Proactiveinvestors Australia Alliance Resources Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Alliance Resources Ltd RSS feed en Sat, 20 Jul 2019 09:10:21 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Alliance Resources to outline South Australian gold story at CEO Session ]]> https://www.proactiveinvestors.com.au/companies/news/223639/alliance-resources-to-outline-south-australian-gold-story-at-ceo-session-223639.html Alliance Resources Limited (ASX:AGS) continues to receive high-grade gold results from the Weednanna deposit within the flagship Wilcherry project on South Australia’s Eyre Peninsula.

These results appear certain to add to Weednanna’s resource of 1.097 million tonnes at 5.1 g/t for 181,000 ounces.

Best of the recent intersections was 7 metres at 16.6 g/t from 89 metres, including 3 metres at 32.2 g/t from 89 metres.

The company will outline the results and future plans for Wilcherry during the Proactive CEO Session in Melbourne on Tuesday, July 16.

Further drilling planned

Alliance is planning the next phase of reverse circulation drilling to begin later this month aimed at testing for extensions of gold mineralisation at Shoots 5E, 7 and 8.

This will also infill drill Shoot 9/11 and test for further Shoot 1 style gold mineralisation at the 3DIP target.

Test work underway

The company is also undertaking metallurgical test work on diamond drill core to optimise the processing flowsheet and design of a gold processing facility for the Weednanna deposit.

Next month aircore drilling is expected to start to sterilise a site for proposed mine infrastructure including a gold processing facility, tailings dam, administration buildings, and waste dump.

The Melbourne CEO Session will also feature Cardinal Resources Ltd (ASX:CDV), Predictive Discovery Ltd (ASX:PDI), Legend Mining Ltd (ASX:LEG) and Danakali Ltd (ASX:DNK).

The CEO Session in Sydney the previous day will also feature Cardinal Resources, Predictive Discovery and Legend Mining along with Vango Mining Ltd (ASX:VAN).

Register for the CEO Sessions today

Sydney details, Monday, July 15, 2019

Melbourne details, Tuesday, July 16, 2019

]]>
Wed, 10 Jul 2019 15:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/223639/alliance-resources-to-outline-south-australian-gold-story-at-ceo-session-223639.html
<![CDATA[News - Alliance Resources scoping study confirms positive and robust gold project at Weednanna ]]> https://www.proactiveinvestors.com.au/companies/news/218814/alliance-resources-scoping-study-confirms-positive-and-robust-gold-project-at-weednanna-218814.html Alliance Resources Limited (ASX:AGS) has completed a scoping study that confirms a positive and robust gold project at Weednanna, west of Whyalla in South Australia.

The independent study incorporates a new 250,000 tonnes per annum gold processing plant and tailings storage facility (TSF) with approximate capital costs of $36 million.

This study was completed by Mining One Pty Ltd and was designed to examine the potential viability of the mineral resources at the project to support the construction.

Alliance managing director Steve Johnston said: “The directors are delighted with the results of the study and have determined that the outcomes provide strong encouragement for Alliance to commit to the next stage of its exploration and development program.

“To this end the company advises that drilling, to extend the mineral resource and to infill the inferred mineral resources in order to increase the ratio of indicated mineral resources, has already commenced.”

Using the mineral resource estimate recorded in 2018, Mining One conducted open pit and underground mine designed and schedules to a scoping level of accuracy.

The surface infrastructure has been located outside the foorpritnt of the former conceptual iron pit of previous tenement holder Ironclad Mining Ltd, to ensure the iron resource remains an option to be mined in the future.

The process plant and tailing storage facility (TSF) are also located outside a nominal 600 metres radius blast exclusion zone.

Next steps

Given the positive outcomes of the study, the company has begun further drilling to:

Infill the inferred mineral resources in order to increase the classification to indicated mineral resources; and Define the limits of and extend the existing gold shoots and explore for new gold shoots within the deposit.

The aim of this work is to develop knowledge of the deposit to a level which will support a higher level study, to increase mineral resources and to commence the project approvals process.

This work program is expected to take 12 months to complete.

