What is your reason8 Sep 2020 01:55
The reason why I have been here is below. Archives for newbies.
https://www.google.co.uk/amp/s/www.proactiveinvestors.co.uk/companies/amp/news/905226
New board, new strategy, new projects, and new energy: Alien Metals Ltd (LON:UFO) is just emerging from a process of rebirth, following a changing of the guard at the top, and the difference is palpable.
Onto the scene bounds Richard Shemesian, a major backer of the reinvigorated Alien, and a man whom London investors may remember from the last mining boom, when he helped turn a lowly-rated iron ore Aim and ASX-listed vehicle called Aztec Resources into a A$300mln company that was able to sell out to the Chinese at just the right time.
Shemesian’s been cooling his heels somewhat since then, although he’s still involved with Artemis Resources (ASX:ARV), which he has just helped raise A$6mln and which is moving forward with exploration in, amongst other places, the Paterson Range.
Now he’s back in London though, having helped orchestrate a revitalisation and re-financing of Alien, and full of plans.
He’ll be helped along the way by new technical director Bill Brodie Good, who was appointed in July, and who brings a steady geological hand to the tiller - his impressive CV that boasts significant time at the top end of SRK among its many highlights.
Together they plan to transform Alien from the somewhat sleepy-eyed silver company it had ended up becoming under the tenure of the previous management, into an aggressive new acquisition vehicle that aims to hoover up opportunities in the mining sector as they arise.
Ah, you may say, but isn’t the mining sector lying heavily in the doldrums at the moment – what could possibly be done?
But it’s just when things seem at their worst that the smart money comes in. After all, from that point on, the only way is up.
So, is then safe to call the bottom of the cycle?
Anyone who makes such a call might risk being made hostage to fortune, but what is worth noting is that there are currently at least four mining companies trying to get listed on London either on Aim or on the Standard List at the moment, iron ore’s been strong all year, there’s a record-breaking gold price in Australia, and gold has been strong too in other currencies, and where gold goes so often does the rest of the junior mining sector follow.
Sign In
Follow the stocks
