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Alien Metals (UFO) – Corporate – Independent review of Pinderi Hills Market Cap £13.6m Share Price 0.2p

Alien yesterday announced that an independent review of its Pinderi Hills project in Western Australia had been completed and that new precious and base metal targets had been identified.

The Pinderi Hills project is prospective for a wide range of commodities and covers 180 square kilometres of the Pilbara Region of Western Australia. Pinderi Hills encompasses Elizabeth Hill, Australia’s highest-grade silver mine, and the Munni Munni intrusive complex, host to one of Australia’s largest undeveloped platinum group metal (PGM) resources (plus gold).

The independent review identified “significant potential” to build on the existing resource at Munni Munni. Geoscience Australia, a government backed organisation, also highlights the economic potential of Munni Munni, classing the intrusive complex as a high-priority area for nickel-copper-PGM sulphide deposits.

Alien is planning a soil sampling programme over a priority nickel-copper target at Munni Munni in the third quarter of 2024 and to further explore Elizabeth Hill, including base metal endowment around the high-grade silver core.

WHI View: Alien continues to advance its near-term, low capex, quick-to production Hanc0ck DSO iron ore project - Alien remains in discussion with various parties to secure development funding for Hanc0ck.

Today’s news builds on the recent announcement (RNS 01.05.24) detailing a joint venture for the lithium rights at Pinderi Hills – a project that is prospective for a range of in-demand commodities. The independent review reaffirms the economic potential of Pinderi Hills and planned fieldwork will investigate extensions of mineralisation around already defined resources and a historical mine.

We continue to see fair value at 2.7p.

Just need to listen to the last interview again:

https://www.youtube.com/watch?v=9u5DyNaRKOo

Everything is about to be JV'd.

“Alien has made the decision that we are not miners.

We are not going to fund these projects on our own going forward and as I said earlier, we have got a number of proposals on the table for both which are under review.”

I would be happy if we developed Hanc0ck independently, but the optimal outcome for the Development Study would be doing a JV with MinRes (Miscellaneous Licence for haul road unlocks their stranded 124Mt deposit) and using REGROUP as the contractor.

Michael Still Managing Director REGROUP posted on Linkedin:

"Congratulations to our client Mineral Resources Limited achieving first ore on ship ahead of schedule. Massive effort by the REGROUP team in both construction and delivery of first ore to port. It’s nice to have such a good client in who have welcomed us in from the start."

https://www.linkedin.com/in/michael-still-a110a885/recent-activity/all/

Anything we lose in percentage of the project would be made up by exploring the remaining 95% of Hanc0ck/Mallina which remain unexplored.

Plus the increased scale with MinRes also shipping from Sirius, means much lower opex and thus higher profit margin.

Then it opens up UFO's West Pilbara Hub - Vivash & Brockman (est exploration target 233Mt) and shipping out of MinRes Onslow West Pilbara Hub.

Rob Mosig has been working on Munni Munni & Elizabeth Hill JV.

IMO news very soon on this with a Rob interview.

JV's galore!

Yes Vosgi. There is almost a bright flashing neon light on Pinderi Hills on the Fig.1 Geoscience Australia map.

JV deal on "the Company has fast-tracked plans to develop the Elizabeth Hills Silver Mine" will blow the bloody doors off during current silver bull market with prices above $30 and going to $50.

Very exciting.

The timeline for Pinderi Hills on page 26 of last year's Corp Presentation stated:

Strategic partnering process - Starting from Q3.

https://www.alienmetals.uk/wp-content/uploads/Coprorate-Slide-Deck-Dec-23.pdf

After today's RNS, this is ahead of schedule and JV deal will be announced very soon & work will start Q3.

Plus "the Company has fast-tracked plans to develop the Elizabeth Hills Silver Mine".

This is why it's been so quiet on Elizabeth Hill!

"the Company is confident that the resources at Pinderi Hills can be significantly expanded and could potentially host a Tier 1 Precious Metals and Ni-Cu project.

The Australian Government-backed Geoscience Australia 2016 report highlights the Munni Munni Intrusive Complex as a high-priority area for a world-class ultramafic hosted Ni-Cu-PGE Sulphide deposit.

The Company is planning exploration activities to take place in Q3 2024.

Alien will commence by undertaking soil geochemical surveys over the main Ni-Cu target areas and Judy's Reef PGM trends."

23rd May RNS stated:

"Alien Metals engaged consultants to review the Munni Munni PGM project during the period with a view to potential joint venture funding to enable the project to progress.

Alien Metals newly appointed Board member, Robert Mosig, has intimate knowledge of this project and will assist in development of plans to extract value."