]]>
Thu, 18 Apr 2019 13:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218814/alliance-resources-scoping-study-confirms-positive-and-robust-gold-project-at-weednanna-218814.html
<![CDATA[News - Alliance Resources drills high-grade gold at Wilcherry joint venture ]]> https://www.proactiveinvestors.com.au/companies/news/176188/alliance-resources-drills-high-grade-gold-at-wilcherry-joint-venture-176188.html Alliance Resources (ASX:AGS) has received high-grade gold results from a drilling program at the Wilcherry Project Joint Venture, 100 kilometres northwest of Whyalla in South Australia.

The Wilcherry Project is a joint venture between Alliance (51%) and Tyranna Resources (ASX:TYX) (49%).

The drilling was designed to test the strike, dip and plunge continuity of three possible high-grade gold mineralised shoots referred to as Targets 1, 2 and 3 at the Weednanna gold prospect.

A total of 24 reverse circulation holes were completed for 3,920 metres at Targets 1, 2 and 3. The results include:

- 49 metres at 6.3 g/t gold from 45 metres;
- 14 metres at 36.1 g/t gold from 118 metres; and
- 2 metres at 61.1 g/t gold from 167 metres.

These results confirm high-grade gold mineralisation at Weednanna and support the joint venture’s initial exploration objectives.

The current exploration program led by Alliance includes re-logging all available reverse circulation chips and diamond core from Weednanna.

Alliance’s objectives include identifying structural controls on the distribution of gold, constructing a 3D geological model of the prospect, and planning further exploration with a view towards defining a mineral resource.

The company has planned a further program of drilling to test for extensions to, and infill, high grade gold intersections at Targets 1, 2 and 3 returned from the recent drilling program.

This drilling will follow the drilling to test electromagnetic conductors at the Zealous and Telephone Dam prospects (8 holes for 2,350 metres) scheduled in May 2017.

Alliance’s share price increased circa 22% during the past three months, last trading at $0.099.

]]>
Mon, 10 Apr 2017 12:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/176188/alliance-resources-drills-high-grade-gold-at-wilcherry-joint-venture-176188.html
<![CDATA[News - Alliance Resources Ltd to reveal transaction with another ASX listed entity ]]> https://www.proactiveinvestors.com.au/companies/news/166201/alliance-resources-ltd-to-reveal-transaction-with-another-asx-listed-entity-71136.html Alliance Resources Ltd (ASX:AGS) has been granted a trading halt this morning, pending details of a transaction with another ASX listed entity.

The halt will remain in place until the opening of trade on Friday 23rd September 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 21 Sep 2016 13:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/166201/alliance-resources-ltd-to-reveal-transaction-with-another-asx-listed-entity-71136.html
<![CDATA[News - Alliance Resources, King River Copper among the biggest ASX% Gainers intra-day ]]> https://www.proactiveinvestors.com.au/companies/news/148197/alliance-resources-king-river-copper-among-the-biggest-asx-gainers-intra-day-60852.html Monday’s leading ASX % Gainers intra-day.

NameCodeLastChangeVolume Alliance Resources ASX:AGS $0.105 64.1% 4,660,922 Augur Resources ASX:AUK $0.023 43.8% 30,000 King River Copper ASX:KRC $0.03 36.4% 639,995 Raya Group ASX:RYG $0.008 33.3% 125,000 Medibio Limited ASX:MEB $0.004 33.3% 2,468,000 IPB Petroleum ASX:IPB $0.02 33.3% 100,000 Rimfire Pacific ASX:RIM $0.015 25% 60,000 SciGen Limited ASX:SIE $0.01 25% 24,000 Platina Resources ASX:PGM $0.082 24.2% 18,000 Jervois Mining ASX:JRV $0.11 22.2% 562,387

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 23 Feb 2015 13:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148197/alliance-resources-king-river-copper-among-the-biggest-asx-gainers-intra-day-60852.html
<![CDATA[News - Alliance Resources secures loan facility ]]> https://www.proactiveinvestors.com.au/companies/news/148196/alliance-resources-secures-loan-facility-59461.html Alliance Resources (ASX:AGS) has secured a $1,278,184 loan facility from Gandel Metals, a company related to its director Ian Gandel.

Funds from the loan have been used to assist Alliance Craton Explorer meet the November cash-call for the Four Mile Uranium Project in South Australia.

The company is conducting a 2 for 11 non-renounceable rights issue priced at $0.08 per share to raise up to $4.96 million.

