RE: Strong Buy23 Feb 2023 13:56
************* Interviews
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Alien Metals now moving to a positive news flow footing (LON:UFO)
Alien Metals Ltd
Amilia Stone
February 23, 2023
10:37 am
Alien Metals plc (LON:UFO) Executive Chairman Rod McIllree caught up with ************* to discuss strategy, why Han**** is the flagship project, key milestones to look out for and updates on the Elizabeth Hill and Munni Munni projects.
Q1: Firstly, could you just give us a brief overview of the company and its strategy?
A1: I’m a relatively recent arrival to the Alien Metals team, I joined around August/September last year and I was really focused in on the iron side of the equation of this business.
One of the challenges that small companies face getting access to these sorts of regions, if you like, is they tend to be fairly well dominated by the larger players, you’ve got the usual suspects, BHP, Rio Tinto etc.
So, I think for us to actually have such a large and valuable land holding within these iron provinces, that’s still direct shipping, access to a multi-user port, low capex, low opex, all the ingredients here are for a project that’s really, once it’s up and going, is going to be quite an attractive little investment opportunity for us.
Q2: So, what was your reasoning for coming on board and then investing so heavily in the company?
A2: Look, I guess the simple answer to that is that, as I said, iron is a fairly simple proposition, you don’t need any upgrading, the infrastructure is already in place, we don’t have to build our own ports and processing etc., this is a direct shipping material.
I guess what really got me excited about Han**** was that I flew over the license in a helicopter from one end to the other, and one of the things that became very apparent very quickly is that these resources, in my mind, are only a very small part of the overall picture here. This is something that will continue to grow and grow and grow.
What the company now has focused on, because I guess this answers your question of what am I doing about the overall strategy of the business now, is that we have shifted our focus from being a multi-project company that incrementally moves their projects forward to now being singularly focused on bringing Han**** into production.
Now, with reference to the recent drilling, and I’m sure we’ll come to that in a second. One of the things, if investors remember back in September I did advise because the Munni Munni and Elizabeth Hill licenses are also, in their own sphere of influence, very significant assets as well, that we would be undertaking some drilling to test a few ideas that we had been working on at the time. What people are now seeing are these results starting to roll into market, we’ve got the recent release of the Elizabeth Hill drilling there, some rea