Mécanisme de financement, nomination et mise à jour du conseil d'administration
CETTE ANNONCE CONTIENT DES INFORMATIONS PRINCIPALES AUX FINS DE L'ARTICLE 7 DU RÈGLEMENT SUR LES ABUS DE MARCHÉ (596/2014/UE), CAR CELLES-CI ONT ÉTÉ CONSERVÉES DANS LA LÉGISLATION DU ROYAUME-UNI TEL QUE MODIFIÉE PAR LE RÈGLEMENT SUR LES ABUS DE MARCHÉ (AMENDEMENT) (SORTIE DE L'UE) (SI 2019/ 310). Dès la publication de cette annonce, ces informations privilégiées sont désormais considérées comme appartenant au domaine public.
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Commerce Symboles
OBJECTIF : OVNI
FWB : I3A1
15 Mars 2024
Métaux Alien Ltée
("Alien Metals" ou "la Société")
Funding Facility of up to A$2 million
Board Appointment and Project Update
Métaux extraterrestres (AIM : UFO), une société axée sur l'exploration et le développement du projet de minerai de fer Hancock ("Projet Hancock") and the Pinderi Hills project in Western Australia, advises that it has entered a short-term funding facility on terms outlined below and continues to progress project development across its diversified resource portfolio.
Vue d’ensemble
? A funding package of up to A$2m has been made available through a convertible loan note (the "Facilité" au sein de l’ "Note") as detailed below.
? The Facility will meet short-term capital requirements and contribute towards exploration and the ongoing review of strategic funding options to maximise value for the Company's shareholders and stakeholders, including:
o Considering various longer-term financing options, including continued discussions with strategic partners regarding offtake funding, debt, and equity project funding in connection with the Hancock Project and the Pinderi Hills PGM, silver and base metals project; and
o Actively exploring the potential for the sale or joint venture of non-core assets providing further funding for the Company.
? Appointment of Technical Director, Mr. Rob Mosig, to the Board as a Non-Executive Director, who brings significant expertise in exploration, development, and strategic partnering, whilst having direct experience on the Company's PGM and base metals project in the West Pilbara. Following Rob's appointment, Mr. Alwyn Vorster has stepped down from the Board to focus on his other directorships and business commitments. Alwyn will continue to assist Alien Metals as an advisor to the Board on the Hancock Project development.
? The Company has further strengthened its iron ore team with the appointment of an iron ore expert from global mining consulting firm CSA Global (now ERM). CSA Global has extensive iron ore exploration and development expertise, including significant roles with Fenix Resources Ltd (ASX: FEX), which transformed from an iron ore explorer to a producer within 18 months.
? An Advisory Board is to be established, consisting of technical and mining industry experts to guide the Company on the various strategic options currently available to Alien Metals for the financing and/or development of its key assets.
? The project and technical team will continue to focus on the Hancock Project, progressing exploration to increase the resources and reserves as set out in the Development Study on (AIM: 8 Février 2024). The study demonstrated strong economic returns from the Hancock Project, as outlined below.
Guy Robertson, directeur général, a commenté :
"It is our objective to unlock the value of the Hancock iron ore project, where we have recently received positive interest from potential joint venture partners following the results of the Development Study.
"The funding announced today will provide additional capital to the Company to continue the exploration of our projects, while we explore and progress negotiations with various potential funding partners for the Hancock Project.
"We are delighted to welcome Rob Mosig to the Board who has over 40 years of experience in mineral exploration projects, including direct experience with Alien's Pilbara PGM and battery metals projects. The board thanks Alwyn Vorster for his contribution and ongoing support as a senior adviser, assisting the Company's strategic options in the iron ore portfolio."
Détails du financement
The Company is considering various proposals to progress the development of the Hancock Project, including funding through joint ventures, project financiers such as offtake funding, debt, and equity funding from strategic investors and the sale of non-core assets.
As work progresses on the various mining approvals and exploration development work at the Hancock Project, the Company has finalised the Facility of up to A$2m with a long-term major shareholder.
The Board is grateful for the support of all its shareholders and believes there is a significant opportunity to unlock the value of the Company's assets in the near term.
Information on the Facility
? Prêteur: Bennelong Resource Capital Pty Limited, a shareholder in the Company, with a current holding of 7.2%.
? Titres convertibles : Convertible securities of up to A$2,000,000 (Titres Convertibles), to be drawn in three tranches: Tranche 1: A$1,000,000, Tranche 2: A$500,000, and Tranche 3: A$500,000.
? Valeur nominale et prix d'achat : A$1 per Convertible Security.
? Availability Period for drawdown: Mois 12.
? Commitment Fee and Establishment Fee: 3% of the maximum amount of the Facility, being A$60,000, and A$10,000 respectively, each to be deducted from Tranche 1.
