Alien Metals raises £630,000 to accelerate iron ore and precious metals projects

Alien Metals Ltd (LON:UFO), a global minerals exploration and development company, is pleased to announce that the Company has raised gross proceeds of £630,000 (before expenses) though a placing of 466,666,667 new common shares of no par value in the Company at a price of 0.135 pence per share. The Placing Shares equate to approximately 6.7% of the Company’s issued share capital as enlarged by the Placing.  

The net proceeds of the Placing will be principally used to advance the Company’s iron ore project, silver and precious metals project in Western Australia and for general working capital purposes.

Appointment of Joint Broker

CMC Markets UK Plc, trading as CapX, acted as the Company’s sole placing agent in respect of the Placing and has been appointed as joint broker to the Company.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn

More articles like this

Insights on the Platinum Group Metals market

The Platinum Group Metals (PGMs) market has recently been examined in a study released by USD Analytics Market, shedding light on its size, share, and sales while identifying opportunities and conducting a risk analysis. The report

PGM metals in Global Innovation and Sustainability

Platinum group metals (PGMs) play a pivotal role in a wide range of industries, making them highly valuable and indispensable resources in today’s global economy. Comprising six metals – platinum, palladium, rhodium, ruthenium, iridium, and osmium

The global importance of Iron Ore

Iron ore, a naturally occurring mineral, plays a crucial role in the development of modern infrastructure and industries. As one of the most abundant elements on Earth, it is a primary source of iron, a key

Promising lithium discovery at Pinderi Hills

Errawarra Resources received promising results from an extensive two-month reconnaissance exploration at the Pinderi Hills project. The exploration, which involved soil, stream sediment, and rock chip sampling, successfully identified a significant lithium footprint and uncovered valuable

Iron ore futures recover amid positive China data

Iron ore futures saw a recovery on Friday, driven by better-than-expected inflation data from China, the top consumer of the metal. However, ongoing concerns about demand and high supply kept prices on track for a weekly

Iron ore prices soar to two-week high

Iron ore futures experienced a significant rise on Monday, reaching a two-week high, influenced by a promising Chinese economic outlook. This surge followed robust services data and continued expectations of economic stimulus from China, the leading

Alien Metals raises £0.6 million via Placing

Alien Metals Ltd (LON:UFO), a global minerals exploration and development company, has announced that, further to its announcement of 11:01 a.m. (London time), it has successfully completed and closed the Placing. The Placing has raised, in aggregate, gross proceeds

The significance of Iron Ore in the global economy

Iron ore is one of the most abundant and widely utilised natural resources globally. It serves as the primary raw material for steel production, essential for industries like construction, transportation, manufacturing, and energy. Its significance extends

Alien Metals and Australia’s Platinum Group Metals potential

Australia’s history with platinum group metal (PGM) deposits is mixed, with numerous unsuccessful attempts to develop operations since the market’s initial excitement in 1985. However, current conditions might favour the resurgence of these metals. Rob Mosig,