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Alien Metals Ltd ( (GB:UFO) ) has shared an announcement.
Alien Metals reported that its joint venture partner West Coast Silver Limited has received a cash injection of about A$500,000 through the exercise of unlisted options, funds that West Coast intends to use for working capital and to advance its 2026 drilling and exploration programme across core projects including the Elizabeth Hill Silver Project. The capital raise strengthens West Coast Silver’s ability to progress exploration on one of Australia’s historically highest-grade silver assets, reinforcing the growth potential of the consolidated 180km² Elizabeth Hill land package and indirectly supporting Alien Metals’ strategy of creating shareholder value from its joint venture interests alongside its core iron ore developments in Western Australia.
More about Alien Metals Ltd
Alien Metals Limited is a mining exploration and development company listed on London’s AIM market, focused primarily on advancing its 90%-owned Hancock Iron Ore Project in Western Australia’s Pilbara region, which hosts a JORC-compliant resource and targets a 2Mtpa operation over 10 years. The company also holds exploration interests in additional Pilbara iron ore projects and maintains joint venture-based exposure to advanced precious and base metal assets, including the Munni Munni PGM-gold system and a 30% interest in the high-grade Elizabeth Hill Silver Project through a partnership with West Coast Silver Limited.
Average Trading Volume: 73,207,238
Technical Sentiment Signal: Sell
Current Market Cap: £14.72M
Learn more about UFO stock on TipRanks’ Stock Analysis page.