Alien Metals Ltd (AIM:UFO, OTC:ASLRF) said it has appointed Roderick McIllree as executive chairman with immediate effect and that current chairman, Dan Smith, has become a non-executive director.
London-based McIllree is an experienced mining executive with knowledge of global finance, mergers and acquisitions, project management, international logistics and precious and base metal production
He was the founding executive chairman at AIM-traded Bluejay Mining PLC, before resigning in June, and is currently an executive director at More Acquisitions PLC (LSE:TMOR).
Last month, Alien announced that Anglo American PLC (LSE:LON:AAL) had been granted an exclusive right to negotiate project funding and offtake arrangements for the Hancock iron ore project in Western Australia.
READ: Alien Metals grants Anglo American exclusive funding and offtake right for flagship Hancock iron ore project
“The near-term iron production in Western Australia is clearly the short-term focus,” said McIllree. “Finalising the last steps to production including offtake and finance will continue apace.”
“However, what is becoming clear is there is significant unrecognised upside potential in addition to the upcoming start of iron ore production.
“Munni Munni and Elizabeth Hill are high-grade representations of two very rare types of mineralising events that both demonstrate the necessary characteristics required for significant metal accumulation. Work will now start in earnest on both projects in parallel with the continued move towards iron ore production in Western Australia.”
As part of McIllree’s appointment, Alien plans to issue him 230 million warrants, representing about 4.83% of the company's shares.