Alien Metals' Potential JV Partner GreenTech Raises Funds for Munni Munni Project

05:28 AM EST, 12/03/2025 (MT Newswires) -- Alien Metals (UFO.L) said Wednesday that GreenTech Metals raised AU$5.2 million through an oversubscribed share placing, meeting a key condition for completing the companies' proposed joint venture on the Munni Munni platinum group metals project in Western Australia. The British mineral explorer and developer's unit, Alien Metals Australia, agreed on Monday to sell a 70% interest in the project in Western Australia to GreenTech for AU$500,000 in cash and 47 million shares. Alien noted that Greentech will use the placement proceeds to immediately start a 20-hole drilling program to support conversion of the project's resource to JORC 2012 standards in early 2026. The deal is scheduled to close within 10 business days after the remaining conditions are satisfied.