Alien Metals (LSE:UFO) — Investor Presentation

0:01 Good morning, ladies and gentlemen, and welcome to the ALIEN METALS Investor Presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged. They can be submitted at any time simply using the Q and A tab on the right hand corner of your screen. Please just type in your questions and press send. The company may not be in a position to answer every question received during the meeting itself. However, the company will review all questions submitted today and publish responses where it's appropriate to do so, and we'll notify you by email when they are ready for your review.

0:30 Before we begin, we would like to submit the following poll. And if you would give that your kind attention, I'm sure the company would be most grateful. And I'd now like to hand over to Bill Brodygood, CEO. Good morning. Hi. Morning, Mark. Thanks very much for the introduction, and morning, everyone out there, be it morning, afternoon, evening. It's great to be here to give you all an update. If you're familiar with ALIEN METALS already, give give you you an an update update of of how we're doing, what we're up to, project development. And for for those of you who are possibly new to ALIEN METALS, an introduction to to us, who we are, what we're doing. You'll notice as well, possibly, if you're familiar with the company, we're sort of updating a little bit. So slightly new logo, a little bit new branding.

1:17 I think as as we move forward, you know, we're sort of growing and diversifying, so we felt it's an opportune moment to do that. So welcome, and, hopefully, I can give you a sound update on on where we are. And as as as Mark said earlier, try and answer as many questions as I can to to to get you fully informed. So here we are, the the normal disclaimer. That's all. Again, this presentation will be available on the website after this this meeting and for your perusal at your leisure for now. Just, you know, something as a guideline for everyone to to to look at and hopefully enjoy. So management team, same core management team other than, I think, significant addition in Joe Battersil, who's now a new nonexec director for us.

2:12 Joe started out as a geologist, cut his teeth in Western Australia, and then moved across into the finance side. So he brings a great combination to the team, really well connected, UK based. So it's a great sort of give gives me a a platform and a and and keeps me as a technical director, helps keep my feet on the ground and a bit of guidance on the technical side. Lloyd, as as you're you're aware, is is based down in in Perth. So he's iron ore company of Australia, so a country manager, doing a great job. Howard continues as our resource resource geologist on on the iron ore and is is always always there with us supporting supporting the projects.

3:00 So great team going well. Yeah. Market information, as as you see on on the share price, particularly on the on the graph on the left from our recent announcements last week and and hopefully from ongoing and and future announcements, good to see that share price coming back up. We are obviously, we still feel we're undervalued. I suppose that's a personal thing, but considering the projects we have, the possible commodities in the ground, but that's, you know, not necessary for us to say. However, it gives you a a summary of of where we are at the moment. And, again, for you can peruse that at your your leisure. So we're we're a project generator. So we're we're global at the moment. We have projects, obviously, Mexico and Australia. They're our main projects.

3:54 Projects at different levels. So we have sort of early stage exploration where we we see potential. There has been some historical work. There is geological situation that that that we think is is conducive for good potential resource. Then we've got a more advanced projects where, you know, we're looking at we've done we've got MREs already in place. We are working those up, improving on them, scoping studies being done. So several project stages, several stages of project development. And, significantly, we are we do have the people and the ability to do these at different levels rather than just at one particular level.

4:45 And I think that adds to the attraction of the company. So we've got a pipeline of projects that we are developing, monitoring, and and moving forward as well. Green iron ore. We've we've got the green iron ore. We've got the 60 plus percent direct shipping or DSO grade product at Hancock, and we believe at Brockman. Significantly, this is it might sound strange to people, but but green iron ore is is actually the way forward for for, you know, for all of us in terms of minimal minimal cost for extraction, minimal processing costs, and all that associates with with energy. So, essentially, the product we have, you extract it very simply, you deliver it, and you turn it into steel. And as you may be aware, obviously, steel is the core of of the future for for for everything. For, you know, an electric car will need need steel as a platform.

5:49 You know, solar panel systems, for example, they need steel. Hydrogen development, nuclear, solar voltaics, wind power, Everything is is based on steel. So, you know, as a commodity, we feel we're in a fantastic niche for that with our with our IOCA projects. Then, you know, our other commodities, the as part of the green revolution. So nickel, palladium, platinum, copper, silver. You know, there there's just some sort of basic statistics. I think, as importantly, if I go to the next slide quickly, what what has quite amazed me, if you look at the the slide on the left, the the sorry, the graph on the left, yes, electric cars are the future, and there's every government in the world has set set time frames that everything should be electric.

6:45 But it's not gonna happen overnight. We're in 2022. There's thirty odd years to get to some of these goals. In that time, there's still a significant number of combustion engines needed. And you see on the graph on the left is combustion engines. It's huge, bigger than EV. And combustion engines, to make them as clean as possible, need catalytic converters. Catalytic converters need palladium. So, again, one of the key commodities we feel is significant in our portfolio, and don't forget the copper, the nickel for, you know, for the wiring, for the for the battery systems, everything else associated with the EV technology as well. So, again, very much a green.

