TIDMUFO
RNS Number : 7116K
Alien Metals Limited
30 August 2023
Trading Symbols
AIM: UFO
FWB: I3A1
30 August 2023
Alien Metals Ltd
("Alien" or "the Company")
Preferred Crushing and Screening Contractor Secured
Alien Metals Ltd (AIM: UFO), a global minerals exploration and
development company, is pleased to announce that its wholly-owned
subsidiary Iron Ore Company of Australia Pty Ltd ("IOCA") has
selected Rapid Crushing & Screening Contractors Pty Ltd ("Rapid
Crushing") as its preferred supplier to undertake the crushing and
screening operations at the flagship Hancock Iron Ore Project
("Hancock" or the "Project") in the Pilbara region of Western
Australia.
IOCA has conducted a competitive market engagement over the
previous six months to identify commercially and technically adept
contractors to undertake works as part of the Hancock development
and operations. This process has involved pre-qualified and
targeted proponents, submitting bids for specific scopes of works
and agreeing to key commercial terms.
Rapid Crushing is a market leader in Iron Ore, having previously
worked with Pilbara Iron Ore giants, Fortescue Metals Group and
they are the incumbent contractor at Galaxy Lithium for the past
six years, with that work continuing. The selection of Rapid
Crushing for crushing services reinforces the assumptions made
within the Scoping Study to deliver a C1 cost of approximately
US$60 per tonne ("/t").
Highlights
-- Rapid Crushing is one of the largest, privately and
independently owned crushing contractors in Australia.
-- Rapid Crushing is a well-known, established and regarded
market leader with extensive experience in Iron Ore and other hard
rock mining.
-- IOCA has secured costs for crushing and screening at a fixed price per tonne produced.
-- The pricing submitted by Rapid Crushing supports and is
consistent with the assumptions made by the Scoping Study to
deliver a C1 cost of approximately US$60/t.
-- The selection of Rapid Crushing paves the way to finalise the
updates to the financial model as the Company continues to progress
the remaining studies and regulatory workstreams required for a
final investment decision for the Hancock Project.
-- The selection of Rapid Crushing validates the Company's
primary procurement efforts and Rapid Contracting is the last key
contractor to be selected. There are only ancillary packages that
remain.
-- The award of this contract remains subject to the completion
of a positive Definitive Feasibility Study ("DFS"), approvals,
funding and the Board making a final investment decision.
Troy Whittaker, Chief Executive Officer, commented:
"We are pleased to announce that Rapid Crushing has been
selected as the preferred tenderer for crushing and screening
operations at our Hancock Project. Rapid Crushing's significant
hard rock mining knowledge and experience, particularly in iron
ore, will be of great benefit to our overall operations.
"We will be working closely with Rapid Crushing to finalise
optimisation activities that support the accelerated DFS work
streams related to price opportunity as we prepare and execute the
contractual documents.
"The selection of Rapid Crushing finalises the material
procurement efforts for the Project. This will result in a high
level of validated and secured costing for the Hancock
Project."
Further Information
Figure 1: Location of Hancock Iron Ore Project, Western
Australia
Figure 2: Proposed Crushing & Screening Plant
For further information please visit the Company's website at
www.alienmetals.uk, or contact:
Alien Metals Limited Troy Whittaker
T: +44 (0) 20 7138 3204 (c/o BlytheRay)
Beaumont Cornish Limited (Nomad)
James Biddle / Roland Cornish
Tel: +44 (0) 207 628 3396
WH Ireland Ltd (Joint Broker)
Harry Ansell / Katy Mitchell
Tel +44 (0) 207 220 1666
BlytheRay (Financial PR)
Tim Blythe / Megan Ray / Said Izagaren
Tel: +44 (0) 20 7138 3204
Notes to Editors:
Alien Metals Ltd is a mining exploration and development Company
listed on the AIM market of the London Stock Exchange (LSE: UFO).
The Company's focus is on delivering a profitable, long life direct
shipping iron ore operation based out of the Pilbara in 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.
The Company also acquired 100% of the Vivash Gorge Iron Ore project
in the west Pilbara in July 2022.
The Company acquired 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 Munni Munni Platinum Group Metals and Gold
Project in the West Pilbara, Western Australia, 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 Company also holds silver, copper and base metal projects in
various locations around the world however is currently looking at
the best way to divest these for the benefit of shareholders.
Definitions
C1 Cost: direct costs, which include costs incurred in mining
and processing (labour, power, materials), transport and loading
onto a vessel, general overheads.
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