? Bons de souscription : 25,000,000 warrants to subscribe for one ordinary share in the capital of the Company ("Ordinary Share"), each with a strike price of a 25% premium to the 10-day VWAP prior to the date of the deed, being 0.18p, and an expiry date 36 months after the date of issue. These Commitment Warrants must be issued to the Lender within three Business Days after the condition to drawdown of the Facility has been satisfied.
? Intérêts: SOFR (Secured Overnight Financing Rate) (being circa 5.3% as at the date of this announcement) plus 10% per annum, to be paid at the end of each fiscal quarter.
? Date de remboursement : 12 months or a later date as agreed between the Company and the Noteholder, unless (i) a party other than the noteholder acquires 50% or more of the Company's shares or (ii) an event of default occurs, in which case the notes shall be repayable on the relevant event occurrence.
? Prix de conversion : the balance due under the Facility (including accrued interest at the end of each fiscal quarter) can be converted into Ordinary Shares at the option of the Lender at the lower of:
(a) 85% of the VWAP over the ten trading days prior to the date of the Facility, converted into $A at the average of the daily £/A$ exchange rate published by the Reserve Bank of Australia over that period; or
(b) the price per Ordinary Share offered by the Company in any equity capital raising offered between the date of the deed and the Repayment Date, converted into A$ at the average of the £/A$ exchange rate published by the Reserve Bank of Australia over the five business days before settlement of that raising.
For each Ordinary Share issued to the Lender pursuant to this conversion right, the Lender will at the same time also be issued one Conversion Warrant (see below for the terms applicable to each Conversion Warrant).
? Bons de souscription de conversion : means a warrant to subscribe for one Ordinary Share expiring 36 months from the date of issue, each of which will have a strike price equal to the lower of 125% of the VWAP over the then 10 trading days prior to:
(a) the date of the deed, being 0.18p; and
(b) the date on which the respective conversion notice is given to the Company,
The warrants are transferrable.
? Prime de rachat : means an amount equal to:
(a) the principal sum outstanding paid by the Company to redeem the Notes (or any number of them); plus
(b) the percentage that is the same percentage by which the amount of the VWAP (over the 10 trading days prior to the date of this deed) exceeds the issue price of Ordinary Shares under the first equity raising of Ordinary Shares that occurs after the date of the deed (if any) over the ten trading days prior to the announcement of the capital raising, but not greater than 20%, and in any event (including regardless of whether an equity raising has occurred) not less than 10%, on the principal sum outstanding.
· Frais de retrait: 2% of the facility limit in the event of withdrawal i.e. where the Company advises the noteholder it does not wish to avail itself of Tranche 1 and Tranche 2 of the facility, then 2% of Tranche 1 and 2, but not Tranche 3, unless by agreement.
· Structure de retrait : Tranche 1 within five days of notice. Tranche 2 subject to the Company announcing its Annual Report for the year ended 31 December 2023 and Tranche 3 is conditional upon agreement between Company and the Lender of (i) the Company's budget for the financial year ended 31 December 2024 and (ii) a form of security to be granted over the assets of the Company (or members of its group).
· Transférabilité: the notes are freely transferrable.
· Undertakings of the Company: the Company has given a number of customary undertakings to the Lender in relation to the operation of its business, and the provision of financial and management information regularly. In particular, key decisions will require the approval of the Lender.
It is agreed that the Lender will not convert any amounts outstanding under the Facility or exercise any Conversion Warrants such the conversion or exercise, respectively, would result in the Lender together with anyone in concert with it holding more than 29.9% of the then enlarged share capital of the Company.
If the Lender's shareholding exceeds 20% of the Company's share capital as a result of conversion of any amount outstanding under the Facility or following an exercise of Conversion Warrants, it will negotiate in good faith entering into a relationship agreement with the Company and the Nominated Adviser from time to time containing customary provisions and protections as is usual for an AIM company.
The funds raised under the Facility will be used for general short-term working capital needs and further progressing towards the grant of a mining lease in respect of the Hancock Project and further exploration targets recently identified as set out in the Company's Development Study on (AIM: 8 Février 2024).
Company Update and Project Outlook
New Board Appointment
The appointment of Technical Director, Rob Mosig, to the board will add significant exploration, development, and strategic partnering expertise. Rob will be assisting the Company's management team in prioritising key exploration and development activities across the Company's portfolio.
Rob was the founding Managing Director of Helix Resources Limited from 1986 to 2006 and the Managing Director of Platina Resources Limited from 2006 to 2018. Rob was instrumental in introducing Lonmin plc, a major platinum and palladium producer as a joint venture partner in the Munni Munni project in the late 1990's.
Rob's in-depth knowledge of Western Australia, and in particular the Munni Munni platinum group metals and Elizabeth Hills Silver projects will be invaluable as the Company examines options to unlock the value of the projects.
Rob has over 40 years of experience in the mining and exploration industry after receiving a Master of Science from Monash University and is a Fellow of AusIMM.
