REG - Alien Metals Limited - MoU agreed with Pilbara Ports for Iron Ore Exports

Alien MetalsAnnouncement

28/11/2023 07:00

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RNS Number : 8231U  Alien Metals Limited  28 November 2023

 

Trading Symbols

AIM: UFO

FWB: I3A1

28 November 2023

 

 

Alien Metals Ltd

("Alien" or "the Company")

 

Memorandum of Understanding executed with Pilbara Ports Authority for Iron Ore
Exports

 

Alien Metals Ltd (AIM: UFO), a minerals exploration and development company,
is pleased to announce it has entered into a conditional, non-binding
Memorandum of Understanding ("MoU") with Pilbara Ports to access its Utah Bulk
Handling Facility ("Utah Point"), multi-user berth in Port Hedland. The
agreement is the first important step in securing the formal commitment from
Pilbara Ports to export the iron ore produced by the Company's Hancock iron
ore Project.

Highlights:

·   Pilbara Ports and the Company's wholly owned subsidiary, Iron Ore
Company of Australia Pty Ltd ("IOCA"), entered into an MoU

·   Pilbara Ports operates in the Pilbara Region of Western Australia, with
the Port of Port Hedland as the largest bulk export port in the world

·   The MoU paves the way for IOCA to access the common-use stockpiles at
Utah Point and export up to 1.25 million tonnes per annum (mtpa) of Iron Ore
from Q4 2024

·   IOCA is also pleased to announce that the next step in this process has
progressed to a point whereby Pilbara Ports and IOCA have substantially agreed
the terms of the binding agreement for iron ore export through Utah Point.
This agreement is subject to the typical regulatory approvals

Troy Whittaker, Chief Executive Officer commented:

"The signing of the Port MoU and settling key terms of the formal multi-user
agreement are important steps as we continue to secure the supply chain from
development, operations and to the end customer. We are confident Pilbara
Ports has the capacity and capability to handle our tonnage at the port and we
are delighted to have signed the MoU. We acknowledge Pilbara Ports efforts to
facilitate port access for miners such as IOCA and we look forward to working
closely with them as we finalise the the binding agreement and seek the
require regulatory approvals."

Further Information

The MoU paves the way for IOCA to access the common-use stockpiles at Utah
Point and export up to 1.25 million tonnes per annum (mtpa) of Iron Ore from
Q4 2024. The MOU is subject to certain conditions, expires on 1 October 2024
and contains agreement that the Company and Pilbara Ports will work towards
agreeing  an agreement and licence which sets out the terms on which Pilbara
Ports would allow IOCA to have access to the Utah Point. IOCA and the Pilbara
Ports have substantially agreed the terms of this agreement and it is subject
to the typical regulatory approvals.

Figure 1: Location of the Company's Iron Ore Projects, Western Australia

 

Figure 2: Hancock Project Tenements

 

 

 

Figure 3: Utah Point, Multi User Berth at the Port of Port Hedland

 

Figure 4: Utah Point, Multi User Berth at the Port of Port Hedland

 

Figure 5: Port Hedland Port

 

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

 

Beaumont Cornish Limited (Nomad)

James Biddle / Roland Cornish   Tel: +44 (0) 207 628 3396

 

WH Ireland Ltd

Harry Ansell / Katy Mitchell   Tel +44 (0) 207 220 1666

 

Yellow Jersey PR (Financial PR)

Charles Goodwin / Shivantha Thambirajah / Soraya Jackson   Tel: +44 (0) 20
3004 9512

alienmetals@yellowjerseypr.com

 

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

Notes to Editors:

Alien Metals Ltd is a mineral exploration and development Company listed on
the AIM market of the London Stock Exchange (LSE: UFO). The Company's focus is
on delivering a near term direct shipping iron ore operation at the Hancock
Project in the Pilbara region of 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. In May 2023, the Company also acquired
100% of Mallina Exploration Pty Ltd and with it, the Western Hancock Tenement.
The new tenement adjoins the Company's existing Hancock tenement, giving the
entire Hancock project direct access to the Great Northern Highway.

The Company also acquired 100% of the Vivash Gorge Iron Ore project in the
west Pilbara in July 2022.

The Company owns 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 broader Pinderi Hills tenement group in the West Pilbara, Western
Australia. This includes the Munni Munni Platinum Group Metals Project, 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 Pinderi hills tenement group also has significant Nickel and
Copper prospectivity.

The Company also holds silver, copper and base metal projects in Mexico,
however is currently looking at the best way to divest these for the benefit
of shareholders.

 

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