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Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to advise that its joint venture partner, West Coast Silver Limited (ASX: WCE) (“West Coast” or “West Coast Silver”) has received firm commitments to raise A$3.2 million (before costs) via a placement of fully paid ordinary shares (the “Placement”) to existing and new institutional and professional investors.
Following completion of the Placement, Alien will hold an 8.7% interest in the then issued share capital of West Coast. The Placement is anticipated to be completed on or around 7 January 2026, subject to receipt of funds and completion of standard settlement procedures. A further announcement will be made at that time.
The Placement will provide additional funding to maintain exploration momentum at Elizabeth Hill and progress regional target evaluation across West Coast’s consolidated project area.