Alien Metals Ltd, a global minerals exploration and development company, has received a 'no objection' letter from the Australian Foreign Investment Review Board (FIRB) in relation to the company's acquisition of a 100% interest in the Munni Munni Platinum Group Metals and Gold Project in the West Pilbara, Western Australia. As announced on 24 November 2021, the Munni Munni Project is currently subject to a joint venture between Arte-mis Resources Ltd and Platina Resources Ltd.
The 'no objection' from FIRB was one of the key conditions precedent to the acquisition, as referenced in the company's announcement on 21 January 2022, with the company planning to satisfy the remaining condi-tions in the coming weeks.
Bill Brodie Good, CEO and Technical Director of Alien Metals, commented: “Receiving FIRB approval from the Australian government for the acquisition of the Munni Munni Project satisfies one of the most significant regulatory conditions precedent to the transaction. We are now working on finalising the outstanding aspects to the conditions precedent to be able to complete soonest and start working in earnest on this very exciting pro-ject.”
The Munni Munni Project hosts the largest ultramafic intrusion in the West Pilbara and is one of the biggest undeveloped primary platinum group elements (PGE) resources in Australia.
The historic non-compliant JORC 2004 Resource estimate implied 24 million t at 2.9 g/t PGE and gold for 2.2 million oz PGM, around 95% of this resource estimate was in the measured and indicated categories with the resource hosting 1.14 million oz palladium, 0.83 million oz platinum, 152 000 oz gold and 76 000 oz rhodium.
Read the article online at: https://www.globalminingreview.com/finance-business/28022022/alien-metals-receives-australian-firb-approval-for-munni-munni-project/