7:30 We our commodities are green, and that's we feel we're very comfortable in that in that circle of of of of of work. ESG, so environmental social governance. We the three pillars to forge a sustainable future. The the world is all about now sustainable future. Yet the world needs miners, explorers. We need to keep doing what we do, but we need to do it in continue to do it, should I say, in a more responsible fashion. And strong guidelines now out there for this this area of of our work in our industry. So we have, obviously, the environmental aspects, the the social aspects, and the governance. And as ALIEN METALS, we have you know, we are now building to be using specifically our projects, the stages that they're at, to apply the necessary e s and g, the necessary pillars, the specifics within those to to maintain and and continue to develop these practices in the company.

8:48 As the projects develop, you know, should for example, when, hopefully, we we start mining at Hancock, for example, then we need to do the next step up in terms of about essentially. But at the stage we're at, we're sort of focusing on environmental, the basically, these six main points as a core, but looking to develop as we go forward and to maybe integrate with one of the existing sort of out protocols and procedures that exist globally that would fit with our projects. It's very important, and we are we are starting to develop that more than we were in the past and very much aware of it to, you know, to add to the value and the knowledge and the, you know, the the viability of the company as well both for ourselves internally and for possible partners who might wanna come in and get involved with us with the exciting ride to come.

9:49 So let's start with Iron Ore Company of Australia. So future iron ore miner. That that's our that's our strategy. We're you know, we've got Lloyd in the team now focusing pretty much on the on the the mining development side of things. I'm I'm lucky enough to have a exploration team in Australia. We're carrying on doing the work, the resource update, drilling, exploration work, as you'll see. So, you know, we had our maiden resource September last year on a small part of Hancock, I should stress. So, you know, just over ten ten nearly 10 and a half million tons at 60.4%. A significant, I think, initial resource. It is inferred, but it is jaw compliant.

10:40 So we're very excited by that project. And I think, as you see, we have the Hancock on the on the Eastern side and the Brockman on the Western side. But the and the Brockman is sort of I shouldn't say lagging behind because it's just it's just been the second one out of the block. Hancockers, we've had an opportunity to advance that quicker. Brockman, you will see, is is coming gonna come on stream very soon as well and, add significantly to the project the overall project economics and and potential. We did the initial scoping study on on Hancock. That image is is sort of a a three d model of from one one angle of the Sirius extension ore body.

11:30 Fantastic ore body. I mean, it's, you know, very, very robust ore body even with the even at the inferred status. We did just put a diamond hole through that as part of our hopefully updating the resource information, which has only, like, in the last few days has been completed. We are drilling out there at the moment. It is tough going, though. It's, you know, it's a silly season. It's 45 degrees. During the day, there's cyclone season. So the guys are doing hard yards, but we're trying to keep the momentum going. I should say we're probably gonna gonna scale that down the next few days, give everyone a bit of a break, go back and assess everything we've done, and hit the ground again post cyclone season into the better into the the down under, which is a perfect period to to do exploration, move around on the ground, get lots more work done.

12:30 Just back on, you know, the inaugural scoping study, I mean, less than 30,000,000 US dollars dollars CapEx CapEx for the whole thing is quite quite remarkable when you think at least we're talking about an iron ore project. Our numbers recently in less than $60 a ton to port. Now yesterday, believe, iron ore was trading at a $148 a ton for the high grade material. So even if we we were fortunate to have a product that was selling at a 120 or a $130 a ton, that's, you you know, know, $50, $60 a ton profit on a on a on a base sort of of of one or 1,250,000 tons a year. That's a significant return on on any investment and a significant income for the company for you know, I could do a lot with that, to be quite honest, on on the exploration projects we have or possible new projects we pick up. So fantastic early stage work.

13:31 That's just a slide shows you the resource. I think the significant thing with that, you've got the two ridges resources of e and c, a much higher grade. So they're they're coming about 61 and a half, which is even even better. You know, the higher grade, the greener, the the more in demand, which we we've already, you know, finding out that this is the sort of product that is is sort of in terms of demand. And, again, the rich is it's all at surface. You just take off the basically, there's almost no strip. You're just taking off the the high grade from the from the top. Put it in a, you know, a mobile screening, crushing if you need to, or just you screen it and put it straight in the truck and deliver it to to the ship to the to the smelter, which is fantastic.

14:24 So as I talked about, we we've sort of touched just touched the surface really at Hancock. I mean, if you sort of have a look at the map and you can see that and I'm trying to find where my where my pen is. I can't see it, unfortunately. So I apologize about that. But if you get a concept that just these small areas are where the resources are defined. So 10,000,000 tons just just from from these these very small relative areas and the remaining ridges that we know are iron bearing. I'm not saying they're all high grade, but they all do present as iron ore bearing beds that have been tilted, which is what's formed the ridges.

