TIDMUFO
RNS Number : 8231U
Alien Metals Limited
28 November 2023
Trading Symbols
AIM: UFO
FWB: I3A1
28 November 2023
Alien Metals Ltd
("Alien" or "the Company")
Memorandum of Understanding executed with Pilbara Ports
Authority for Iron Ore Exports
Alien Metals Ltd (AIM: UFO), a minerals exploration and
development company, is pleased to announce it has entered into a
conditional, non-binding Memorandum of Understanding ("MoU") with
Pilbara Ports to access its Utah Bulk Handling Facility ("Utah
Point"), multi-user berth in Port Hedland. The agreement is the
first important step in securing the formal commitment from Pilbara
Ports to export the iron ore produced by the Company's Hancock iron
ore Project.
Highlights:
-- Pilbara Ports and the Company's wholly owned subsidiary, Iron
Ore Company of Australia Pty Ltd ("IOCA"), entered into an MoU
-- Pilbara Ports operates in the Pilbara Region of Western
Australia, with the Port of Port Hedland as the largest bulk export
port in the world
-- The MoU paves the way for IOCA to access the common-use
stockpiles at Utah Point and export up to 1.25 million tonnes per
annum (mtpa) of Iron Ore from Q4 2024
-- IOCA is also pleased to announce that the next step in this
process has progressed to a point whereby Pilbara Ports and IOCA
have substantially agreed the terms of the binding agreement for
iron ore export through Utah Point. This agreement is subject to
the typical regulatory approvals
Troy Whittaker, Chief Executive Officer commented:
"The signing of the Port MoU and settling key terms of the
formal multi-user agreement are important steps as we continue to
secure the supply chain from development, operations and to the end
customer. We are confident Pilbara Ports has the capacity and
capability to handle our tonnage at the port and we are delighted
to have signed the MoU. We acknowledge Pilbara Ports efforts to
facilitate port access for miners such as IOCA and we look forward
to working closely with them as we finalise the the binding
agreement and seek the require regulatory approvals."
Further Information
The MoU paves the way for IOCA to access the common-use
stockpiles at Utah Point and export up to 1.25 million tonnes per
annum (mtpa) of Iron Ore from Q4 2024. The MOU is subject to
certain conditions, expires on 1 October 2024 and contains
agreement that the Company and Pilbara Ports will work towards
agreeing an agreement and licence which sets out the terms on which
Pilbara Ports would allow IOCA to have access to the Utah Point.
IOCA and the Pilbara Ports have substantially agreed the terms of
this agreement and it is subject to the typical regulatory
approvals.
Figure 1: Location of the Company's Iron Ore Projects, Western
Australia
Figure 2: Hancock Project Tenements
Figure 3: Utah Point, Multi User Berth at the Port of Port
Hedland
Figure 4: Utah Point, Multi User Berth at the Port of Port
Hedland
Figure 5: Port Hedland Port
For further information please visit the Company's website at
www.alienmetals.uk or contact:
Beaumont Cornish Limited (Nomad)
James Biddle / Roland Cornish Tel: +44 (0) 207 628 3396
WH Ireland Ltd
Harry Ansell / Katy Mitchell Tel +44 (0) 207 220 1666
Yellow Jersey PR (Financial PR)
Charles Goodwin / Shivantha Thambirajah / Soraya Jackson Tel: +44 (0) 20 3004 9512
alienmetals@yellowjerseypr.com
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Notes to Editors:
Alien Metals Ltd is a mineral exploration and development
Company listed on the AIM market of the London Stock Exchange (LSE:
UFO). The Company's focus is on delivering a near term direct
shipping iron ore operation at the Hancock Project in the Pilbara
region of Western Australia.
In 2019, the Company acquired 51% of the Brockman and Hancock
Ranges high-grade (Direct Shipping Ore) iron ore projects and in
December 2022 moved to 90% legal and beneficial ownership. In May
2023, the Company also acquired 100% of Mallina Exploration Pty Ltd
and with it, the Western Hancock Tenement. The new tenement adjoins
the Company's existing Hancock tenement, giving the entire Hancock
project direct access to the Great Northern Highway.
The Company also acquired 100% of the Vivash Gorge Iron Ore
project in the west Pilbara in July 2022.
The Company owns 100% of the Elizabeth Hill Silver Project,
which consists of the Elizabeth Hill Historic Mining Lease and the
115km(2) exploration tenement around the mine.
In March 2022 the Company acquired 100% of the former joint
venture interest in the broader Pinderi Hills tenement group in the
West Pilbara, Western Australia. This includes the Munni Munni
Platinum Group Metals Project, one of Australia's major
underexplored PGE and base metals projects. Munni Munni holds a
historic deposit containing 2.2Moz 4E PGM: Palladium, Platinum,
Gold, Rhodium. The Pinderi hills tenement group also has
significant Nickel and Copper prospectivity.
The Company also holds silver, copper and base metal projects in
Mexico, however is currently looking at the best way to divest
these for the benefit of shareholders.
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END
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