JV deal coming very soon. Plus hopefully a Rob Mosig interview :)

"📢 @AlienMetals is pleased to release an update on recent activities and exploration works planned for

later this year at Pinderi Hills #silver and precious metals project and the Hanc0ck Iron Ore Project."

https://x.com/AlienMetals/status/1796120110555414577

Independent review of Silver & Ni-PGM's at Pinderi Hills, Australia

Exploration is set to commence with an experienced technical team engaged

https://www.londonstockexchange.com/news-article/UFO/independent-review-at-pinderi-hills/16495385

Alwyn said contractors will mobilise & start construction in July/August.

If you look at Fenix they declared FID and commenced site works both in September 2020, then announced 1st production December 2020.

We are still in May!!

China's BYD New Hybrid Cars: Ultra-Long 2,000 km Range For Under $14,000:

https://www.youtube.com/watch?v=GPmQo5c505I

Hybrids are the perfect transition until significant power grid upgrades and charging infrastructure rolled out across the globe.

Thankfully UFO owns one of Australia's largest high-grade primary PGM deposits (30x rarer than gold) in situ US$2.8bn open at depth & along strike with Mining Lease, Grid Power & Infrastructure in place in Tier1 (not S.Africa where EFF wants to nationalise all mines and not in Russia!).

Silver at an all time high in India & Industrial Metals Are Expected To Make Higher Highs In June | CNBC TV18:

https://www.youtube.com/watch?v=7Oi5yO-1x0c

With $30 silver now as support (not resistance) UFO has become dirt cheap with just Elizabeth Hill alone.

SP will keep moving up from here.

Yep, back to NT to buy for me. Very difficult to accumulate.

Iron Ore futures poised for second weekly gain

https://x.com/Directors Talk/status/1794004426786791461

They lose their performance rights, but keep Options it seems. Rod's Options exercise price start at 0.80p and go up to 1.40p. Lets hope SP blows past 1.40p soon so that he can be in the money to exercise.

I will have to look into more detail later, but the figure is in $, not £ as someone mentioned earlier.

Troy must have been an expensive hire. He assumed CEO duties from beginning of 2023.

Makes sense to have let him go once it was just a waiting game for permits. Good call on team for this.

Industry player Alwyn also must have been very expensive. Good that he has now stepped back from full-time to part-time professional fees.

Yes it would be good to get some cash for the Mexico projects. The write down will also help with tax for next year.

In the interview Alwyn said, after Mining Lease, then the ground clearance permits, if all the right steps taken must be procedural. Will be fully permitted in June.

MinRes are about to get a lot of cash for selling half their haul road and are now making huge FCF on their Onslow shipments.

They pulled out their $200m bid with Gina for Azure and saved that cash. Makes sense for him to buy up the rest of the tenements in Karratha for a fraction of that amount.

The Lithium processing hub will be ideal :)))

@smiller. For the Development Study to work optimally we would need to do a deal with MinRes regarding the Sirius Extension.

It's in MinRes's interest to do a deal, since it would mean it would unlock their stranded 124Mt Sirius deposit.

My only concern was that I thought MinRes would want to use their own people, and that might not fit with our contractor being REGROUP.

Now we find out that MinRes is using REGROUP!

Therefore, the Development Study is good to go. Just waiting on final environmental approval.

MinRes will be our JV partner.

Then you add our West Pilbara Hub which is closer to port with lower opex and massive potential resource (Brockman est exploration target 233Mt).

All makes perfect sense now.

Re-rate on this deal will be massive.

But anyway, I'm not going to make a bid deal of it. Will wait for it to play out.

Cheers Monochrome. REGROUP being the contractor for the MinRes Onslow West Pilbara Iron Ore Hub is the best bit of news I've read in years. Very exciting.

I just read a post Michael Still Managing Director REGROUP put on Linkedin:

"Congratulations to our client Mineral Resources Limited achieving first ore on ship ahead of schedule. Massive effort by the REGROUP team in both construction and delivery of first ore to port. It’s nice to have such a good client in who have welcomed us in from the start."

https://www.linkedin.com/in/michael-still-a110a885/recent-activity/all/

REGROUP are the contractor for the MinRes Onslow West Pilbara Iron Ore Hub!!

This is really fantastic news for UFO.

Just waiting for the final environmental permit at Hanc0ck due very soon and everything will kick off.

UFO West Pilbara Hub = Vivash Gorge & Brockman (est exploration target 233mt/US$27bn!).

Our Hanc0ck Miscellaneous Licence for haul road unlocks MinRes stranded 124mt Sirius deposit at 60.3% Fe.

No brainer strategic reciprocal unlocking.

This is either just coincidence, or absolute genius by the people putting these projects together + Munni Munni (first time in 30 years consolidated into a single coherent tenement with no more legal disputes dating back decades).

Potential is enormous.

Rob Mosig interview after JV announcement will be good.