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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