Alien Metals raises A$700K from GreenTech stake sale as JV partner secures A$7.5M placement
What's the deal? Alien MetalsDealroom has a profile for this one. Try Dealroom → (AIM: UFO) announced that its joint venture partner at the Munni Munni platinum-palladium-copper-nickel project in Western Australia, GreenTech MetalsDealroom has a profile for this one. Try Dealroom → (ASX: GRE), has raised A$7.5 million through a share placement. The funds will primarily go toward Phase II exploration and development at Munni Munni and GreenTech's Whundo project.
As part of the raise, Alien sold nine million GreenTech shares at A$0.075 each, netting roughly A$700,000 in cash proceeds before costs. It will retain 37.9 million GreenTech shares post-placement — about a 10% stake.
Why now? The placement follows positive recent assay results at Munni Munni and brings GreenTech's total fundraising to over A$12 million in the past six months. That momentum gave GreenTech the window to tap institutional and sophisticated investors for a sizeable raise while interest in Australian critical metals remains strong.
The capital raise will close in two tranches: roughly half issued under GreenTech's existing placement capacity, with the remainder subject to shareholder approval.
What could go wrong? Alien still holds a 30% interest in the Munni Munni project, but it is now a minority shareholder in its JV partner. Dilution from future GreenTech raises could further shrink that position. Phase II exploration carries the usual risks — results may disappoint, timelines may slip, and commodity prices for platinum-group metals and nickel remain volatile.
The signal: GreenTech Metals, which describes itself as exploring and developing critical battery minerals projects, has now raised over A$12 million in six months — a sign that investor appetite for early-growth critical metals explorers in Australia remains robust despite volatile commodity prices. For Alien Metals, itself still at an early growth stage, the partial stake sale is a pragmatic move: converting a paper position into roughly A$700,000 of working capital while retaining a 10% holding and a 30% project interest that keep it exposed to Munni Munni's upside.
Read more: investegate.co.uk
