News report on Alien MetalsNews Article
Alien Metals Shares Rise as Iron Ore Project Progresses, on Track
4:01am ET 6/1/2022 Dow Jones
By Jaime Llinares Taboada
Shares in Alien Metals Ltd. rose Wednesday after it said that the development of its Hancock iron ore project in Australia is progressing well and is on track to be shovel-ready by early 2023.
The AIM-listed minerals exploration company said that results of a metallurgical test work program highlighted the high-grade and low impurity nature of the deposit. This has allowed Alien to advance discussions with potential offtake partners which led to the delivery of marketing samples.
In addition, Alien said that it has been presented with a range of debt and equity funding options for the project, and that key approvals and permitting are advancing on schedule.
Shares at 0743 GMT were up 12% at 0.73 pence.
Write to Jaime Llinares Taboada at [email protected]; @JaimeLlinaresT
(END) Dow Jones Newswires
June 01, 2022 04:01 ET (08:01 GMT)
