IN BRIEF: Alien Metals partner West Coast Silver raises A$3.2 million

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Alien Metals Ltd - London-based mining firm focused on Australia - Joint venture partner West Coast Silver Ltd secures firm commitments to raise A$3.2 million, about £1.6 million, through a share placement to both existing and new institutional and professional investors. Alien says it will have an 8.7% stake in West Coast Silver following the equity raise, which is expected to complete next week. The fresh funds will go toward exploration at Elizabeth Hill in Western Australia and to ‘progress regional target evaluation across West Coast’s consolidated project area’, Alien says.

Current stock price: 0.14 pence, up 7.7% on Wednesday morning in London

12-month change: up 56%

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