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Alien Metals Ltd ( (GB:UFO) ) just unveiled an announcement.
Alien Metals has announced that joint venture partner West Coast Silver will launch a 1,500m diamond drilling programme at the Elizabeth Hill Silver Project near Karratha in early April 2026. The campaign marks the first systematic test of deeper silver mineralisation along the Munni Munni Fault beneath and south of the historic high-grade mine, aiming to intersect the structure within 200m of surface.
The six-hole programme is designed to follow up historic high-grade intersections, extend mineralisation down-dip and along strike, and test the “Pearls on a String” model of repeated high-grade shoots at depth. Drilling is expected to take four to six weeks with assays due progressively through the second quarter, and success could materially expand the scale and resource potential of Elizabeth Hill, enhancing Alien’s exposure to high-grade silver within its diversified Pilbara portfolio.
The most recent analyst rating on (GB:UFO) stock is a Hold with a £0.21 price target. To see the full list of analyst forecasts on Alien Metals Ltd stock, see the GB:UFO Stock Forecast page.
Spark’s Take on UFO Stock
According to Spark, TipRanks’ AI Analyst, UFO is a Neutral.
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and negative free cash flow) despite improved 2024 loss and cash-burn trends and low leverage. Technicals are comparatively strong with price above key moving averages and positive MACD, while valuation remains constrained by the company’s loss-making profile and lack of dividend support.
To see Spark’s full report on UFO stock, click here.
More about Alien Metals Ltd
Alien Metals Limited is a London AIM-listed mining exploration and development company focused on iron ore and precious and base metals in Western Australia’s Pilbara region. Its principal asset is the 90%-owned Hancock Iron Ore Project, which hosts a JORC-compliant resource and is being advanced toward a 2Mtpa operation, while the company also holds minority interests in the Munni Munni PGM project and the high-grade Elizabeth Hill Silver Project through joint ventures.
Average Trading Volume: 121,532,523
Technical Sentiment Signal: Strong Sell
Current Market Cap: £12.2M
For an in-depth examination of UFO stock, go to TipRanks’ Overview page.