As a result of the Board changes, Guy Robertson will resume his position as Executive Chairman on an interim basis, assisting the Company with funding and financing options, along with the recruitment of additional key management personnel to progress the Company's projects. At the same time, Elizabeth Henson, Non-Executive Director, will assume the role of Senior independent Non-Executive Director.
AIM Rules for Companies: Schedule Two Paragraph (g) Disclosures
As required pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies, the Company confirms that Rob Mosig, aged 73, is, save for Alien Metals, currently a director/partner, or has been a director/partner in the past five years, of the following companies/partnerships:
Mandats/Partenariats actuels | Past Directorships/Partnerships (held in last five years) |
Javelin Minerals Limited | Future Metals T.-N.-L. |
Mantle Minerals Limited | Rodinia Resources Pty Ltd |
Colter Investment Holdings Pty Ltd | Volcanic Metals Ltd |
There is no further information to be disclosed pursuant to Rule 17 and Schedule Two Paragraph (g) of the AIM Rules for Companies.
Mise à jour du projet et des permis
The Board believes that the Company's recent Development Study demonstrates that the Hancock Project has the potential to become an iron ore mine in Western Australia. The key highlights and developments of the Project, as more fully described in the Company's announcement on (OBJECTIF: 8 Février 2024) consistent à
· Execution of the Mining Agreement with the Traditional Owners, Karlka Nyiyaparli Aboriginal Corporation, paving the way for mining approvals.
· A significant high-grade (60%+ Fe) resource with the potential to significantly increase the resource and reserves:
o MRE of 8.4Mt@ 60% Fe JORC Mineral Resource, including an upgraded Indicated Resource of 4.5Mt@ 60.2% Fe.
· Low cost, dig, truck and ship (no beneficiation or processing required other than crushing)
· Sur la base de 8 Mt de ressources minérales converties en inventaire minier, les solides données financières du projet du scénario de base ont produit ce qui suit :
o An average annualised EBITDA of A$39m
o A pre-tax NPV10 of A$146m and a pre-tax IRR of 133%
o Taux de production de 1.25 Mtpa
o Coût en capital de développement initial de 28 millions de dollars australiens
· Ore processing will utilise a plant capable of producing 1.25Mt to 1.5Mt of 100% fines product per annum on a single shift basis. Sprint capacity of the plant working on a double shift basis is up to 3.0Mt per annum.
· Reduction in costs will be achieved through the proximity to the mining town of Newman. The close vicinity allows the Company to avoid extensive construction capital costs associated with airstrip, mining camp and associated services.
· Provisional export capacity through the Port of Port Hedland has been secured (MoU executed) and remains on track for final approvals during the first half of 2024.
The Company has made significant progress on the Hancock Project and is currently in discussion with various parties regarding the required development funding. In the interim, the technical team will focus on securing all relevant approvals required for mining at the same time assessing strategies with the Company's technical experts to increase the existing resources and reserves which is expected to significantly increase the value of the project.
Pour plus d'informations, veuillez visiter le site Web de la société à l'adresse www.alienmetals.uk ou communiquez avec:
Strand Hanson (Conseiller financier et désigné)
James Harris / James Dance / Robert Collins Tel: +44 (0) 207409 3494
WH Irlande Ltd (Broker)
Harry Ansell / Katy Mitchell Tel: +44 (0) 207 220 1666
Maillot Jaune (RP Financier)
Charles Goodwin / Shivantha Thambirajah / Soraya Jackson Tél : +44 (0) 20 3004 9512
Notes aux rédacteurs
Alien Metals Ltd est une société d'exploration et de développement minier cotée sur le marché AIM de la Bourse de Londres (AIM : UFO). L'objectif de la société est de réaliser une exploitation rentable de minerai de fer à expédition directe à partir de son projet de minerai de fer Hancock à 90 % dans la région centrale de Pilbara, en Australie occidentale. Les immeubles Hancock contiennent actuellement une ressource conforme au JORC de 8.4 Mt de minerai de fer à 60 % Fe et offre un potentiel d'exploration significatif qui vise à fournir une opération minière de 2 Mtpa pendant 10 ans.
Ces immeubles avoir un accès direct à la Great Northern Highway, qui constitue une route d'exportation essentielle vers les installations d'exportation de Port Hedland, d'où plus de 500 millions de tonnes de minerai de fer sont exportées chaque année (30 % de la production mondiale). La Société détient également une participation dans deux projets d'exploration de minerai de fer Brockman et Vivash, situés dans l'ouest du Pilbara.
La société est propriétaire du projet Elizabeth Hill Silver, situé près de Karratha dans le Pilbara, qui comprend le bail minier Elizabeth Hill et les concessions d'exploration entourant la mine d'argent historique. which has produced some of Australia's highest-grade silver ore during the late 1990's. The Company also owns one of Australia's largest PGM deposits, Munni Munni which hosts a deposit containing a historic resource of 2.2Moz PGM (Palladium, Platinum, Gold, and Rhodium).
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