Alien Metals (UFO) H1 2025 earnings summary

Executive summary

• Advanced Hancock Iron Ore Project with two new exploration leases, expanding area by over 50% to 63 km² and increasing exploration target to up to 27Mt at 58–62% Fe.

• Completed joint venture on Elizabeth Hill Silver, receiving ~$0.6m cash and 30.5m WCE shares (~$4m value), retaining 30% interest and free-carried to mine decision.

• Raised £1m via share placement and received an additional £411,000 from warrant exercises post-period.

• Awarded A$120,000 grant for Munni Munni PGM drilling under the Western Australian Exploration Incentive Scheme.

• Board and management changes announced post-period, with new executive appointments and resignations.

Financial highlights

• Operating loss for H1 2025 was $1,245,140, up from $579,000 in H1 2024.

• Basic and diluted loss per share was $0.009 (H1 2024: $0.008).

• Total comprehensive loss was $1,250,000 (H1 2024: $866,000).

• Cash and cash equivalents at period end were $942,000, up from $224,000 at 31 Dec 2024.

• Net assets increased to $17,218,000 from $15,715,000 at 31 Dec 2024.

Outlook and guidance

• Hancock Project advancing toward production, with permitting and engineering ongoing and strategic options under review.

• Silver and PGM markets remain strong, with continued exploration and JV activity at Elizabeth Hill and Munni Munni.

• Diversified asset base and supportive commodity markets underpin a positive outlook for the remainder of 2025.