This includes one free attaching option exercisable at $0.15 each and expiring on 30 September 2015 for every share subscribed.

If the take-up of shares exceeds 50%, proceeds from the rights issue will be used to repay the loan facility.

Alliance had elected not to contribute to the 2015 program and budget for Four Mile, which started in-situ mining in April 2014.

Production since then has totalled 1,125,476 pounds with Alliance’s share being 281,369 pounds.

September quarter C1 costs were $24.48 per pound.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 09 Dec 2014 09:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148196/alliance-resources-secures-loan-facility-59461.html
<![CDATA[News - Alliance Resources defines high grade copper-uranium at Monardes ]]> https://www.proactiveinvestors.com.au/companies/news/148195/alliance-resources-defines-high-grade-copper-uranium-at-monardes-58472.html Alliance Resources (ASX:AGS) has identified copper and uranium mineralisation from its 100% owned Monardes Project concessions in northern Chile.

This was done from a airborne magnetic and radiometric survey, together with copper and uranium geochemistry at Monardes.

Eight rock chip samples were collected at four outcrop localities within the eastern anomalous unit over a strike length of 1.8 kilometres.

Seven of those eight samples reported anomalous copper and/or uranium, and six returned copper over 10,000 ppm, which was the limit of detection.

Two samples returned uranium over 2,000 ppm, also the limit of detection.

The discovery of high grade uranium and copper mineralisation in a reduced conglomerate within a lower red-bed sandstone sequence represents a previously unrecognised exploration target requiring systematic follow-up.

Additional rock chip sampling has been carried out around known occurrences of uranium and copper to provide information on the source or pathways for the uranium.

Several soil sample traverses were carried out to test for possible soil anomalies signalling continuity of mineralisation between the known mineralised outcrops. Results for these additional samples are awaited.

Further work is planned, including costeaning, drilling and associated sampling and analysis to investigate the continuity, mineralogy and grade of the known mineralisation along strike and down dip.

A detailed geophysical survey was also conducted, targeting a quartz-pebble conglomerate containing a small artisanal excavation for copper, which is locally anomalous with uranium-thorium based on results from a portable spectrometer.

Uranium values are associated with the contact between a basalt and carbonate veining within a coarse grained conglomerate within the otherwise oxidised red-bed environment of the Monardes Formation.

The preliminary results of the airborne radiometric survey have confirmed and extended the potential strike length of the known anomalous unit and identified a second parallel unit around 400 metres west of the known unit.

The combined strike length of the uranium anomalous units is 9 kilometres within Alliance concessions.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 27 Oct 2014 13:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148195/alliance-resources-defines-high-grade-copper-uranium-at-monardes-58472.html
<![CDATA[News - Alliance Resources finds more uranium at Four Mile Project ]]> https://www.proactiveinvestors.com.au/companies/news/148194/alliance-resources-finds-more-uranium-at-four-mile-project-55792.html Alliance Resources (ASX:AGS) has made further uranium intercepts from regional drilling at its Four Mile Project in South Australia.

The majority of the latest eight holes drilled at the southern end of Four Mile Northeast produced significant uranium intersections while two of the eight holes drilled north of Four Mile East were successful.

Significant intersections include:

-    10.9 metres at 0.59% pU3O8;
-    6.7 metres at 0.7% pU3O8; and
-    2 metres at 1.38% pU3O8.

Four Mile is located 550 kilometres north of Adelaide.

It has an estimated Resource of 9.8 million tonnes grading 0.33% U3O8, or 71 million pounds of contained U3O8.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 23 Jun 2014 16:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148194/alliance-resources-finds-more-uranium-at-four-mile-project-55792.html
<![CDATA[News - Alliance Resources, Quasar Resources double uranium strike length at South Australia project ]]> https://www.proactiveinvestors.com.au/companies/news/148193/alliance-resources-quasar-resources-double-uranium-strike-length-at-south-australia-project-52586.html Alliance Resources (ASX: AGS) and Quasar Resources have doubled the strike length of uranium mineralisation at the Four Mile Northeast prospect of its Four Mile Uranium Project in South Australia, after drilling unearthed further high grade uranium intercepts outside the resource envelope.

In what is and continues to be one of the great uranium deposits in Australia - grade wise, mineralisation is still open to the northeast.

Drilling has increased the strike length to about 2,200 metres from the original 1,100 metres.