15:09 You know, kilometers and kilometers, miles and miles of untested ridges that we think add will add significant potential to the project. And as we put in infrastructure, an well, they're everything's right there. So we just need to, you know, maybe do a sort of a side road, a side haulage road to where we find the next large volume material and for for minimal cost, and everything else is in place and carries on. So really exciting for Hancock. And, actually, Mark, if you can just run we got a little video we'd like to show. So, Mark, if you're able to kick that off. So this is just giving you a bit of a, you know, aerial shot of of of Hancock. So there's Rigi.

15:59 But if you if you look more in the in the bigger picture, you can see, yes, it's obviously obviously red red red earth everywhere, but significant. There there's a bit of an outline of the ridges just in that corner, the northwest corner. And, I mean, a resource only on a few 900 meters of of kilometers of of ridging. You can see, again, just incredible number of unexplored completely unexplored with huge potential. And on on the left of the screen, the the blue blue purply, I mean, they're ridges we didn't really know were there. And for recent work, they were they were identified, and they need to be obviously followed up. And there you can see Sonny Newman in the background. There's the rig. We managed to put a couple of holes in on Ridge F, which we haven't tested before.

16:50 So really excited to see what's going on there. And I think the the following and you can see the new ridges again on the left side of the screen. There's ridge g, ridge h. It just just goes on. And don't forget again, we're in this corner of the and that that was a nice shot of the of the rig from above where we drilled both eastern I think north and south because it looked like there was more maybe a hinge and a fold, which is always a great target because often that's where you get more concentration and also repeat of of your original bed. So it just gives you a bit of a flavor of what it's like out there. Personally, chomping at the bit to get out there myself.

17:32 The Western Australian border was due to open on the February 5. There's been a slight delay. We're still hoping it'll open soon. And I'm really excited to get down there and, you know, kick some rocks and and spend some time with the guys and the girls down there and, you know, work up work up that project. I think it'll be it's all don't don't tell my wife, but in a way, it'd be like a great holiday to spend a a few weeks

18:02 walking those ridges, taking samples. So on the mining side, mining development, that picture, if you're not aware, that's what's called a surface miner. So, basically, that's you've seen sometimes on the motorway clip taking out the old material. That's the sort of possibility of of a method of mining at at Hancock. We're pushing for shovel ready q one next year. Probably a little bit might be a little bit hopeful for that. So that's what we're aiming for. Realistically, it'd probably be a bit later than that. But, you know, there's no harm in in having a good solid goal to work to. Lots of discussions in place, main roads for accessing onto the Great Northern Highway, Utah Point at Port Hedland for for bunker bunker space for for our material or product,

18:56 design of the main haul road to the Great Northern Highway, mining license survey, environmental heritage. All those are ongoing. So and going very well, I have to say. Very encouraged by that. I mentioned Brockman earlier. Brockman has been a little bit behind in in permitting. We're now we're now pretty much got all our our heritage permitting done. Went very well just the end of last year. There you can see those are our sort of planned initial phase of drilling where we believe there is some quite significant this more Kanga type iron ore, which is often higher grade than the original as can be seen by some of these grades in the in the hand specimens taken by the company,

19:43 wow, nearly well, it's 20 well, nearly two years ago now, scarily, when we did some due diligence work on the ground. But, yeah, very excited with that one. And that hopefully, in the next few months, we'll we'll be there drilling and starting to develop that project as well, which will add significantly. Money money, Elizabeth Hill. Again, a fantastic project. You know, quite different. So PGEs, silver, copper, nickel, also in the Pilbara. So close, but obviously not not a stone's throw, but still a great location just just outside of Karatha.

20:24 If you're aware, previously, incredibly historical high grade silver mine on which mine which focused on the the high grade underground fresh fresh rock, fresh mineralization deposit rather than anything at surface. The the outline there, you can see the focus was on the underground, higher grade underground material. But from an initial noncompliant sort of four four plus million ounce resource, reportedly reportedly only only produced about 1,200,000 ounces from the from part of the underground workings. So we're very excited that both from an underground and and as you'll see next from from potential resource surface resource, which is what we recently reported on, some incredible grades near surface and not just spotty, 9.7 meters averaging,

21:28 you eight know, 300 grams. It's just just incredible. Probably some of the best drilling intercepts seen in in Australia, even even globally. I'm we're we're sort of looking at that in a way from a point of interest. What's significant with these these intervals? I mean, 24 meters, essentially, the whole hole to the to the end of hole sort of averaging 800 grams a ton silver. You know, it's 27 ounces a ton. Huge numbers. And but through right through this oxide, this sort of weathered softer material, so and and silver being quite a mobile metal, it show showing us that it's it's moving it's moved around and and made a large you know, quite a large deposit, essentially, that that we now need to to work up waiting on the RC results that that we we did did alongside these these diamond diamond drilling. And,

22:29 yeah, really exciting and just just incredible results, but but as importantly, very incredibly encouraging for just this part of the project. Let's not forget this is one part of the Elizabeth Hill money money project, but a significant part. Again, here's just a little mark, if you don't mind. Again, a small video is it's like a three d model, which just shows initially how those so so the red is what's in what's been we've understand is the mined out area from the high grade in in underground. The gray gray is more the the historical resource that was defined from the historical work. And you can see these are our three core drill holes that with these spectacular results.

