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Alien Metals Ltd (AIM:UFO), a minerals exploration and development company, is pleased to announce a placing of 2,000,000,000 new common shares of no par value each in the Company (“Common Shares“) (the “Fundraise Shares”) at an issue price of 0.09 pence (the “Placing Price“) to raise gross proceeds of £1.8 million from investors (the “Placing”).
The Company is also delighted to announce that subject to completion of the customary appointment process including due diligence by the Company’s Nominated Adviser, Mr Michael Carter will be appointed as a new independent non-executive director of the Company. Further information on Mr Carter is set out below.
Belinda Murray, Executive Director, commented:
“We are pleased to have secured £1.8 million in new funding, supported by investors who we believe recognise the strength of Alien’s diversified portfolio spanning silver, platinum group metals, copper, nickel and iron ore. I am confident that our strategy of advancing and strengthening our asset portfolio including through strategic joint ventures continues to resonate, enabling value-adding work to be advanced by partners.
In addition to the placing, Alien expects to receive a further A$500,000 in cash assuming completion as planned of the recently announced Munni Munni Joint Venture, which will further support the cash position of the Company and will enable the Company to further pay down the balance of the Funding Facility outstanding whilst being able to commit expenditures to advance the Company’s iron ore projects. The Board views the reduction of this facility as an important step towards strengthening the Company’s balance sheet and ultimately moving Alien towards a debt-free position.
We are also delighted to strengthen the Board with the proposed appointment of Michael Carter, whose 20-plus years of capital markets experience in junior mining, including board-level exposure to transactions such as strategic asset sales, will add meaningful depth to our governance and growth planning.
Operational momentum across our portfolio is building. Silver assays are pending at Elizabeth Hill, PGM drilling is expected to commence within weeks at Munni Munni, and work is advancing across our iron ore assets with the support of specialist teams and our Technical Advisor, Mark Pudovskis. Our involvement and technical contribution across the silver and PGM joint ventures are assisting partners to prepare near-term drilling programmes. The Company enters 2026 with a clear pathway of opportunities ahead.”
Updated Corporate Presentation
As highlighted in the Company’s updated corporate presentation (which can be found on the Company’s website), Alien Metals is advancing towards a number of key near-term milestones.
At the Hancock Iron Ore Project, the Company anticipates the commencement of exploration activities during H1 2026 which is considered highly prospective for additional iron ore mineralisation adjacent to the existing Hancock deposit. These activities are aimed at expanding the current 8.4Mt resource. Further details will be provided as appropriate in due course.
A copy of the updated corporate presentation can be found here: https://www.alienmetals.uk/wp-content/uploads/20251210-UFO-Corporate-Slide-Deck.pdf