RE: Artemis - Agreement to Sell 70% Interest in Munni Munni Joint Venture for A$4.90m in Shares and Cash22 Dec 2021 11:22
22nd Dec 7am
The Agreement will mean that, on completion, Alien will move to 100% ownership of one of Australia's major palladium, platinum, gold and base metals projects after agreeing to acquire 30% interest from minority joint venture partner, Platina Resources Ltd (see announcement of 24 November 2021).
Highlights:
· On completion, Alien Metals will own 100% of the project, which will allow Alien to develop a systematic exploration and development programme, the first time a single company has owned the project for over a decade.
· The Munni Munni Project consists of several mining leases and sits adjacent to the Company's highly prospective Elizabeth Hill Project which already hosts potential for further significant silver, copper, nickel and PGE mineralisation.
· The strategic acquisition will allow the Company to review and explore an area of 200 km2 in the Munni Munni Complex which hosts a major PGE and high-grade silver mine.
· The Munni Munni Project hosts the largest ultramafic intrusion in the West Pilbara and is one of the biggest undeveloped primary Platinum Group Elements ('PGE') Resources in Australia:
https://www.investegate.co.uk/alien-metals-limited--ufo-/rns/acquisition-of-70--of-munni-munni-project/202112220700064186W/