23:18 Very interesting. You're seeing there's a trend, a a sort sort of of south dipping plunge of the ore body. But what I think is significant is that second hole, a hole three, stopped in ore.

23:31 It it actually ended up. And you can see the RC holes around that we we're waiting on the results of at this stage to give us more information and and an update. But, really, fantastic we believe a fantastic first program. We didn't go crazy and drill everything. We just thought, let's let's do it, control, do a few holes, have a look what we've got, combine it with the old data, and and move forward. And then as you may be aware, we're in the process, the final throws. We hope of completing the acquisition acquisition of of that that money money joint venture project as well. So added to our money money north

24:12 exploration license sort of around wrapping around Elizabeth Hill, we are now now in the final throes as as you might have seen in acquiring a 100% this money money joint venture, which includes the money money historical resource. It is non a noncompliant compliant 2004 resource, but at 2,200,000 ounces of PGs and gold and income and higher levels stronger in palladium than platinum, which is sort of unique in in in these types of deposits, which also piques our interest. I think, significantly, this project has not really had much attention for again, I'd be like Elizabeth Hill for maybe ten, fifteen, twenty years

25:03 that that it deserves in a way. And with now the market, the the demand in in in the green in the green commodity market, the change, we we we see see this this as as a a fantastic opportunity both to acquire this project to do what we like to think we're doing on Elizabeth Hill and in a way what we've done on the iron ore to date. But, also, you know, we're gonna have this huge, really compact, compact, really exciting landholding. I think the first time anyone's held the majority of this this area, which includes all of the money money intrusion, so we can sort of combine the geology, the modeling, the the geochemistry. Excuse me. Just ignore that. Sorry. To to be able to really work up this area really cost effectively.

25:53 And, yeah, we're very excited and, you know, watch your space. Hopefully, that'll be we'll get that over the line as soon as we can and then really add we again, we feel a really fantastic project

26:06 into the portfolio. Portfolio. And, yeah, last but not least in Hawaii is Mexico. That actually is a shot of Los Campos. And if you get a sense, that's sort of probably a a nearly a kilometer, and you can see a whole line of old workings all along the main the main mineralized system at Los Campus sorry, Los Campus, which, again, this no one's really been there, worked this this place for since colonial yeah. Almost the last century. So, again, very it's nice to be to be talking about them again and getting getting back hopefully, getting some news on them very soon. So Sanselso, if you recall, again, two historic mines, silver mines. Again, huge grades. I mean, 2,600 grams, you know, 80 plus ounces a ton grade. And this is silver. It's not silver equivalent where a lot of projects you see, they report, you know, great numbers,

27:10 silver equivalent, and you break them down and it's silver's maybe a third, and then you've got lead and and and other other, dare I say, impurities. That's probably not fair. But whereas this side is very much a high grade silver silver deposits, you know, silver systems, which are are, in a typical way, of this this part of the, you know, the Mexican Belt. The company did quite a lot of underground work on on this particular project. Historically, HCA Howard involved doing a due diligence work. Work. This is probably fifteen years ago now, but but still significant, you know, averaging samples underground, 400,440 grams out of nearly a 100 samples.

27:59 Feel there's great potential on this. We the plan has always been and is still to do some drilling to really start proving this up. That's we're in the final throes of getting that over the line. I know I've said that before. I can only say that again that we're we are working as hard as we can along the right, you know, channels in the in the right way with with local communities, with the with the government departments, environmental department to get the right all the permits in place to be able to go and drill that. So watch your space. But, again, very exciting. And as I was saying earlier, Los Campos Campos is is almost bigger, but but less explored.

28:44 These old shafts are incredibly deep. I I don't know if you remember as a kid, sometimes you'd find a an old well and you drop a stone in and and listen to see how long hit the bottom, see how deep it is. I did that on a couple of these shafts at Los Campos when I was there a couple of years ago. They are quite deep. And

29:01 we haven't we haven't put people in there yet, and we felt we better hold off on the funding to do some some drilling first. Let's start proving up from the drilling, and then we can look at getting people underground, you know, with a with a justification of good continuation of of grade, thickness, strike extent, which we believe is there. And as you saw from that early picture, somebody spent a lot of time and effort to mine all along this structure, the particular Los Campos structure. And the second one on on this image, the to the sort of the bottom the the left side of the of Los Campos is a second a second system that really hasn't other than that one shaft sort of in the center bottom of the of the image hasn't been as as worked, but we're very excited to be doing that. So, again,

