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Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to announce that its wholly owned subsidiary, Alien Metals Australia Pty Ltd (“AMA”) has entered into a conditional sale agreement (“Sale Agreement”) with GreenTech Metals Limited (ASX: GRE) (“GreenTech”) in respect of a 70% interest in the Munni Munni Project and surrounding tenements totaling 180km² located in the West Pilbara (the “Project”). AMA will retain a 30% interest in the Project and will enter into a joint venture agreement with GreenTech upon completion of the Sale Agreement (“JV Agreement”). AMA will be free carried through to the completion of a bankable feasibility study. The transaction is consistent with our balanced strategy of advancing and strengthening our asset base through targeted technical work and development, while assessing partnerships and selective monetisation opportunities that have the strong potential to maximise long-term shareholder value. This approach positions the Company to realise value when market conditions and timing are favourable, while continuing to advance and broaden the portfolio. At the same time, we will continue to consider opportunities to expand our asset base through carefully selected acquisition opportunities which meet the Board’s prudent criteria.
For further information on the Munni Munni Project, please see GreenTech’s announcement in relation to the Transaction here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03031093-6A1300593&v=undefined