Last checked at 7 Sep 2022 07:00
Trading Symbols
AIM: UFO
FWB: I3A1
7 September 2022
Alien Metals Ltd
("Alien" or "the Company")
Board Strengthened with Appointment of Roderick McIllree as Executive Chairman
Alien Metals Ltd ("Alien"), a UK listed global exploration and development company, is pleased to announce that the appointment of Mr. Roderick McIllree ("Rod") as Executive Chairman has now been completed with immediate effect. Accordingly, current Chairman, Dan Smith, becomes a Non-Executive Director.
Rod is an experienced mining executive, based in London, with a deep understanding of global finance, M&A, project management, international logistics and precious and base metal production. Rod was, until very recently, the founding Executive Chairman at AIM traded Bluejay Mining Plc where he built the company from inception. He is currently an Executive Director at Standard listed, More Acquisitions Plc.
As part of the appointment, the Company proposes to issue Rod a total of 230,000,000 warrants (representing approximately 4.83% of the Company's issued share capital) over the common shares of the Company ("Warrants") under the terms of the Company's EMI Share Option Plan, which also makes provision for the award of non-EMI share warrants, as set out below. Accordingly, under the UK Corporate Governance Code, which has been adopted by the Company, Rod will not be regarded as an independent director.
Number of Warrants | Exercise Price (Pence) | Exercisable from | Exercisable to |
55,000,000 | 0.8
| 6 months from issue | 4 years from issue |
55,000,000 | 1.0
| 12 months from issue | 4 years from issue |
60,000,000 | 1.2 | 12 months from issue | 4 years from issue |
60,000,000 | 1.4 | 12 months from issue | 4 years from issue |
Incoming Executive Chairman, Roderick McIllree stated:
"I look forward to working closely with the team at Alien. The near-term iron production in Western Australia is clearly the short-term focus. Finalising the last steps to production including offtake and finance will continue apace. However, what is becoming clear is there is significant unrecognised upside potential in addition to the upcoming start of iron ore production. Munni Munni and Elizabeth Hill are high-grade representations of two very rare types of mineralising events that both demonstrate the necessary characteristics required for significant metal accumulation. Work will now start in earnest on both projects in parallel with the continued move towards iron ore production in Western Australia".
Additional Information
As required under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies further disclosures are as follows.
Roderick (Rod) Claude McIllree, aged 48, has held the following directorships and/or partnerships in the past five years;
Current | Past |
RM Corporate Limited | Bluejay Mining PLC |
More Acquisitions PLC | Apollon Formuaries Ltd |
Apollon Formularies PLC | Kingsrose Mining Ltd |
White Flame Energy Ltd (formerly Greenland Gas & Oil Ltd) | Finland Investments Limited |
Greenland Gas & Oil A/S | Greenland Exploration Limited |
Millers Hill Pastoral Pty Ltd | |
Upper Mantle Investments Pty Ltd | |
Disko Exploration Limited | |
Dundas Titanium A/S | |
Nikkeli Greenland A/S |
There is no further information on Mr McIllree required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies.
For further information please visit the Company's website at www.alienmetals.uk, or contact:
Rod McIllree, Executive Chairman
Email: rcm@alienmetals.uk
Bill Brodie Good, CEO
Tel: +44 20 3811 2144
Beaumont Cornish Limited (Nomad)
James Biddle / Roland Cornish
www.beaumontcornish.com
Tel: +44 (0) 207 628 3396
WH Ireland Ltd
Harry Ansell / Katy Mitchell
Tel +44 (0) 207 220 1666
Yellow Jersey PR (Financial PR)
Sarah Hollins / James Lingfield
alienmetals@yellowjerseypr.com
Tel: +44 (0) 20 3004 9512
Notes to Editors;
Alien Metals Ltd is a mining exploration and development company listed on the AIM market of the London Stock Exchange (AIM: UFO). The Company's focus is on precious and base metal commodities, with its operations located in proven mining jurisdictions and it has embarked upon an acquisition-led strategy headed by a high-quality geological team to build a strong portfolio of diversified assets. In 2019, the Company acquired 51% of the Brockman and Hancock Ranges high-grade (Direct Shipping Ore) iron ore projects and executed an option agreement to increase its interest to 90% in August 2022.
The Company acquired 100% of the Elizabeth Hill Silver Project, which consists of the Elizabeth Hill Historic Silver Mine Mining Lease and the 115km2 exploration tenement around the mine.
In March 2022 the Company acquired 100% of the former joint venture interest in the Munni Munni Platinum Group Metals and Gold Project in the West Pilbara, Western Australia, one of Australia's major underexplored PGE and base metals projects. Munni Munni holds a historic deposit containing 2.2Moz 4E PGM: Palladium, Platinum, Gold, Rhodium.
The Company also holds two silver projects, San Celso and Los Campos, located in Zacatecas State, Mexico, Mexico's largest silver producing state, which produced over 190m Oz of silver in 2018 alone, accounting for 45% of the total silver production of Mexico for that year. The Company also holds a Copper Gold project in the same region, Donovan 2.