29:54 should be drilled, to be followed up as soon as we can. Donovan two. Let's not forget Donovan two. Copper gold, we're still very much dedicated to testing properly testing the the copper anomaly that we found probably three years ago now in that old water well at the Los Alamos target. It does come it does sit along with a bit of an IP target. There was some drilling done last year by by Capstone who got involved. We no no disrespect to Capstone, but we don't feel they drilled in the right place. And, hopefully, we're gonna drill in the right place. So we're finalizing that to to get that, yeah, to get that going and again and and really find what we believe is some significant potential, another VMS body down there that, you know, let's not forget tech tech San

30:55 Nicolas is only twenty k's away, and these VMSs appear as, you know, as as plumes. So there's several of them altogether. So, look, as a summary, you know, experienced management team, I'd like to think a good great geological team as well. We're using we're not afraid to use external consultants who might have more experience in certain aspects of the work we're doing. And you have to do that. We can't we don't know it all. So we are using we'd like to think the right people to help us in We've got some great projects. I mean, I I think we're almost we almost feel we sort of got, like, three three excellent projects that each one could be in its own right a company maker, And we we feel we've got three.

31:45 If I sort of lump Elizabeth told the money money is one, IOCA is two, and the Mexican projects is three.

31:52 I think we've you know, we've and we're moving them forward with great commodities as well. All of them have the great commodities that we see a huge future in for the world, which helps all of us as well. So it's good to be able to do that as well. Great jurisdictions. Australia doesn't really get better much better than Australia. Mexico, great jurisdiction. You know, great mining history as well. Great workforce, as I've said in the past. So, you know, we're very we feel very comfortable with with where we're working. We are now developing our ESG to bring us sort of more up to speed. We haven't it's not that we haven't done that in the past. I think it's now more being aware of it and and and dry and having sort of more stronger budgets and planning for that for that purpose.

32:45 And, yeah, I think we're we're moving in the right direction. We're we're working hard. We're combating still the limitations of of the pandemic, which, you know, I hope that everyone out there is is is managed well and come come coming through, you know, all all safe and sound. And I think we we shall we shall keep doing what we're doing and keep keep you up to date. So So I think there's quite a few questions. I'll try and answer as I can. That's great, Bill. Thank you very much indeed for for taking the time and presenting to investors this morning. Ladies and gentlemen, please do continue to submit your questions using the q and a tab situated on the right hand corner of the screen. Just while Bill takes a few moments to review those questions submitted already, I'd like to remind you the recording of this presentation along with a copy of the slides and the published Q and A can be accessed via your investor meet company dashboard, and we

33:39 will send you an email when they're ready for your review. And obviously, Bill, I think just given the number of investors that we have on today's call along with the 20 or so pre submitted questions, we won't be able to get through all the questions. But of course, the company will review all the questions, and we'll publish those responses where it's appropriate to do so. Well, Bill, as I've just said, you know, investors did have the ability to pre submit questions. So perhaps if I may, I'll start off the q and a with a few of these. And and perhaps the first one to start off with, which project do you think will give a revenue stream first, Hancock or Yeah. That's look. I think we're you know, it's all about just moving in the right direction. So we as I said, we're we're sort of looking to be shovel ready at Hancock next year. Now I've put q one or we've sort of talked about q one as a goal. That might not be the reality of it.

34:32 I think the essential thing with Hancock is the permitting. We've gotta make sure we have all our necessary permits in place. It's but

34:41 we will you know, we'll update the market and update ourselves as we move forward. We have we know what we've got at Hancock. We've gotta start. So, you know, talking to possible offtake partners or or joint venture partners already, you know, there's there's that one's probably it's a simpler project to to to start a revenue stream. Elizabeth Hill, you know, we're we're currently and I didn't mention earlier, we're we're currently still working on dewatering and getting back down the mine, the old underground mine. Now I've got no idea what we're gonna find out now. I've you know, suppose I I have this vision of a bit like from a Disney movie. We go down there, and it's, like, all sparkling with with lots of silver that they never managed to get that we can pretty much start pro start extracting a very early stage.

35:33 I don't know. That that's a more unknown. So I would say, well, I just don't know. You know, we might we've just had a fantastic resource, incredibly high grade at near surface hit at at Elizabeth Hill as well, maybe maybe that becomes our our first one off the rank. We do a small open pit, you know, to take out a a significant amount of silver from a very small volume of material in in early stage. So, yeah, we're we're working towards both. And, look, you never know, but we might be we might even be doing something in Mexico in in in a year's time that will surprise everybody as well. So watch this space, I suppose. It's great. Thanks, Bill. Just turning on to listings, really. And will there be an IPO on ASX or IOCA?

36:27 Yeah. A lot of acronyms there. I don't we're looking at all options. Okay? We we created IOCA, so Iron Ore Company of Australia, as a sort of subsidiary of ALIEN METALS to I mean, it's as much for reporting, accounting, but also as a because it's iron ore. It's quite specific. So that gives us an option should there be a joint venture partner who wanna come in and say, hey, guys. I'd like to, you know, have a you know, get involved in the project, but I'm not interested in silver or or Mexico, whatever it might be. Or indeed, it could be that we already have, like, the the company in place with with the assets in the company, and then it's easier to spin. So into a into a listing. We're looking at all options. It is an option on the table.

