leadf
logo-loader
viewAlien Metals Ltd

Alien Metals raises £275,000 to expedite exploration work

“This placing will also allow us to actively review strategic opportunities that present themselves during the current environment"

Alien Metals Ltd - Alien Metals raises £275,000 to expedite exploration work

Alien Metals Ltd (LON:UFO) said it has raised £275,000 of new capital so that it can expedite exploration work across projects in Mexico and Australia.

The money will also allow the company to examine strategic opportunities that are being presented to the company in the current market, it added.

Through a placing the company is selling 343.75mln shares priced at 0.08p each. Investors will also receive one share warrant for every new share they buy.

READ: Alien Metals delineates two robust targets at Donovan 2

The company plans to use the funds to conduct initial scout drilling at the Los Campos project area and sampling at the San Celso silver project.

It will also complete the Elizabeth Hill acquisition, commission data interpretation from the Donovan 2 copper-gold project and finalise planning for fieldwork for iron ore projects in Australia.

"We believe that with careful budgeting, we can deliver high-impact exploration programs across our existing and proposed licences as soon as safe fieldwork becomes possible both in Mexico and Australia,” Bill Brodie Good, Alien Metals technical director said in a statement.

“This placing will also allow us to actively review strategic opportunities that present themselves during the current environment," he added.

Quick facts: Alien Metals Ltd

Price: 1.1 GBX

LSE:UFO
Market: LSE
Market Cap: £37.63 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Alien Metals Ltd named herein, including the promotion by the Company of Alien Metals Ltd in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

FTSE falls back down to earth after vaccine injected highs

FTSE 100 started the last day of the week on the back foot as positive vaccine news are now archived in the past. London’s leading index dropped 44 points to 6,294 in early trades. Tesco PLC (LON:TSCO) is speeding up environmental goals and plans to reach net-zero carbon emissions by 2035,...

on 13/11/20

2 min read