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.

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,