Alien Metals agrees to acquire Knox Resources

(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.

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