37:15 Honestly, I'd I'd I'd love to be able to educate AI market and our, you know, our sort of investors this side of the planet better on on the asset on the iron ore asset because I think it is a it is a fantastic project, very simple one as well that could you know, if we if we get that support locally, we just drive it on ourselves. So it's it's a possibility. Yes. That's That's great. Thank you very much indeed, Bill. I might take a question from Deepak. Thank you very much indeed for submitting your question, and it reads as follows. Hi, Bill. It seems that Mexico is becoming less attractive as a mining jurisdiction for various reasons, community relations, security, and political uncertainty.

38:05 What are your thoughts on these areas, and can you provide an update on your activity there? Well, hopefully, I answered a little bit in the presentation. Look, Jurisdictions and and political stability, you know, it it sway it it moves around all the time. I mean, I spent many years in West Africa. I was sitting in Conner Creek when when the coup took place many years ago, and, yeah, we could hear the gunfire in the background and and the military took over and kicked out the the president and announced they were they were changing the rules. And within six months, it was all back to normal. So as normal as can be. But I think look. The the projects, as I say, we're we're trying to get I'm trying to get that drilling done as soon as we can.

38:53 We're in final, the you know, the final hurdle, but it's sort of like, we can see the finishing line now to get to get those final permits in place. So I think we we push ahead because they are great potentially great projects. They're not gonna change the world, but, you know, if we got twenty, thirty million ounces between them of of good high grade silver in a in a very strong mining jurisdiction with the skill to to to mine and process these these these types of ore bodies really efficiently and cost effectively, then I think we need we'll just keep going. That's no problem. And that's not me calling you, Bill, just in case. Sorry. I I know. It's okay. That's it. Absolutely. Please don't don't worry. The next question is from Sam. Maybe it's Sam, you never know. Good morning, Bill, and thanks for all the hard work you and the team are doing. It's a great job.

39:41 Amazing results on first drill holes, most definitely world class. How many holes are we expecting back soon? And if the results look good, will you be looking entice a JV with a major or mid tier minor to prove up together? Yeah. No. Thanks for the question. Yeah. I mean, I have to say they're better better than we expected, the the results in a way, but this is why you've got to go and, you gotta go and drill, I mean, step by step. As I said, I I could have quite easily put in another 50 holes, sort of quite blind, but we've done it this way. We're expecting about I think it's fifteen fifteen fifteen RC holes, which is spread some if you recall from the image from the model, there's about another seven or eight around the ore body itself. It's so ore body. We also did a couple of holes to the I think four holes to the north. So a few 100 meters north looking at testing this more larger zone that we believe exists around the the high grade silver pod pods in the middle holes to the south and a couple of holes on at the beginning of the J rig further around to the to the east. And I should just say in the presentation, there's a few more slides in the back in an appendix that have a little bit more information on oh, there we go. On the list some okay. A little bit more on Palladium, the importance of Palladium.

41:08 A good old you know, it's it's it's a tried and tested image from Brockmann as well that we've we've used in the past and but I think it's still very relevant and and part of what we're planning. And then a little bit more on the on the Elizabeth Hill, the the JREIF, the other areas we've looked at, the recent trench sampling results, which shouldn't be forgotten because they are quite significant as part of the one of the second targets at at Elizabeth Hill being this JREEF base PGE target, PGE base metal system that is associated more with the with the bigger money money intrusion. But, yeah, I'm looking for partners always. I mean, you know, we're a junior company.

41:56 We've got great support. We recently did a very successful fundraising, but we have to be realistic. You know, we have to look at possible partnerships. And, absolutely, as we as we do the work and prove up, hopefully, successfully and competently what the potential is of these projects, you know, we can make it aware to certain certain parties if that's what they like. And I'm sure there are. And I think there are a couple out there already who will go, well, actually, yeah, that that that's something we we wanna have a a a slice of. So or or the whole cake. I don't know. So, yeah, we're definitely talking or open open to to to to talking to people about about the projects.

42:42 Thank you, Bill. There was a pre submitted question. When can we expect completion of the Hammersley 90%? Yeah. That's I was actually just before this just having a chat with the lawyers. Unfortunately, some of these things, they just take longer than than one would would like because they have to go through, you know, all the all the necessary reg regulatory processes. And we're we're I'm hoping you know, it the deal is done. It's just not sort of the final final signature on on the bottom of the page. So there's no change in in the parameters. We just need to get that done. So to be fair, we've we have kept our lawyers quite busy with with the with, you know, the money money transactions and and the Elizabeth Hill from last year. So we will I'm hoping, yeah, as soon as we we can can get get it it done and over the line, then we could just move on. But it but it's done in principle. It just needs that final sign off from a from a legal aspect, really.

