10th Jun 2021 13:55
Alien Metals Ltd - iron ore and silver projects in Australia and Mexico - Says it has been advised by Capstone Mining Corp of the termination of the earn-in agreement signed among Alien, Estrella de Plata, Capstone Mining Corp and Capstone Gold SA de CV. The pact relates to Alien's Donovan 2 copper-gold project in Mexico. Alien Metals will revert back to being the project operator and 100% owner as a result of the contract ending.
"Capstone have decided not to proceed with the exploration on Donovan 2, advising that their corporate strategy has shifted and also that they did not receive sufficient confidence from their maiden drilling recently completed on Donovan 2 to continue," says Alien Chief Executive & Technical Director Bill Good.
Capstone will provide Alien Metals with all technical data generated during its tenure along with a final report outlining its findings.
Current stock price: 0.98 pence, down 8.8% Thursday
Year-to-date change: down 22%
By Will Paige; [email protected]
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