Alien Metals Limited Munni Munni acquisition completion date extension (2480Z)
21 Enero 2022 - 05:57AM
UK Regulatory
TIDMUFO
RNS Number : 2480Z
Alien Metals Limited
21 January 2022
Trading Symbols
AIM: UFO
FWB: I3A1
21 January 2022
Alien Metals Ltd
("Alien" or "the Company")
Extension to Completion date for Acquisition of 30% of 2.2Moz
Munni Munni Platinum Group Metals and Gold Project
Alien Metals Ltd (LSE AIM:UFO), a minerals exploration and
development company, is pleased to update the market on the Binding
Heads of Agreement (the 'Agreement') with ASX listed Platina
Resources Limited (ACN 119 007 939)(ASX: PGM) ('Platina') to
conditionally acquire Platina's 30% joint venture interest in the
Munni Munni Platinum Group Metals and Gold Project in the West
Pilbara, Western Australia ('Munni Munni Project') as per the 24
November 2021 annoucement.
With mutual consent from both parties, an extension to the
settlement date to complete the satisfaction (or waiver) of the
conditions precedent to the Agreement has been made. Specifically
obtaining necessary regulatory approvals and obtaining all
necessary third-party consents and approvals to give effect to the
proposed acquisition. This extension will take the final completion
date to 11 February 2022.
The Company notes that all internal Due Diligence has been
completed to the satisfaction of the Company and hence the
regulatory approvals are the outstanding consents to be in a
position to complete the Agreement.
Further updates will be provided in due course as
appropriate.
Alien Metals Limited
Bill Brodie Good, CEO & Technical Director
(via St-James' Corporate Services, Company Secretary)
Tel: +44 20 7796 8644
Beaumont Cornish Limited (Nomad)
James Biddle / Roland Cornish
www.beaumontcornish.com
Tel: +44 (0) 207 628 3396
Turner Pope Investments (TPI) Limited (Joint Broker)
Andrew Thacker / James Pope
Tel: +44 (0) 20 3657 0050
WH Ireland Ltd (Joint Broker)
Harry Ansell / Katy Mitchell
Tel +44 (0) 207 220 1666
Yellow Jersey PR (Financial PR)
Sarah Hollins / Annabel Atkins / Matthew McHale
alienmetals@yellowjerseypr.com
Tel: +44 (0) 20 3004 9512
Notes to Editors:
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 with
a conditional agreement to increase its interest to 90% in May 2021
also being put in place. 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.
In November and December 2021, the Company entered into two
Binding Heads of Agreement with ASX listed Platina Resources Ltd
and Artemis Resources Limited to, subject to the satisfaction of
certain conditions, acquire 100% of the current joint venture
interest in the Munni Munni Platinum Group Metals and Gold Project
in the West Pilbara, Western Australia, one of Australia's major
underexplored PGE and base metals projects.
The Company also holds two silver projects, San Celso and Los
Campos, located in Zacatecas State, Mexico, 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 also 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.
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END
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January 21, 2022 06:57 ET (11:57 GMT)
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