Alien Metals' Partner Launches AU$6 Million Placement to Advance Elizabeth Hill Silver Project in Australia

04:42 AM EDT, 09/01/2026 (MT Newswires) -- Alien Metals' (UFO.L) joint venture partner, West Coast Silver, launched an AU$6 million placement to fund further exploration work at the Elizabeth Hill silver project in Australia, according to a Tuesday release. The placement, which drew demand significantly exceeding West Coast Silver's target, was priced at AU$0.095 per share, with completion due Sept. 8. Proceeds will fund exploration and development drilling, geotechnical and metallurgical testwork, an update to the mineral resource estimate, and a scoping study. The London-listed precious and base metals explorer holds a 30% interest in the project and an 8.7% stake in West Coast Silver.