Alien Metals Ltd (LSE:UFO) booked a loss of US$816,000 for the six months to June 2021, as exploration and evaluation work continued across the company’s broad portfolio of base and precious metals assets.
As at the end of June cash and cash equivalents stood at US$3.3mln.
"The first 6-months of calendar 2021 have seen a number of positive developments for Alien,” said Alien’s chairman Dan Smith.
“The company has continued to advance its understanding of the Hamersley iron ore projects, which has seen two successful drilling programmes executed at the Hancock DSO prospect, with the company having just released its maiden inferred JORC compliant resource with plenty of upside potential remaining on both tenements.”
But there’s more to Alien than the iron ore.
Throughout the period we have also seen the benefits of our detailed data compilation at the Elizabeth Hill silver project, with the generation of a number of near-mine high-priority exploration targets and scale potential for the historic Elizabeth Hill silver deposit and have commenced an inaugural drilling programme at the project,” added Smith.
“Whilst Capstone Mining Corp (TSX:CS) decided not to proceed with the farm-in JV with the company in June this year, the company continues to see potential in the Donovan 2 copper-gold project in Mexico. In July, Alien advised that it had commenced an independent review for planning the next phase of exploration at the project.”
There are also a number of acquisition opportunities being brought to the company, he added.