When news drops, where will the sp go...15 Oct 2020 12:11
That's anyones guess but don't rule out 4p to 6p.
In the meantime new investors could re- read what UFO has to offer investors.
Very informative read.
Alien Metals Ltd has a diverse portfolio of commodities to develop
2020-08-05 06:17:00
Alien Metals' transformation into a project generator is proceeding apace
Alien Metals Ltd -
Australia is one of the world's major iron ore producers
Junior with silver interests in Mexico and Australia
Also potential DSO iron ore assets
The company intends further deals to build portfolio
What does the company do?
Alien Metals Ltd (LON:UFO) is a mining project generator, which plans to create value for shareholders by identifying and acquiring assets in the base and precious metals space and then adding value and selling them on or joint venturing them out.
What does the company own?
The portfolio includes significant legacy assets from the company’s former life, in the days when it was known as Arian Silver. The assets in Mexico have significant potential, high grade, and are located in well-known mining districts adjacent to some major names in silver mining.
The company also has an interest in iron ore projects in Australia, which look highly prospective for DSO.
Mining industry professionals will know that DSO can be at a premium in the iron ore space, especially for juniors, since it means rock can be mined and shipped directly without any processing, thus saving on potentially huge investment in processing plant and equipment.
Grades taken in sampling as part of an ongoing due diligence process at Alien’s Brockman and Han**** Ranges projects have returned higher than 60% in several cases, and higher than 65% in one case.
It’s all the more significant because of the location of these projects in Australia, right in the heart of a prolific mining district, and not too far away from the famous mining export hub of Port Hedland.
In December, Alien Metals agreed to acquire the former producing silver mine, Elizabeth Hill.
One of the very few native silver mines in Australia, Elizabeth Hill is in the Pilbara region of Western Australia.
https://www.proactiveinvestors.co.uk/companies/amp/news/906864/alien-metals-ltd-has-a-diverse-portfolio-of-commodities-to-develop-906864.html
How's it doing?
In April 2020 the company released the results of an IP survey completed at Donovan 2 in Mexico, which identified two promient targets. The plan is to undertake a drill programme as soon as feasible. At the same time broker First Equity noted that the company is operating in areas that are still relatively clear of coronavirus.
In May, the company raised £275,000 of new capital so that it can expedite exploration work across projects in Mexico and Australia.
The money will also allow the company to examine strategic opportunities that are being presented to the company in the current market, it added.
The company plans to use the funds to conduct initial scout drill