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Alien Metals Ltd ( (GB:UFO) ) just unveiled an announcement.
Alien Metals Ltd has announced a successful placement to raise £1 million through the issuance of 1.25 billion new shares. The funds will be used to advance the Hancock iron ore and Pinderi Hills PGM projects in Western Australia, as well as for general working capital. The company has also appointed Turner Pope Investments as a joint broker and extended its funding facility with Bennelong Resource Capital, providing financial flexibility. This strategic move is expected to enhance Alien Metals’ financial position and support its exploration activities, particularly in the promising Hancock project, which benefits from high-grade, low-cost ore and strong market interest.
More about Alien Metals Ltd
Alien Metals Ltd is a global minerals exploration and development company, focusing on projects in Western Australia. The company is involved in the exploration of iron ore and platinum group metals (PGM), with a strategic interest in advancing its Hancock Iron Ore and Pinderi Hills PGM projects.
Average Trading Volume: 40,887,073
Technical Sentiment Signal: Sell
Current Market Cap: £6.44M
For a thorough assessment of UFO stock, go to TipRanks’ Stock Analysis page.