TPI provides its latest research note on Alien Metals Limited (UFO.L)

Alien has released a much-anticipated update on its Hancock Iron Ore Project (‘the Project’) in the Pilbara region of Western Australia.

Initial assay results from the second phase of resource drilling have demonstrated significant widths of direct shipping ore (‘DSO’) grade intersections at the Sirius Extension from surface, all of which point to a contiguous grade deposit. With the Project potentially firming up as a standalone operation, selected results include 47m @ 61.50 % Fe from 2m from hole AM21RC002 001 and 78m @ 61.20 % Fe in hole AM21RC002 002 from 1m highlight the scale of the opportunity.

Having now defined continuous DSO grade iron ore over a strike length of 350 metres at the Sirius Extension alone, once all laboratory results are available management will have sufficient data to calculate a maiden JORC resource for the prospect.
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We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to Alien Metals Limited. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

Copyright © 2021 Turner Pope Investments (TPI) Limited, all rights reserved.

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