Promising results from Alien Metals’ Hancock Iron Ore Project

Alien Metals Ltd has unveiled promising results from its development study on the Hancock Iron Ore Project, with an updated JORC resource estimate of 8.4 million tonnes at 60% iron. The project’s financial prospects are impressive, with an average annual EBITDA of AUD 39 million and a pre-tax net present value of AUD 146 million. The company plans to convert eight million tonnes of the resource into a mining inventory, with further exploration activities offering potential for expansion. The project is expected to commence in 2024, with first ore sales anticipated in Q1 2025.

In the heart of Western Australia’s iron ore territory, Alien Metals Ltd has unveiled promising results from its development study on the Hancock Iron Ore Project. The findings, which underscore the project’s strong economics and potential, are a testament to the company’s commitment to unearthing lucrative opportunities in the Pilbara region.

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.

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