Share Talk Ltd

Share Talk caught up with Bill from Alien Metals Ltd (AIM: UFO) today to get his take on the recent company announcement with the Revised agreement for Alien to acquire 90% of the Hamersley Iron Ore Project. Alien currently has a 51% direct interest in the Projects, with the remaining 49% held by Windfield. The parties have been in ongoing discussions regarding Alien increasing its interest in the Projects. Pursuant to the Option Agreement with Windfield, Alien can acquire an additional 39% interest in the Projects from Windfield, thereby increasing Alien’s direct holding to 90% (“Option”). To exercise the Option, Alien will pay total consideration of £1,794,104, which consists of a cash payment of £60,000 and the issue of 260,000,000 ordinary shares at a deemed issue price of £0.0067 pence per share (being the 20-day volume average weighted price of Alien shares on the day that is 20 business days immediately prior to the execution of the Option Agreement) and the issue of 100,000,000 share warrants exerci