REG - Alien Metals Limited - Placing to raise £1.8 million

Alien MetalsAnnouncement

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RNS Number : 1744L  Alien Metals Limited  11 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.

 

11 December 2025

Alien Metals Ltd

("Alien Metals", the "Company" or the "Group")

 

Placing to raise £1.8 million

 Proposed appointment of new director

 

 

Alien Metals Ltd (AIM:UFO), a minerals exploration and development
company, is pleased to announce a placing of 2,000,000,000 new common shares
of no par value each in the Company ("Common Shares") (the "Fundraise Shares")
at an issue price of 0.09 pence (the "Placing Price") to raise gross proceeds
of £1.8 million from investors (the "Placing").

 

The Company is also delighted to announce that subject to completion of the
customary appointment process including due diligence by the Company's
Nominated Adviser, Mr Michael Carter will be appointed as a new independent
non-executive director of the Company. Further information on Mr Carter is set
out below.

 

Alongside the Placing, Bennelong Resource Capital Pty Ltd ("Bennelong") has
agreed that £250,000 ("Conversion Amount") of the convertible notes held by
it pursuant to the existing funding facility in place (as previously announced
on 15 March 2024) ("Funding Facility") will be converted into 277,777,777
Common Shares ("Conversion Shares") at the Placing Price (the "Conversion")
with the repayment date of the balance of the Funding Facility outstanding to
be repaid or converted being extended from 31 December 2025 to 30 June 2026
 (the "Extension").

 

 

 

Belinda Murray, Executive Director, commented:

 

"We are pleased to have secured £1.8 million in new funding, supported by
investors who we believe recognise the strength of Alien's diversified
portfolio spanning silver, platinum group metals, copper, nickel and iron ore.
I am confident that our strategy of advancing and strengthening our asset
portfolio including through strategic joint ventures continues to resonate,
enabling value-adding work to be advanced by partners.

 

In addition to the placing, Alien expects to receive a further A$500,000 in
cash assuming completion as planned of the recently announced Munni Munni
Joint Venture, which will further support the cash position of the Company and
will enable the Company  to further pay down the balance of the Funding
Facility outstanding whilst being able to commit expenditures to advance the
Company's iron ore projects. The Board views the reduction of this facility as
an important step towards strengthening the Company's balance sheet and
ultimately moving Alien towards a debt-free position.

 

We are also delighted to strengthen the Board with the proposed appointment of
Michael Carter, whose 20-plus years of capital markets experience in junior
mining, including board-level exposure to transactions such as strategic asset
sales, will add meaningful depth to our governance and growth planning.

 

Operational momentum across our portfolio is building. Silver assays are
pending at Elizabeth Hill, PGM drilling is expected to commence within weeks
at Munni Munni, and work is advancing across our iron ore assets with the
support of specialist teams and our Technical Advisor, Mark Pudovskis. Our
involvement and technical contribution across the silver and PGM joint
ventures are assisting partners to prepare near-term drilling programmes. The
Company enters 2026 with a clear pathway of opportunities ahead."

 

Placing Highlights

 

·     The Company has raised £1.8 million before expenses through the
Placing arranged by Turner Pope Investments (TPI) Limited ("TPI" or the
"Bookrunner") by way of the issue of 2,000,000,000 Fundraise Shares at the
Placing Price.

·     The Fundraise Shares will represent approximately 17 per cent. of
the enlarged issued share capital (as enlarged by the Fundraise Shares and the
issue of the Conversion Shares).

·     The Placing Price represents a discount of approximately 25 per
cent. to the mid-market closing price on AIM of 0.12 pence per Common Share on
10 December 2025, being the latest practicable business day prior to the
publication of this Announcement.

·     In connection with the Placing, the Company will issue 666,666,666
warrants to subscribers, on the basis of one (1) warrant for every three (3)
new Fundraise Shares subscribed. Each warrant entitles the holder to subscribe
for one additional Common Share at an exercise price of 0.135 pence
(representing a 50% premium to the Placing Price), exercisable for a period of
12 months from the date of issuance.

