Alien Metals Limited
UFO · AIM · Basic Resources · mcap £6.8m · 0.1p 4 open situations →
- EV
- £6.1m
- EV / EBIT
- –
- Net cash
- £693k
- FCF yield
- -27.5%
- Revenue
- –
- Share price 1y
- −59%
- Insiders 12m
- no deals
- Next report
- around 8 Jun
Open · 4
Bennelong funding facility refinancing
Includes Munni Munni 70% disposal to GreenTech – Completed; joint venture formed, closed 2 Feb 2026
The Bennelong convertible facility was partly converted in Dec 2025. The 30 Sep 2026 results say about A$400,000 remains and the Company expects to extend its repayment date to 30 Sep 2027. Tranches 2 and 3 drawdown would rise to A$1.0m, with a further announcement due.
- Balance
- circa A$400,000 outstanding under the convertible loan facility 30 Sep 2026 ↗
- New repayment date
- 30 September 2027 (expected) 30 Sep 2026 ↗
- Tranches 2 and 3
- Funds available for drawdown to increase to A$1.0 million 30 Sep 2026 ↗
- Next step
- Further announcement on the amendment 'in due course' 30 Sep 2026 ↗
Next: Announce amendment to Bennelong facility
- 30 Sep 2026 Extension to Sep 2027 and larger drawdown expected shortly
- 11 Dec 2025 Partly converted; repayment extended; ~£400k remains
Portfolio review and monetisation
Follows from Board and management reshuffle – Garlick gone; Fayad also chairs West Coast Silver
New management began a portfolio-wide review on 3 Aug 2026, putting Pilbara iron ore monetisation first for funding. With the 30 Jun 2026 interims on 30 Sep 2026, Alien disclosed an indicative, non-binding offer for the Pilbara portfolio, with terms under negotiation. It also booked a US$6.7m non-cash Hancock impairment.
- Equity raise
- Not presently intended; no assurance one will not be needed 3 Aug 2026 ↗
- Listed stakes
- GreenTech c.A$2.3m, West Coast Silver c.A$3.0m; sale is the least preferred funding option 3 Aug 2026 ↗
- Iron ore
- Talks begun with interested third parties on JV or sale; DSO price US$98.3/t on 29 Jul 2026 3 Aug 2026 ↗
- Georgina Basin
- Review SRK report, set drill programme; larger programme funded by leveraging or realising existing assets 3 Aug 2026 ↗
- Offer
- Indicative, non-binding offer for the Pilbara Iron Ore Portfolio; buyer and price not disclosed 30 Sep 2026 ↗
- Status
- Terms under negotiation; no certainty a transaction will complete 30 Sep 2026 ↗
Next: Negotiate terms of indicative offer for Pilbara iron ore portfolio
- 30 Sep 2026 Indicative non-binding offer for Pilbara portfolio received
- 3 Aug 2026 Portfolio-wide review begun under new management
Elizabeth Hill silver drilling
JV partner West Coast Silver reported native silver in Nov 2025 and bonanza Phase 2 diamond results on 4 Feb 2026. A 2.8Moz maiden JORC resource followed in April 2026, and RC results on 9 Jun and 9 Jul 2026 extended near-surface mineralisation. On 27 Aug 2026 final diamond assays (holes 26WCDD037-039) showed bonanza grades and extension into granite. Alien holds 30%.
- New zone
- 26WCDD029: 3m @ 524g/t Ag from 183m, below and separate from the mined orebody; trend about 50m long 9 Jul 2026 ↗
- RC extension
- Final 15 of 32 RC holes extend broad near-surface mineralisation outside the April 2026 MRE; best 44m @ 26g/t Ag from surface 9 Jul 2026 ↗
- Nickel-copper
- Massive sulphides in 26WCDD029: 2.73% Ni, 0.93% Cu, 0.7g/t Pd over 0.45m from 154.87m 9 Jul 2026 ↗
- Best intercept
- 38.3m @ 878 g/t Ag from 3.7m (26WCDD037), including 22.3m @ 1,495 g/t Ag 27 Aug 2026 ↗
- Peak grade
- 0.5m @ 64,745 g/t Ag from 29.0m in 26WCDD037 27 Aug 2026 ↗
- Extension
- Mineralisation outside the April 2026 MRE, near-surface and westward into granite 27 Aug 2026 ↗
Next: Updated JORC 2012 MRE; further west-to-east diamond drilling in H2 2026
- 27 Aug 2026 Final diamond assays in; MRE update Q4 2026
- 28 Jul 2026 Phase 1 results in; re-estimation and new drilling
- 9 Jul 2026 Final RC assays in; diamond drilling nearly done
- 9 Jun 2026 RC results extend mineralisation beyond April 2026 MRE
Board and management reshuffle
Follows from Georgina Basin copper-gold acquisition – Completed 16 July 2026, closed 16 Jul 2026Led to Portfolio review and monetisation – Indicative non-binding offer for Pilbara portfolio received
On 7 Jul 2026 Michael Carter became Non-Executive Chairman, and Vincent Fayad joined as Executive Director and CEO on completion on 16 Jul 2026. The new team set out a project-generator strategy on 3 Aug 2026. On 6 Aug 2026 Garlick left the Alien board early, with immediate effect instead of 7 Oct 2026. Fayad became Non-Executive Chairman of West Coast Silver.
- Technical team
- Matt Healy engaged via Venari services agreement; input sought on Georgina work programme 3 Aug 2026 ↗
- New CEO
- Vincent Fayad, Executive Director and CEO, appointed on completion 16 Jul 2026 16 Jul 2026 ↗
- Chair
- Michael Carter, Non-Executive Chairman of Alien 6 Aug 2026 ↗
- CEO
- Vincent Fayad, Alien CEO since 16 Jul 2026; now also Non-Executive Chairman of West Coast Silver (announced 6 Aug 2026) 6 Aug 2026 ↗
- New strategy
- Disciplined project generator and mineral asset developer 3 Aug 2026 ↗
- Outgoing director
- Bruce Garlick left the Alien board on 6 Aug 2026, earlier than the planned 7 Oct 2026 6 Aug 2026 ↗
- 6 Aug 2026 Garlick gone; Fayad also chairs West Coast Silver
- 3 Aug 2026 New team sets strategy
- 16 Jul 2026 Changes effective; handover under way
- 7 Jul 2026 Chair changed; further changes on completion
Closed · 3
Company filings. Not investment advice.