No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Alien Metals said on Tuesday that it had entered a conditional agreement to acquire Knox Resources, owner of the Georgina Basin IOCG copper-gold project in Australia's Northern Territory, from Venari Minerals for 200,000.
The AIM-traded firm said the project comprises seven granted tenements covering about 2,500 square kilometres, with previous work identifying more than 90 conceptual IOCG targets and three drill-ready anomalies.
It also announced board changes, with Vincent Fayad to become chief executive and executive director on completion, Michael Carter appointed non-executive chairman, and Bruce Garlick to move from executive chairman to non-executive director during a handover period.
Incoming chairman Carter said the project's existing exploration work and prospectivity positioned Alien "strongly to advance its portfolio and create long-term value for shareholders."
At 0954 BST, shares in Alien Metals were up 9.09% at 0.12p.
Reporting by Josh White for Sharecast.com.
See latest RNS on Investegate
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.