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

Alien yesterday detailed the outcome of an extensive data review of the Hamersley Iron Ore Projects, including the generation of Maiden Exploration Targets and proposed next step exploration plans.

Fieldwork was undertaken last year replicated the high-grade Direct Shipping Ore (‘DSO’) results previously recorded at the 51%-owned Brockman and Hancock Ranges projects, leaving Alien’s next objectives to carry out further exploration work, including a maiden drilling programme with a view to converting the Exploration Targets into JORC-compliant resources.

With iron ore prices presently hitting multi-year highs as demand soars on the back of government stimulus and expectation of significant post-Pandemic infrastructure investment, combined with related supply concerns that continue to plague Brazil’s highly productive mining regions, this work could add further value to the Group’s exploration portfolio.

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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 © 2019 Turner Pope Investments (TPI) Limited, all rights reserved.

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