·     The Company holds tenure over three iron ore projects (Hancock,
Vivash and Brockman) in the prospective Pilbara region of Western Australia.
All projects are at variable stages of exploration and / or development
maturity and are prospective for Direct Ship Ore (DSO) hematite goethite
bedded iron mineralisation grading greater than 60% Fe with marketable levels
of alumina, silica and phosphorous. The activity currently anticipated in
relation to the Company's iron ore projects in Western Australia includes:

o  Field reconnaissance on the Vivash project (E47/3071) for the purpose of
delineating any extent of outcropping interpreted DSO iron mineralisation
which extends northwest from the adjacent FMG mining lease (M47/1598). This
work is required prior to any follow up drill testing.

o  Field reconnaissance on the Brockman project (E47/3593) to delineate the
extent of historically identified Brockman Iron Formation hematite goethite
mineralisation, and potential detrital iron deposit (DID) over a 5 km strike
in the north of the tenement. This work is required prior to any follow up
drill testing.

o  Mineralisation growth activities over the Hancock project via field
reconnaissance and drill targeting, particularly over tenure which has yet to
be thoroughly explored. The objective is to refine and prioritise drill
targeting and potentially undertake drilling activities with post asset
review.

o  A review of the geological model which underpins the reported Hancock
Mineral Resource estimate. The purpose is to understand if the previous
estimate was overly conservative, and if additional unrealised tonnes could be
incorporated into the geological model.

The net proceeds of the placement, together with available cash resources and
anticipated proceeds of the Munni Munni Joint Venture, will be applied towards
progressing work on the Group's iron ore project, as outlined above, general
working capital and operational requirements, and the partial or complete
repayment of the Funding Facility prior to its expiry following the Extension.

 

In connection with the Placing, the Company has entered into a placing
agreement with TPI ("Placing Agreement") which includes customary terms and
conditions. The Placing is conditional, inter alia, on there being no breach
of the obligations under the Placing Agreement prior to admission of the
Placing Shares to trading on AIM becoming effective and upon Admission
occurring by not later than 16 December 2025 (or such later date as the
Company and TPI may determine, but not later than 31 December 2025).

In connection with the Placing, TPI will be issued with warrants ("Broker
Warrants") to subscribe for 200,000,000 new Common Shares exercisable at the
Placing Price. The Broker Warrants have a term of 3 years from the date of
admission to trading on AIM.

 

Updated Corporate Presentation

As highlighted in the Company's updated corporate presentation (which can be
found on the Company's website), Alien Metals is advancing towards a number of
key near-term milestones.

At the Hancock Iron Ore Project, the Company anticipates the commencement of
exploration activities during H1 2026 which is considered highly prospective
for additional iron ore mineralisation adjacent to the existing Hancock
deposit. These activities are aimed at expanding the current 8.4Mt resource.
Further details will be provided as appropriate in due course.

A copy of the updated corporate presentation can be found here:
https://www.alienmetals.uk/wp-content/uploads/20251210-UFO-Corporate-Slide-Deck.pdf
(https://www.alienmetals.uk/wp-content/uploads/20251210-UFO-Corporate-Slide-Deck.pdf)

 

Conversion and Extension of Funding Facility

It is proposed that the Conversion Amount be converted into 277,777,777
Conversion Shares at the Placing Price. Pursuant to the terms of the Funding
Facility, Bennelong will also be issued warrants to subscribe for 277,777,777
Common Shares at an exercise price of £0.00135 per Common Share (being a 50%
premium to the Placing Price), exercisable for a period of 36 months from
Admission.

 

The Company is pleased to announce that the date of repayment of the Funding
Facility has been extended to 30 June 2026.

 

In connection with the Extension, the Company and Bennelong have entered into
a deed of variation which provides, in addition to the Extension, for the
following matters:

·    As consideration for the Extension, Bennelong to be issued with
warrants to subscribe for 25,000,000 Common Shares at an exercise price of
£0.00135 per Common Share (being a 50% premium to the Placing Price),
exercisable for a period of 36 months from Admission.

·    Any disposal by the Company of any shareholdings in the Company's
joint venture partners, West Coast Silver and GreenTech Metals (upon
completion of the transaction announced on 1 December 2025) or interests in
the tenements held by the Company requires the prior consent of Bennelong,
unless the proceeds of those disposals are to be applied in paying down the
balance of the  Funding Facility.

