RE: When can ufo sell WCS shares?16 Jun 2025 12:58
let's see whether christopher maiolo adds anymore to his update:
https://t.co/qiii8ufsxc
i’m writing this update from the han**** iron ore project site in western australia, where we are completing a targeted rock chip sampling program across our newly issued exploration leases. this exercise is designed to inform an updated exploration target over the newly acquired ground, which lies immediately adjacent to the defined jorc resource of 8.4mt @ 60% fe. it’s disciplined, data-driven work that sets a strong foundation for future development.
and while han**** remains front and centre of our near-term strategy, recent events on the silver side of the portfolio warrant equal attention. with silver prices hitting 13-year highs and preliminary drill results flowing in from elizabeth hill, this is an important moment to revisit our exposure to precious metals, and what that could mean for value going forward.
elizabeth hill: unlocking high-grade optionality
alien metals has a 12.1% equity stake in our joint venture partner, west coast silver ltd (asx: wce) and holds a 30% free-carried interest in the elizabeth hill silver project, operated by wce. the project is situated on a granted mining lease in a tier-1 jurisdiction and has historic production grades exceeding 2,000 g/t ag, a standout even by global standards.
drilling commenced in late may, as announced in our 30 may rns. the initial campaign targets extensions to known mineralisation and untested structural corridors identified during recent modelling. just two weeks later, we released the first pxrf results and they were great (11 june rns).
based on that stocks guy’s june review, our 12.1% equity holding in west coast silver and 30% direct interest in the project is now estimated to be worth £5.8 million. for context, alien’s current market capitalisation stands circa £8.4 million.
put plainly, our stake in a single joint venture, now backed by physical drill data is nearly the same value as alien’s entire public valuation. this disconnect won’t persist forever.
as lab assays are processed and additional holes are drilled, we expect the uk market to reprice the potential of elizabeth hill accordingly. for our part, we remain focused on disciplined capital deployment and continued technical de-risking, both here and across our broader portfolio.
closing thoughts
whilst han**** remains our priority, we’re encouraged by what we’re seeing at elizabeth hill, both in terms of physical results and broader market conditions. silver is performing strongly, and the value of our position in west coast silver is becoming increasingly difficult to overlook.
in my next update we’ll turn our attention to platinum group metals, where our munni munni project remains one of the largest undeveloped pgm resources in australia. we’ll share an update on market trends, exploration priorities, and how we’re positioning the asset in a shifting global landscape.
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