Alien Metals Ltd - precious and base metals explorer - To acquire tenement ELA 47/4422, which comprises 117 square kilometres of tenure adjacent to and surrounding company's Elizabeth Hill Silver project in Western Australia. Licence includes Sunchase, Conquest, Carver and Munni Munni East prospects.
Alien Metals to pay AUD40,000 in cash and issue of 37.4 million shares at price of 0.55 pence each.
"We are thrilled about the conditional acquisition of this license as it adds considerable exploration potential to the company's portfolio, with numerous new and exciting targets to develop. It adds significant tenure to the Elizabeth Hill Silver project area allowing us to work from a central location on several different targets and commodities having a range of known prospects that are prospective for precious and base metals," said Technical Director Brodie Good.
Current stock price: 0.73 pence
Year-to-date change: up significantly from 0.21p
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Alien Metals (UFO)