Law firm Hill Dickinson has recently advised AIM-listed client Alien Metals Limited (AIM:UFO) on a placing that raised gross proceeds of £2 million from investors.
Alien Metals is a mining exploration and development company that is focusing on delivering a profitable, long-life direct shipping iron ore operation based out of the Pilbara in Western Australia. In 2019, the company acquired 51% of the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and in December 2022 moved to 90% legal and beneficial ownership. The company also acquired 100% the Vivash Gorge iron ore project in the West Pilbara in July 2022.
Alien Metals Ltd (LON:UFO) is a global minerals exploration and development company that will shortly make the transition to iron ore producer. The company was formed from Arian Silver in late 2018, retaining some of the companies more valuable Mexican projects before embarking on an acquisition led strategy, headed up by an excellent geological team and targeted entirely on Western Australia.