Alien Metals Limited (LON:UFO), a company focused on the exploration and development of the Hancock iron ore Project and the Pinderi Hills project in Western Australia, has advised that it has entered a short-term funding facility on terms outlined below and continues to progress project development across its diversified resource portfolio.
Overview
• A funding package of up to A$2m has been made available through a convertible loan note as detailed below.
• The Facility will meet short-term capital requirements and contribute towards exploration and the ongoing review of strategic funding options to maximise value for the Company’s shareholders and stakeholders, including:
o Considering various longer-term financing options, including continued discussions with strategic partners regarding offtake funding, debt, and equity project funding in connection with the Hancock Project and the Pinderi Hills PGM, silver and base metals project; and
o Actively exploring the potential for the sale or joint venture of non-core assets providing further funding for the Company.