Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
An announcement from Alien Metals Ltd ( (GB:UFO) ) is now available.
Alien Metals Limited has completed a significant joint venture transaction with Errawarra Resources Ltd for the Elizabeth Hill Silver Project in Western Australia. This transaction grants Errawarra a 70% interest in the project, while Alien retains a 30% stake. Errawarra will manage and fund the joint venture, which includes a capital raising of A$3 million to support upcoming drilling activities. The deal provides Alien with approximately A$2.5 million in total consideration, enhancing its working capital and allowing further development of its other projects. This strategic partnership ensures Alien maintains significant exposure to potential gains from the silver project, bolstering its position in the mining industry.
More about Alien Metals Ltd
Alien Metals Limited is a mining exploration and development company listed on the AIM market of the London Stock Exchange. The company focuses on delivering a profitable direct shipping iron ore operation from its Hancock iron ore project in Western Australia and holds interests in other exploration projects, including one of Australia’s largest PGM deposits, Munni Munni.
Average Trading Volume: 40,486,814
Technical Sentiment Signal: Sell
Current Market Cap: £7.2M
Find detailed analytics on UFO stock on TipRanks’ Stock Analysis page.