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

Alien has announced its conditional raising of £1.25m (gross) in a Placing and Subscription (‘the Placing’) of c.227.3m new ordinary shares at a price (‘the Placing Price’) of 0.55p per share.

Subject to lockdown restrictions, the proceeds will be utilised to pursue maiden drilling programmes on the Group’s Mexican San Celso and Los Campos Silver projects while also fasttracking its operations in Australia, including the Hamersley Iron Ore projects and the high-grade Elizabeth Hill Silver Project acquisition which is due to complete shortly.

With prices of both metals recently hitting multiyear highs as demand soars on the back of both aggressive monetary policy and governmental stimulus boosting expectation of significant post-pandemic infrastructure investment, Alien’s share price could now also start to anticipate potential for high-impact results across 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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