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Alien Metals Ltd - mineral exploration and development company with assets in Australia, Mexico and Greenland - Renegotiates agreement with Mallina Exploration Pty Ltd to fast track the acquisition of the E 47/3752 tenement that adjoins its flagship Hancock iron ore project in Australia and provides direct strategic access to the Great Northern Highway. Says the key terms of the agreement remain largely unchanged from that of the original agreement; negotiates the removal of the condition precedent relating to exploration drilling to earn the tenement interest. Says removal of this condition precedent allows it to focus on sterilisation drilling across the E 47/3752 licence to enable access road construction.
Executive Director Rod McIllree says on the renegotiation: ‘I am pleased...we have...consolidated our tenement holding in and around Hancock. Fast tracking this provides us with a strategic advantage in progressing our project timeline and additionally provides further exploration upside, allowing us to expand the footprint of known targets.’
Current stock price: 0.48 pence, up 0.8%
12-month change: down 34%
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