Mesa development at CZR
Resources through to its sale to Rio Tinto and partners. Mr Frost adds
discovery expertise from work on the Chalice project, recognised globally when
the Chalice discovery team was awarded the 2023 PDAC Thayer Lindsley Award for
excellence in global mineral exploration. The new team provides a blend of
Pilbara operational knowledge, project development capability and proven
discovery success.

·    Supports Alien's balanced strategy of advancing, strengthening and
optimising its asset base through targeted technical work and selective
monetisation.

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

Strand Hanson (Financial and Nominated Adviser)

James Harris / James Dance / Edward Foulkes

Tel: +44 (0) 207 409 3494

 

Zeus Capital Limited (Joint Broker)

Harry Ansell / Katy Mitchell Tel +44 (0) 203 829 5000

 

Turner Pope (Joint Broker)

Andy Thacker / Guy McDougall

Tel: +44 (0) 203 657 0050

 

Yellow Jersey (Financial PR)

Charles Goodwin / Shivantha Thambirajah

Tel: +44 (0) 203 004 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 follows a
balanced strategy of advancing and strengthening its asset portfolio through
targeted technical work and project development, while evaluating
partnerships, joint ventures, and selective monetisation opportunities that
are value-enhancing for shareholders. At the same time, Alien will continue to
consider opportunities to expand our asset base through carefully selected
acquisition opportunities which meet the Board's prudent criteria.

 

Alien's principal focus is the advancement and development of its 90%-owned
Hancock Iron Ore Project in the central Pilbara region of Western Australia.
The Hancock tenements contain a JORC-compliant resource of 8.4Mt at 60% Fe and
offer significant exploration upside, which is targeted to deliver a mining
operation of 2Mtpa for 10 years. The Project benefits from direct access to
the Great Northern Highway, providing a route to export facilities at Port
Hedland, one of the world's largest iron ore export hubs. Alien also holds
exploration interests in the Brockman and Vivash iron ore projects in the West
Pilbara.

 

Alien additionally retains exposure to two advanced precious and base metal
assets in the Pilbara. At Munni Munni, one of Australia's largest PGM systems
hosting a historic resource of 2.2Moz PGM (Palladium, Platinum, and Rhodium)
and gold, the Company has entered into a conditional joint venture with
GreenTech Metals Ltd, under which Alien will retain a 30% interest, free
carried to the completion of a bankable feasibility study. Alien also retains
a 30% interest in the Elizabeth Hill Silver Project through a joint venture
with West Coast Silver Limited, which encompasses Elizabeth Hill Mining Lease
and exploration tenements surrounding the historical silver mine, which has
produced some of Australia's highest-grade silver ore during the late 1990s.

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  MSCTJBATMTAMMRA



            Copyright 2019 Regulatory News Service, all rights reserved