Conditional Agreement for Alien Metals to increase interest in Hamersley Iron Ore Project to 90%20 May 2021 14:38
Bill Brodie Good, CEO & Technical Director of Alien Metals, commented:
“The excellent initial assay results we’ve seen from our maiden drilling program on the Han**** licence,
recent field work carried out on both licences, and along with the continued surge in demand and price
for Iron Ore, have underscored the rationale for this acquisition and we are delighted to be increasing
our stake in the Hamersley Project to over 90%. By obtaining the major controlling interest, we will
have greater flexibility to both manage and monetise the Project as our continued exploration moves
it up the value curve.
“Iron ore has recently broken through the US$200 per tonne barrier, driven largely by global
infrastructure demand and stimulus spending as economies look to shake off the COVID-19 economic
slump. These factors are showing no sign of slowing as global demand for Iron Ore continues to rise
and we see continued resilience in the price. Against this backdrop, we feel this Acquisition is highly
value accretive for the Company and will deliver significant value for shareholders.
“The Company is in the process of commencing a follow-up drill program on the Han**** licence with
a view to generating a maiden JORC compliant resource and, once permits have been received, we will
commence our maiden drill program at the Brockman licence as well, which contains historic BHP iron
prospects and remains an exciting licence in its own right.”