8th Oct 2026 15:45
Alien Metals Ltd - Australia-focused minerals exploration and development company - Enters formal documentation to extend the repayment date of its convertible loan facility with Bennelong Resource Capital Pty Ltd from December 31 to September 30. Says the amount available for drawdown under tranches 2 and 3 has been increased to AUD1.0 million. This provides "greater funding flexibility while it explores alternative sources of capital and/or pursues asset sales."
Also, Alien issues a quarterly corporate update. Says it is reviewing the optimal commercial pathway for its iron ore portfolio in Western Australia's Pilbara region. Will consider "continued low-cost technical advancement, joint venture or strategic partnership structures, and potential sale or other monetisation alternatives." Notes "renewed interest" in its iron ore projects, with market prices reaching around USD100 per tonne for direct shipping ore. Also notes that the Munni Munni PGM-copper project, of which it holds 30% via a joint venture with GreenTech Metals Ltd, hosts a historic resource of approximately 2.2 million ounces of platinum-group metals and gold. Says this has not yet been reported in accordance with the 2012 JORC Code, but expects this to be released in the fourth quarter. West Coast Silver Ltd, Alien's JV partner on the Elizabeth Hill Silver Project, is "undertaking exploration and technical programmes including drilling designed to expand the mineralised system and assess future development pathways."
Current stock price: 0.080 pence, up 23% on Thursday afternoon in London
12-month change: down 50%
By Emma Curzon, Alliance News reporter
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