Alien Metals secures key approval ahead of Munni Munni acquisition 

Alien Metals (UFO ) is nearing the completion of its acquisition of the Munni Munni project in Western Australia after the group received a key approval from the Australian Government.

The global minerals exploration and development firm has now received a ‘no objection’ letter from the Australian Foreign Investment Review Board (“FIRB”), one of the key conditions precedent to the acquisition of the Munni Munni platinum group metals and gold project.

The Munni Munni Project is adjacent to Alien Metal’s Elizabeth Hill project which it said already hosts potential for further significant silver, copper, nickel and PGE mineralisation. 

In November and December 2021, Alien entered into two agreements with ASX-listed Platina Resources and Artemis Resources to acquire 100% of their current joint venture interests.

Bill Brodie Good, CEO and Technical Director of Alien Metals, said the presence of one of Australia’s largest unmined PGE deposits located so close to one of Australia’s highest grade silver deposits would provide “an amazing exploration and development opportunity” to Alien.

The Munni Munni Project hosts the largest ultramafic intrusion in the West Pilbara and is one of the biggest undeveloped primary Platinum Group Elements (‘PGE’) Resources in Australia.

Munni Munni has already been subject to considerable historical expenditure, which led to the delineation of over 2Moz of precious metal with potential for more along strike and at depth.

The Group believes that a robust demand for Platinum Group Elements (PGEs) via the transition to electric vehicles will lead to projects like Munni Munni being in high demand. 

The ‘no objection’ from FIRB stands as one of the key conditions precedent to the acquisition. Following this, the Company plans to satisfy the remaining conditions ‘in the coming weeks.’

Brodie Good said Alien is now finalising the outstanding aspects to the conditions precedent “to be able to complete soonest and start working in earnest on this very exciting project.”

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