Alien Metals Ltd (LSE:UFO) has reported a key milestone at the Munni Munni PGM-Cu-Ni Project following its joint-venture partner GreenTech Metals Ltd’s successful A$5.2 million capital raise. The funding fulfils an important condition of the parties’ Sale Agreement and will be directed toward accelerated drilling programmes aimed at confirming and upgrading existing mineral resources to JORC compliance. The development aligns with Alien’s strategy to grow its asset portfolio while limiting dilution for shareholders, with the company maintaining its 30% stake in the project through to completion of a bankable feasibility study.
More about Alien Metals Ltd
Alien Metals Ltd is an exploration and development company listed on AIM, with a primary focus on advancing the Hancock Iron Ore Project in Western Australia, which hosts a JORC-compliant resource and substantial upside potential. The company also holds interests in a range of precious and base-metal projects, including the Munni Munni PGM system and the Elizabeth Hill Silver Project, through joint-venture partnerships.
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