43:47 Thanks, Bill. Thanks very much indeed. There were were a a couple couple of of questions questions around around funding. I mean, if I just select this one just as an overview, really. Given that the company has several projects underway in Western Australia at present, does the company have enough funding to sufficiently test current sites until the end of twenty twenty two? Well, as I said, we had a a very successful fundraise end of last year, and we still had a little bit in the pot. We had some quite a sizable option option uptake, I think, a couple of weeks ago, ago, which had a little bit more. So we and and the budget we have is basically covers some quite significant work for all the projects for 2022.

44:35 And, obviously, while we're talking to either one of the projects or all the projects, then that that chases the dynamics because if they're bringing in some funding, we can then, you know, move some of that funding originally planned for project a across to one one of of the the other other projects. So but we are yeah. We've got we've got funds in place to do quite a lot of work this coming year for sure. That's great. Thank you. What I might do is turn to a question from John Dee. Thank you, John, for your question. Is Is there an option to run Elizabeth Hill ore to early production on a ore tolling basis given the high grade shallow mineralization and spare processing capacity at, for example, Artemis Radio Hill? Everything yeah. We we only just sort of got these results last week. So but really exciting.

45:26 Good question, John. Yeah. As I said earlier, maybe we we we go yeah. Take a a shallow open pit, super high grade ore body quickly in the in the in the coming months. For the the Radio Hill plant is is there at, obviously, just up the road. That I I can't answer the question in terms of its functionality at the moment nor its ability to process this type of ore because each each plant is designed for normally a specific type of ore. So, know, the the metallurgists metallurgists get get involved, involved, and and they they say you need to do x y zed to get from the, you know, the rocks and the dirt you put in at one end and your product at the other, you know, your concentrate or your your gold or your silver, whatever it might be. So but, you know, a very good question, and I we're looking at options at the moment.

46:22 To be frank, we need to do some more work, some more drilling. Yes. Spectacular results. We need the RC, other results to come in, and then we need to go back and say, do we do we consider doing more a grid? You know, we we need to drill it out better to to finalize the resource to work up the numbers. But, yes, everything's possible. And, absolutely, with Radio Hill down the hill, up the road, should I say, it's it's definitely a possibility. So we're looking at as ever, we look at all options and and think outside the box a bit if we can as well. That's great. Malik, if I may turn to Malik's question. Thank you, Malik. With such huge grades you've just hit at to what extent does this change the picture of the historical resource in your view? It looks to be massively upgraded.

47:12 Yeah. I mean, well, this is this is the thing. The historical resource from what we've seen and can find talks about 900,000 ounces in the in the the oxide. So in in the surface sort of above I think it was 45 meters below. So from surface to 45 meters depth. However, in several reports, sort of, you know, written reports and discussions, it does talk about very limited drilling in the oxide. So therefore, they feel even even from the historical you know, previous people working there felt it was under undertested and therefore probably could be increased significantly.

48:01 The the oxide resource. I think from what we've just done and what we've just drilled, that's the case, that it there is a significant significantly more silver than potentially was previously reported. However, as I've said again or earlier, we would have decide to decide if if if that if there's significant value in in moving some funds to to, say, drilling out that oxide area at the moment, or is there more value in in once we get underground, you know, That's gonna be a subject of you know, it's it's planning. It's and if we if we get a nice partner who says, hey, guys. Here's here's a good chunk of investment to to do both, then that's an option option too. Too. But, But, yeah, yeah, I I think the other thing is, interestingly, that it was a bit probably hard to see on on the video, but the the gray area was the historical sort of outline of the resource done from the historical work.

49:08 But we feel already we've we've got more more data, higher grade material outside that initial model. So I think, yeah, we feel there's there's a lot more there and not just silver either. I mean, don't forget we got significant copper, nickel, cobalt, zinc associated associated with with both the silver mineralization and slightly with the geological contact as well. So it which was never really looked at. All everything ever everyone ever talked about was silver. You never saw reference to nickel, nickel, copper, cobalt historically. But now, you know, there's and that's part of what we're we're looking at too.

49:53 That's great. Thank you. In fact, two questions came through almost at the same time, one from Mohammed and the other for Dan around Greenland. Can you copy on what is planned or what is happening with Greenland? Yeah. No. I I suppose I I in a way, I would do Greenland a a misjustice because we didn't really mention it. Greenland was an opportunity that that before my my time was applied for. It's a great project, but we don't have the capacity to really work Greenland. If we if we did, I mean, I I'd love to. You know, personally, I I would love a chance to go and do some work in Greenland. But we we we we're not we're too stressed. We couldn't do that. Therefore, essentially, we're looking for, you know, for to for someone to take take that project on.