·    Following the Conversion, the principal amount of the Funding
Facility to be repaid will be approximately £400,000. The Company is required
to repay A$500k (circa. £250,000) of the Funding Facility by the earlier of
31 January 2026 and the date falling 7 days after completion of the
transaction with GreenTech Metals. Given the funds to be received pursuant to
the Placing, the Board is comfortable with this requirement given the desire
to reduce the Funding Facility and to move Alien towards a debt-free position.

·    A simplification of the "Conversion Price" to apply in the event that
the outstanding Funding Facility is converted into Common Shares, such that
the conversion price will be the lowest price offered in an equity
fundraising  since commencement of the Funding Facility (with the potential
for a lower conversion price linked to VWAP having previously been included
and which could apply had the VWAP of the company's shares been lower being
removed from the Funding Facility). Notwithstanding this, in connection with
the Conversion Bennelong has agreed to effect that Conversion at the higher
price of the Placing Price (£0.0009 per Common Share).

·    The Extension coming into effect is conditional upon the Conversion
taking place and the FY26 budget of the Company being approved by Bennelong.
It is expected that both conditions will be satisfied on or before Admission.

 

Appointment of Non-Executive Director

Alien Metals is pleased to announce the proposed appointment of Mr Michael
Carter as an Independent Non-Executive Director, subject to the completion of
customary checks by the Company's Nominated Adviser. Mr Carter brings more
than 20 years of capital markets, corporate finance, and governance
experience, including senior advisory roles at CPS Capital and Indian Ocean
Capital, and directorships across multiple ASX-listed companies. His expertise
in equity financing, transaction structuring and strategic growth planning
will add significant depth to the Board as the Company advances its portfolio.
As and when the  appointment is finalised, a further announcement will be
made.

 

Appointment of Technical Advisor

Alien Metals is pleased to confirm the engagement of Mr Mark Pudovskis as
Technical Advisor to the Company. Mr Pudovskis, a Technical Director and
Principal Geologist with ERM Australia, brings more than 28 years of Pilbara
iron ore and global multi-commodity experience, including senior technical
leadership roles at BHP and extensive evaluation of over 100 iron ore deposits
worldwide. Under the geological support mandate prepared for Alien, Mr
Pudovskis will provide ongoing oversight across the Company's Pilbara
portfolio, including technical reviews, exploration programme design,
geological modelling and strategic guidance on project advancement. His depth
of experience in iron ore systems, resource development and exploration
management will materially strengthen Alien's technical capability as its
Western Australian projects move into their next phase of work.

 

Admission and Total Voting Rights

 

Application will be made to the London Stock Exchange for Admission of the
Fundraise Shares and the Conversion Shares to trading on AIM ("Admission"). It
is expected that Admission will become effective and dealings in the Fundraise
Shares and the Conversion Shares will commence at 8.00 a.m. on or around 16
December 2025.

 

The Fundraise Shares and the Conversion Shares will be issued fully paid and
will rank pari passu in all respects with the Company's existing Common
Shares.

 

Following Admission, the total number of Common Shares in the capital of the
Company in issue will be 11,547,931,674 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 issued share capital pursuant to the
Company's Articles.

 

 

 

 

 

 

 

For further information on the Company, please visit www.alienmetals.uk
(http://www.alienmetals.uk)  or contact:

Alien Metals Limited

Belinda Murray
T: +44 (0)20 7983 521488 (c/o Yellow Jersey)

Strand Hanson (Nominated Adviser)
James Harris / James Dance Tel: +44 (0) 207 409 3494

Zeus Capital Limited (Joint Broker)
Harry Ansell/Dan Bristowe/Katy Mitchell/Andrew de Andrade

Tel: +44 (0) 203 829 5000

Turner Pope (Joint Broker and Bookrunner)

Andy Thacker/Guy McDougall

Tel: +44 (0) 203 657 0050

Yellow Jersey PR (Financial PR)

Charles Goodwin / Shivantha Thambirajah

Tel: +44 (0) 20 3004 9512
alienmetals@yellowjerseypr.com (mailto:alienmetals@yellowjerseypr.com)

 

 

 

 

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