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Alien Metals Ltd ( (GB:UFO) ) just unveiled an update.
Alien Metals Ltd has announced a significant development in its joint venture with GreenTech Metals Ltd regarding the Munni Munni PGM-Cu-Ni Project. GreenTech has secured A$5.2 million in funding to expedite exploration activities, satisfying a key condition of their Sale Agreement. The capital will be used for immediate drilling programs aimed at validating and converting existing mineral resources to JORC standards. This transaction supports Alien’s strategy of strengthening its asset base while minimizing shareholder dilution, as the company retains a 30% interest in the project through to a bankable feasibility study.
More about Alien Metals Ltd
Alien Metals Ltd is a mining exploration and development company listed on the AIM market of the London Stock Exchange. The company focuses on advancing and developing its Hancock Iron Ore Project in Western Australia, which contains a JORC-compliant resource and offers significant exploration potential. Alien Metals also holds interests in other precious and base metal assets, including the Munni Munni PGM system and the Elizabeth Hill Silver Project, through joint ventures.
Average Trading Volume: 89,495,919
Technical Sentiment Signal: Sell
Current Market Cap: £11.36M
For detailed information about UFO stock, go to TipRanks’ Stock Analysis page.