50:43 There's no real value in us doing anything. We we kept up. We we maintained its integrity for 2021. So we're now looking at, you know, finding finding someone who'd be interested to take it because it does sit around probably one of the biggest zinc deposits in the world that the the Ironbark have and has has great potential. It's just not for ALIEN. Perfect. I'm probably gonna pronounce it incorrectly, so I apologize in advance. But this is a question from Deepak. Hi, Bill. With With regards to Muni Muni or Muni Muni, we know the team have highlighted a significant number of targets in the northern area around the Elizabeth Hill and have plenty of targets being considered, and we're finalizing paperwork to allow trenching and drilling in conjunction with current mapping and surface sampling, and all are being completed.

51:35 Can you please update us on further plans once the planned acquisitions have completed with the larger combined area? No. Thanks. Indeed, we have we have got significant targets across, you know, the Elizabeth Hill mining lease, across the money money north exploration lease. And sort of as part of our studies before, even though, you know, it wasn't wasn't it wasn't part of the remit, but it all it all combines with the whole money money intrusion, the geological intrusion where where everything gets its name from down there that, you know, with the Hunter Reef, that is mainly the main source of the the money money platinum group element resource, but also that dips in and out of our, you know, existing ground. And, obviously, when when the completion, hopefully, of that acquisition's done, then it's all our ground. And we don't need to worry about lines on a map. We just then start filling in.

52:37 We can do the the whole thing in one sort of big big sweep, which would be fantastic. Yeah. So we're again, there have been some delays on these POWs, these permits of work in in Western Australia. You know, they have been severely shut down, you you know, know, and sort of against the pandemic, and it has impacted on that. So we're again, we're trying to get those we will get those permits soon. Again, that part of the world, it's not a good time to be in the field now. The guys are trying to work on the opening up the mine. We're gonna have a small camp in place once that's done as well. And, you know, at the moment, of Post East Easter is like the the sort of target date when we hope, you know, the Easter bunny will open open the border for us.

53:26 We can get back in. The weather's kinder. It's a great time of year to be up there. If if anyone gets a chance to go to the Pilbara in in sort of June or June, July, August is some it is the best time to be there. From our point of view for working, you can, yeah, you can move around really easily. It's comfortable. So we are you know, we're working on those. That's all part of the bigger picture. It just takes time, and we can't you know, it's it's supply and demand. It's it's focusing certain certain certain aspects of a project, but it's still all there along you know, it's just a case of where do we go next and what do we test next. That's great. Mohammed asks, is there any possibility to go to commercial on any single project independently or through JV in Australia in '22?

54:22 When commercial, I I'm assuming you mean production. I don't think we'll I don't think '22 is gonna be we're gonna achieve that in '22. I think we still have to remember we're still the world world is is still still coming out of well, I say coming out of pandemic. You know, it's it's still with us. So there are still significant restrictions and delays in in in everything. I think I I did see a question earlier about the laboratory delays. A that's something we just have to work with and manage. We even on that question, we looked at even shipping samples from Australia to Ireland as a OMAC or ALS in Ireland, a very, very well known and well used industry laboratory there.

55:10 We were even considering shipping, you know, a couple of tons of samples from Australia to there, but to speed up the process. However, there's hardly a flight out of Western Australia anymore. So you can't you know, your capacity to do that is incredibly diminished. The cost has gone through the roof. So, actually, we sort of manage accordingly. So I don't think we'll get commercial this year. Well, certainly, if we get the opportunity to have a partner engaged and onboard, that's you know, we're we're already trying to do that or talking to parties on that, mainly on on the iron ore because that there's a lot of interest now. People are aware of us and aware of the projects and the quality of the product. So but I don't think it'll commercial be in terms of production this year. I'd like to say '23.

56:02 That's great, Bill. Thank you very much indeed. I I suspect we could be going here for quite some time for every question I ask you. Another one appears to come through. So firstly, thank you to all the investors that have submitted submitted questions. Questions. And And, of course, we'll review all the questions submitted today. And if there's any other responses that will be provided, we'll notify you accordingly. Bill, I know investor feedback is particularly important to you and to the company, I'll shortly redirect investors to give you their thoughts and expectations. Before doing so, I could ask you just for a few closing comments to wrap up with. Okay. Well, look. Thanks thanks, Mark, and and your team as well. Thanks, everyone, who joined. As I say, you can get a copy of the presentation on the website. I think it's super exciting times for ALIEN. We we still you know, I'm obviously gonna say we feel undervalued with the quality of the of the projects we have in the jurisdictions we're in with the commodities we've got and the team I'm, you know, confident with great things for for the company for 2022 and beyond.

57:04 So, you know, keep we appreciate all the support we get. And I know we can't satisfy satisfy everybody, but we do our best to to to make this a successful company with successful projects, which I believe we will. And we are doing and we will going forward. So thanks again for your time today. That's That's great, great, Bill. Thank you once again for updating investors this afternoon. Could I please ask investors not to close this session as we'll now automatically redirect you for the opportunity to provide your feedback in order the management team can really better understand your views and expectations? This will only take a few moments to complete, but I'm sure will be greatly valued by Bill and the team. On behalf of the management team of ALIEN METALS PLC, we'd like to thank you for attending today's presentation. That now concludes today's session. So good morning to