Highlights

  • Alien Metals raises GBP 1.8M through a major placing of new shares.
  • Funding facility terms updated with partial conversion and extended repayment deadline.
  • New board and technical appointments planned to expand oversight and operational capacity.

Alien Metals Ltd (LSE:UFO) announced a placing of 2B new common shares at 0.09 pence each, generating GBP 1.8M in gross proceeds. The new shares will account for roughly 17% of the enlarged share capital after factoring in both the placing shares and conversion shares.

Subscribers in the placing will receive 666.7M warrants, issued in a ratio of one warrant for every three new shares purchased. Each warrant enables the holder to subscribe for an additional share at an exercise price representing a 50% premium to the placing price and remains exercisable for 12 months.

In parallel with the fundraise, Bennelong Resource Capital Pty Ltd agreed to convert GBP 0.25M of its existing convertible notes into 277.8M new shares. The repayment deadline for the remaining balance under the funding facility has been extended from December 2025 to June 2026.

Additional Warrants and Funding Facility Terms
As part of the conversion and extension arrangements, Bennelong will receive 277.8M warrants exercisable over three years at a price set at a 50% premium to the placing price. An additional 25M warrants will be granted to Bennelong as consideration for the facility extension.

The updated agreement includes conditions related to future asset or stake disposals, repayment requirements linked to upcoming cash inflows, and a revised determination of the conversion price for any remaining facility balance.

Operational Developments and Project Activity
The company outlined planned exploration and reconnaissance activities across its three Pilbara iron ore assets: Hancock, Vivash, and Brockman. These projects are prospective for DSO hematite-goethite mineralisation above 60% Fe. Work programmes include field assessments, drill targeting, geological model reviews and potential expansion of mineralisation zones.

Alien Metals also referenced expected cash inflows of AUD 0.5M from the Munni Munni Joint Venture, intended to further strengthen liquidity and enable repayments under the funding facility.

Board and Technical Appointments
The company announced the proposed appointment of Michael Carter as an independent non-executive director, subject to standard approval processes. In addition, Alien Metals has appointed Mark Pudovskis as Technical Advisor to support geological modelling, programme planning and project oversight across the Pilbara portfolio.

Share Price Snapshot
UFO was trading 16.67% lower at GBX 0.10 per share as of 11 December 2025.