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Alien Metals Limited's joint venture partner, West Coast Silver Limited, announced on 1 September 2026 a placement to raise A$6 million (approximately £3.2 million). West Coast Silver received firm commitments from institutional, sophisticated, and professional investors, including Admiralty Resource Fund which committed A$500,000 for 5,263,158 shares at A$0.095 each. The placement is expected to complete on or around 8 September 2026, with Alien Metals holding a 30% interest in the Elizabeth Hill Project and 30.5 million shares in West Coast Silver.
| Date | 1 Sept 2026 |
| Time | 07:00:20 |
| Category | Miscellaneous |
| ID | 8552S |
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
1 September 2026
Alien Metals Limited
("Alien", "Alen Metals" or the "Company")
West Coast Silver A$6 million placement to accelerate exploration at Elizabeth Hill
Alien Metals Limited (AIM: UFO), a minerals exploration and development company, announces that its joint venture partner in the Elizabeth Hill Silver Project ("Elizabeth Hill"), West Coast Silver Limited ("West Coast Silver") (ASX: WCE), has today announced a A$6 million (approximately £3.2 million) placement ("Placement") to accelerate exploration at Elizabeth Hill.
Highlights:
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West Coast Silver has received firm commitments to raise A$6 million through a Placement to institutional, sophisticated and professional investors. |
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Admiralty Resource Fund, an entity associated with Paul Cronin, has supported the Placement with an investment of A$500,000 for 5,263,158 shares |
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Placement is expected to be completed on or around 8 September 2026. |
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The Placement was priced at A$0.095 per share representing a discount of 13.8% to the 15-day VWAP to prior to the date of the West Coast Silver trading halt. |
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Funds from the Placement will be used for exploration and development drilling, geotechnical and metallurgical testwork, mineral resource estimate updating and a scoping study. |
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The proposed works follow the recent drilling campaign across the Elizabeth Hill Project and the identification of both near-surface and deeper mineralisation in initial drill holes. |
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The additional funds raised allow West Coast Silver to bring forward exploration programs at Elizabeth Hill South and West, accelerating the search for the next Elizabeth Hill deposit. |
Commenting on the Placement, Non-Executive Chairman of West Coast Silver and CEO of Alien, Vince Fayad, said:
"We are extremely pleased with the strong support received for the Placement, with demand significantly exceeding West Coast Silver's target.
"The interest shown from both new and existing investors is a strong endorsement of the quality and opportunity of Elizabeth Hill as evident from the outstanding results delivered from our recent drilling program. Moreover, we are delighted to see the significant support from Admiralty Resource Fund and the endorsement of West Cost Silver's strategy under CEO Sergei Smolonogov.
"With the additional funding secured, West Coast Silver is now in a strong position to accelerate drilling across Elizabeth Hill, pursue the significant near-surface and deeper growth opportunities identified to date, and advance the technical work required to progress the project towards development."
Alien holds a 30% interest in Elizabeth Hill and holds 30.5 million shares in West Coast Silver (representing an approximate 8.7% interest in the issued share capital of West Coast Silver prior to the completion of the Placement).
The full West Coast Silver announcement can be viewed at: West Coast Silver Announcements=
For further information, please visit the Company's website at www.alienmetals.uk or contact:
Alien Metals Limited
Vince Fayad
Email: [email protected]
Strand Hanson (Financial and Nominated Adviser)
James Harris / James Dance / Edward Foulkes
Tel: +44 (0) 207 409 3494
Turner Pope (Broker)
Andy Thacker / Guy McDougall
Tel: +44 (0) 203 657 0050
IFC Advisory (Financial PR and Investor Relations)
Tim Metcalfe / Graham Herring / Zach Cohen
Tel: +44 (0) 203 934 6632
Notes to Editors
Alien Metals Limited is a minerals exploration and development company quoted on the AIM market of the London Stock Exchange (AIM: UFO). The Company follows a balanced strategy focused on advancing and strengthening its asset portfolio through targeted technical work and project development, while evaluating partnerships, joint ventures and selective monetisation opportunities to enhance shareholder value. Alien will also continue to consider carefully selected acquisition opportunities consistent with the Board's disciplined investment criteria.
Alien's 100%-owned Georgina Basin IOCG Project comprises approximately 2,500 km² of tenure in the East Tennant region of the Northern Territory. The Project includes seven granted exploration licences and three exploration licence applications, an extensive historical technical dataset, more than 90 conceptual IOCG targets and three advanced prospects associated with significant gravity anomalies.
Alien additionally retains exposure to two advanced precious and base metal assets in the Pilbara. At Munni Munni, one of Australia's largest PGM systems, a historical estimate of 2.2 Moz¹ of platinum-group metals and gold has previously been reported. The Company has completed its partial asset sale and joint venture transaction with GreenTech Metals Ltd, under which Alien retains a 30% interest, free-carried to completion of a bankable feasibility study, and also holds 37.9 million shares in GreenTech Metals Ltd. Alien, through a wholly owned subsidiary, also retains a 30% interest in the Elizabeth Hill Silver Project pursuant to a joint venture with Crest Silver Pty Ltd, a wholly owned subsidiary of West Coast Silver Limited. The joint venture encompasses the Elizabeth Hill Mining Lease M47/342, which produced some of Australia's highest-grade silver ore during the late 1990s. Alien's 30% interest is free-carried until West Coast Silver announces a Decision to Mine. Alien also holds 30.5 million shares in West Coast Silver Limited, providing both direct project exposure and equity participation in the project's ongoing exploration and development.