Sign up Australia
Proactive Investors - Run By Investors For Investors

Tyranna Resources’ partner Alliance Resources increases stake in Wilcherry

The company’s shares closed circa 7% higher on Monday.
map of South Australia
Tyranna has diluted its interest to 38.64%

Tyranna Resources Ltd’s (ASX:TYX) partner Alliance Resources Ltd (ASX:AGS) has increased its interest in the Wilcherry Project joint venture in South Australia to 61.36%.

Tyranna has now diluted its interest in the Wilcherry Project exploration area to 38.64%.

The current change in interests is a result of Alliance sole funding expenditure for the quarter ended 30 September 2017.

Moreover, Tyranna has elected not to contribute to the FY2018 exploration program totalling circa $3.7 million.

The company’s shares closed circa 7% higher on Monday following the announcement.

READ NEXT: Tyranna Resources drills high-grade gold near the Challenger Gold Mine

Tyranna recently intersected wide, shallow gold zones from stage 2 drilling at the Typhoon Gold Prospect within the Jumbuck Gold Project in South Australia.

The Jumbuck Gold Project is a joint venture between Tyranna and WPG Resources (ASX:WPG), which owns and operates the Challenger gold mine and mill.

Significantly, Tyranna’s raw assay data results from stage 1 and 2 drilling at Typhoon is higher grade than the historical drilling intercepts.

Typhoon therefore has the potential to become a satellite mill feed located less than 40 kilometres from the Challenger Gold Operations.

Tyranna is currently sourcing a diamond drill rig for the next stage of drilling at the Jumbuck Gold Project.

View full TYX profile View Profile

Tyranna Resources Ltd Timeline

Related Articles

1521638862_George-Roach.jpg
March 22 2018
Lithium and tungsten have been to the fore of late, but there are plenty of other strings to Premier African's bow
management
February 14 2018
Berkeley Energia is funded to production, and set to make a significant impact on the uranium market
Montepuez Ruby Project Processing Plant
April 03 2018
The Caula Graphite Vanadium Project could achieve first production by mid-2019.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use