429: Bill Brodie Good of Alien Metals explains how the £4m raised will be used to advance their projects


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Bill Brodie Good CEO & Technical Director of Alien Metals #UFO explains how the £4m raised will be used to advance their iron ore, silver, gold and copper projects.
Alien Metals announces that it has successfully completed and closed the Placing.
The Placing has raised, in aggregate, gross proceeds of £4 million through the placing of 470,588,223 Placing Shares to certain institutional and other investors at a price of 0.85 pence per share.
The net proceeds of the Placing will be applied towards:
· Phase 3 infill and extensional drilling on the Hancock Iron Ore Project
· Permitting and infrastructure planning to move the Hancock project towards mining
· Ongoing exploration around the Elizabeth Hill Silver project
· Exploration drilling in Mexico;
· Early stage exploration on the Company's regional tenements including Munni Munni North and resource drilling at the Brockman Iron Ore Project and
· General working capital
Alien Metals Ltd is a mining exploration and development company listed on AIM of the London Stock Exchange (LSE: UFO). The Company's focus is on precious and base metal commodities, with its operations located in proven mining jurisdictions and it has embarked upon an acquisition-led strategy headed by a high-quality geological team to build a strong portfolio of diversified assets.
In 2019, the company acquired 51% of the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and has recently entered into a conditional agreement to increase its interest to 90%. In 2020 the company acquired 100% of the Elizabeth Hill Silver Project, which consists of the Elizabeth Hill Historic Silver Mine Mining Lease and the surrounding Munni Munni North Exploration Tenement. The Australian projects are located in the world-renowned Pilbara region of Western Australia.
The Company also holds two silver projects, San Celso and Los Campos, located in Zacatecas State, Mexico's largest silver producing state, which produced over 190m Oz of silver in 2018 alone, accounting for 45% of the total silver production of Mexico for that year. The Company holds a Copper Gold project in the same region, Donovan 2.
The company was also awarded an Exploration Licence in Greenland in late 2020, which surrounds the world class Citronen Zinc-Lead deposit.
In addition to progressing and developing its portfolio of assets and following its strategic review of its portfolio of silver and precious metals projects, Alien Metals has identified priority exploration targets within all of its projects which it is working to advance systematically.

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