The man in question16 May 2022 00:11
A reinvigorated Alien Metals is all set to become the market’s next multi-million dollar prospect generator
2019-10-21 09:40:00
One deal has already been done, and more are in the pipeling
Alien Metals Ltd -
Alien has significant silver showings at its projects in Mexico
New board, new strategy, new projects, and new energy: Alien Metals Ltd (LON:UFO) is just emerging from a process of rebirth, following a changing of the guard at the top, and the difference is palpable.
Onto the scene bounds Richard Shemesian, a major backer of the reinvigorated Alien, and a man whom London investors may remember from the last mining boom, when he helped turn a lowly-rated iron ore Aim and ASX-listed vehicle called Aztec Resources into a A$300mln company that was able to sell out to the Chinese at just the right time.
Shemesian’s been cooling his heels somewhat since then, although he’s still involved with Artemis Resources (ASX:ARV), which he has just helped raise A$6mln and which is moving forward with exploration in, amongst other places, the Paterson Range.
Now he’s back in London though, having helped orchestrate a revitalisation and re-financing of Alien, and full of plans.
He’ll be helped along the way by new technical director Bill Brodie Good, who was appointed in July, and who brings a steady geological hand to the tiller - his impressive CV that boasts significant time at the top end of SRK among its many highlights.
Together they plan to transform Alien from the somewhat sleepy-eyed silver company it had ended up becoming under the tenure of the previous management, into an aggressive new acquisition vehicle that aims to hoover up opportunities in the mining sector as they arise.
Ah, you may say, but isn’t the mining sector lying heavily in the doldrums at the moment – what could possibly be done?
But it’s just when things seem at their worst that the smart money comes in. After all, from that point on, the only way is up.
So, is then safe to call the bottom of the cycle?
Anyone who makes such a call might risk being made hostage to fortune, but what is worth noting is that there are currently at least four mining companies trying to get listed on London either on Aim or on the Standard List at the moment, iron ore’s been strong all year, there’s a record-breaking gold price in Australia, and gold has been strong too in other currencies, and where gold goes so often does the rest of the junior mining sector follow.
What’s more, the majors are starting to come back to the juniors in a significant way. Within the last few days Glencore (LON:GLEN) has agreed a £1mln investment in Group Eleven Resources (CVE:ZNG), it’s well known that major miners are sizing up Conroy Gold for a possible partnership, Greatlan has been boosted by the interest of Newcrestl, and MOD has just been taken out by Sandfire Resources (ASX:SFR).
And it’s in this context that Alien Metals is about to start making some serious noise. It
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