Noting the recent share price in Alien Metals (LON: UFO), the minerals and exploration development company sought to reaffirm to the market why its share price has risen so strongly.
Rather than issue a ‘speeding ticket’ following a 200% weekly surge in its share price, UFO implied that the meteoric rise was justified given its strong outlook.
As part of the company update, UFO provided a plethora of highlights including completion of more detailed mapping at Hamersley Iron Ore projects, negations with Capstone Mining for a joint venture, finalising of trenching program on the Elizabeth Hill Silver project and continued review of projects to add to its precious metals and base metals portfolio.
Praising the progress the company was making against a challenging backdrop of COVID-19, CEO Bill Brodie Good oozed confidence and promised plenty to look forward to:
“The Company is extremely pleased considering the global pandemic issues with the progress across all our projects and with the recent acquisition in Australia around Elizabeth Hill plus the field team’s success in the Hamersley. We also have plenty in the pipeline to look forward to. We are confident that we will finalise the Capstone Mining agreement shortly and with our team in Mexico working hard to secure the necessary drilling permits are keen to start drilling at San Celso, Los Campos and Donovan 2 when able.
We also continue to review possible new projects to add to the UFO portfolio and strengthen the Company’s asset base.”
The share price of UFO is currently in the range of 2.30-2.50p.