Last checked at 28 Jul 2022 12:21
Trading Symbols
AIM: UFO
FWB: I3A1
28 July 2022
Alien Metals Ltd
("Alien" or "the Company")
Board and Management changes and
Results of Annual General Meeting ("AGM")
Alien Metals Ltd (LSE AIM:UFO), a global minerals exploration and development company, advises that with immediate effect, Mr Roderick ("Rod") McIllree will join the Company as Executive Chairman (elect), until his formal appointment subject to normal director onboarding procedures, including regulatory approval. Until such time, Mr McIllree will be engaged as a consultant to work with the Company's board to undertake a strategic review and detailed assessment of how to unlock the value of what is a portfolio of very stable and significant metal projects, worldwide.
In conjunction with the proposed appointment of Rod, Bill Brodie Good ("Bill") stepped down as a director of the Company with immediate effect. Bill will remain as a non-board CEO to focus on operational matters, primarily in completing the final studies and permits required to start production at the Company's high-grade Hancock Iron Ore Project in Western Australia. Accordingly, resolution 3 at the Company's AGM held today was withdrawn. All other resolutions proposed at the AGM were passed on a poll by the requisite majority.
Rod is a recognised senior mining executive based in London with 25 years of understanding in M&A, project generation, project management, international logistics, global finance as well as precious and base metal production. Rod was most recently Executive Chairman of AIM listed Bluejay Mining plc where he oversaw the significant growth and development of the company and is currently an Executive Director at More Acquisitions Plc.
As part of the board and management restructure, Mr Dan Smith will step down as Chairman but remain as a non-executive director upon Rod's appointment.
The Company will keep shareholders updated throughout the strategic review process.
Commenting on the proposed appointment of Mr McIllree, Chairman Dan Smith said: "We look forward to welcoming someone of Rod's calibre to the board of Alien. Having recently retired from Bluejay Mining Plc where he built the company from shell value in 2015 to what it is today, he has a demonstrably track-record in restructuring, reorganising and value creation. We look forward to the upcoming review process of the Company's portfolio which includes Munni Munni PGE, Elizabeth Hill, and the Brockman and Hancock iron ore projects. We thank Bill for his time leading Alien in what has been a period of significant progress and am pleased he will remain with the Company to continue that work.'
Executive chairman elect, Mr McIllree stated: "Alien's portfolio is impressive. I look forward to sharing with all stakeholders the results of the review. The Company has amassed a multi commodity suite of very interesting assets at various stages of development with Hancock and Munni Munni being the clear stand outs. This is the first time in several generations Munni Munni has been owned 100% at the licence level after settlement of multiple long running legal disputes dating back decades in regard to ownership. It's a credit to Bill, the board and the rest of the team that they were able to acquire and move forward a portfolio of quality projects such as this. I look forward to working with Bill and the team as we now focus on completion of the BFS and final permitting for production at Hancock."
For further information please visit the Company's website at www.alienmetals.uk, or contact:
Alien Metals Limited
Dan Smith, Non-executive Chairman
Email: dsmith@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
Turner Pope Investments (TPI) Limited (Joint Broker)
Andrew Thacker / James Pope
Tel: +44 (0) 20 3657 0050
WH Ireland Ltd (Joint Broker)
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 (LSE: 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 with a conditional agreement to increase its interest to 90% in May 2021 also being put in place. The Company also acquired 100% the Vivash Gorge Iron Ore Project from Zenith Minerals in May 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. 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.
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 PGM3: Palladium, Platinum, Gold, Rhodium.