**Summary**
Alien Metals Limited (AIMUFO) has conditionally secured a joint venture (JV) partner, GreenTech Metals Limited (ASX: GRE), for its Munni Munni Platinum Group Metals (PGM) Project in Western Australia. The agreement involves GreenTech acquiring a 70% interest in the project, with Alien retaining a 30% free-carried interest until the completion of a bankable feasibility study. The transaction includes a cash payment of A$0.5 million to Alien and the issuance of 47 million GreenTech shares, valued at A$3.34 million based on recent share prices. GreenTech will fund all exploration and development costs, allowing Alien to benefit from potential upside without further financial commitment.
The deal is subject to several conditions, including GreenTech completing a A$3 million capital raise, obtaining shareholder approval, and executing various technical agreements. GreenTech also has the option to acquire an additional 10% interest in the project within 12 months under specific conditions. The transaction aligns with Aliens strategy of advancing its asset base while selectively monetizing opportunities to maximize shareholder value.
The Munni Munni Project, located in the Pilbara region, is one of Australias most significant PGE intrusions, with a historic non-JORC resource of 24Mt at 2.9 g/t 4E PGE (2.2Moz). GreenTech plans to upgrade the resource to JORC standards, expand drilling, conduct mining studies, and explore additional prospects. This partnership positions Alien to benefit from both its retained interest and its shareholding in GreenTech, while GreenTech gains access to a large, underexplored PGM asset with significant growth potential.