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Alien Metals Ltd ( (GB:UFO) ) just unveiled an announcement.
Alien Metals has confirmed that its joint venture partner West Coast Silver Limited has completed a A$3.2m placement, issuing 16,842,105 new shares, leaving Alien with an 8.7% equity stake in the ASX-listed explorer. The funding bolsters West Coast Silver’s capital base as it advances the Elizabeth Hill Silver Project—historically one of Australia’s highest-grade silver operations and now part of a consolidated 180km² land package along the Munni Munni fault system—potentially enhancing the value of Alien’s 30% carried interest in the project and strengthening its broader strategy of leveraging joint ventures to advance key non-core assets.
The most recent analyst rating on (GB:UFO) stock is a Hold with a £0.13 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 GB:UFO Stock
According to Spark, TipRanks’ AI Analyst, GB:UFO is a Neutral.
The score is held down primarily by weak financial performance (no revenue, ongoing losses, and negative free cash flow despite improvement in 2024). Technical signals are moderately positive and provide some support, but valuation remains unattractive given negative earnings and no indicated dividend yield.
To see Spark’s full report on GB:UFO stock, click here.
More about Alien Metals Ltd
Alien Metals Ltd is a mining exploration and development company listed on London’s AIM market, pursuing a balanced strategy of advancing its asset portfolio while forming value-enhancing partnerships and selective monetisation deals. Its principal focus is the 90%-owned Hancock Iron Ore Project in Western Australia’s Pilbara region, which hosts a JORC-compliant resource of 8.4Mt at 60% Fe and is being targeted for a 2Mtpa, 10-year mining operation with highway access to Port Hedland export facilities. The company also holds iron ore exploration interests at Brockman and Vivash, and maintains 30% interests in the Munni Munni PGM project and the Elizabeth Hill Silver Project via joint ventures, retaining exposure to advanced precious and base metal assets in a tier-one mining jurisdiction.
Average Trading Volume: 78,203,672
Technical Sentiment Signal: Sell
Current Market Cap: £15.01M
See more data about UFO stock on TipRanks’ Stock Analysis page.