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Alien Metals interims show costs well under control and the mining portfolio expanding

Alien has a diverse portfolio of assets across Latin America and Australia, including significant exposure to silver

Alien Metals Ltd - Alien Metals interims show costs well under control and the mining portfolio expanding

Alien Metals Ltd (LON:UFO) turned in an operating loss of US$400,000 in the six month to June.

As at 30 June 2020, the company had US$700,000 in the bank.

During 2020, the Alien completed its initial high level exploration programme over its portfolio of mining concessions covering an area of over approximately 1,500 hectares, to develop and direct future exploration work.

As at 30 June 2020, the company held 12 fully-owned mining concessions in Mexico, a 51% interest in the Hamersley Iron ore projects in Australia.

It is currently in the process of acquiring 100% of the Elizabeth Hill Silver project in Australia. An initial letter of intent to acquire the Andromeda tenement adjacent to the San Celso Project in Mexico is also in place.

Quick facts: Alien Metals Ltd

Price: 1.166 GBX

LSE:UFO
Market: LSE
Market Cap: £40.05 m
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