Notable results include 4.9 metres at 1.83% pU3O8; 4.6 metres at 0.46% pU3O8; and 2.3 metres at 0.89% pU3O8.

The maximum width of mineralisation is about 800 metres and the average width is about 450 metres.

The Four Mile Uranium Project area is located 550 kilometres north of Adelaide in South Australia and has a total Resource of 9.8 million tonnes grading 0.33% U3O8 for 71 million pounds of U3O8.

Alliance has a 25% interest in the project while Quasar, an affiliate of Heathgate Resources, has a 75% stake.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 06 Feb 2014 17:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148193/alliance-resources-quasar-resources-double-uranium-strike-length-at-south-australia-project-52586.html
<![CDATA[News - Alliance Resources: Quasar Resources approves start-up plan for South Australia uranium mine ]]> https://www.proactiveinvestors.com.au/companies/news/148192/alliance-resources-quasar-resources-approves-start-up-plan-for-south-australia-uranium-mine-52394.html Alliance Resources (ASX: AGS) has advised that Quasar Resources, an affiliate of Heathgate Resources, has approved the revised start-up plan and budget for the Four Mile Uranium project in the Frome Basin, South Australia.

In-situ recovery mining operations will start in April 2014 with uranium capture at Heathgate’s Pannikan satellite plant and precipitation, drying and packing at Heathgate’s Beverley processing plant.

Uranium oxide sales are expected to start in July 2014.

Quasar expects to produce 1.886 million pounds of uranium oxide and sales of 1.5 million pounds from 1 November 2013 to 31 December 2014.

Cash expenditure for 2014 are expected to be $76.9 million.

At a cost price of $40.13 per lb uranium oxide, the joint venture expects to make $74 million with an expected selling price of US$44.42 per lb.  However, with an expected lift in the uranium price in 2015/16, this could rise but it would depend on the term of the contracts struck.
 
Cashflow will be a negative $13.5 million though this is expected to become positive in the first half of 2015.

Allliance, which has a 25% interest in the project, voted against the proposal because it considers the parties should construct an appropriately sized stand-alone plant at Four Mile in order to reduce operating costs to the parties.

It also considers some of the costs included in the Budget to be exploration, rather than mining, costs for which Quasar should be solely responsible.

Four Mile is located 550 kilometres north of Adelaide and just 8 kilometres from the Beverley uranium mine.

It has a total Resource of 9.8 million tonnes grading 0.33% U3O8 for 71 million pounds of U3O8.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 31 Jan 2014 17:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148192/alliance-resources-quasar-resources-approves-start-up-plan-for-south-australia-uranium-mine-52394.html
<![CDATA[News - Alliance Resources intercepts more uranium in South Australia ]]> https://www.proactiveinvestors.com.au/companies/news/148191/alliance-resources-intercepts-more-uranium-in-south-australia-51974.html Alliance Resources (ASX: AGS) has made further uranium intercepts of up 3.2 metres at 0.45% pU3O8 from drilling at its Four Mile East project in South Australia.

Other notable results include 3.7 metres at 0.39% pU3O8, 2.6 metres at 0.39% pU3O8 and 10 metres at 0.1% pU3O8.

Uranium mineralisation has now being intersected over a strike length of about 1,100 metres and a maximum width of 800 metres, up from the previous 500 metres.

Mineralisation remains open to the northeast.

Depth to the top of mineralisation varies from 216.8 to 273.4 metres while the average cumulative thickness of intercepts in holes reporting mineralisation is 5.9 metres.

Alliance's partner Quasar Resources has started construction at the Four Mile Uranium project in the Frome Basin, South Australia.

The project has a total Resource of 9.8 million tonnes at 0.33% U3O8 for 71 million pounds of U3O8.

The development involves the capture of uranium at Heathgate Resources’ Pannikan satellite plant with elution, precipitation, drying and packing at Heathgate’s Beverley processing plant.

This is expected to produce 2.128 million pounds of U3O8 over 10 months for cumulative cash expenditure of A$97.8 million.

Four Mile is located 550 kilometres north of Adelaide and just 8 kilometres from the Beverley uranium mine.

Alliance has a 25% interest in the project.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 17 Jan 2014 14:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148191/alliance-resources-intercepts-more-uranium-in-south-australia-51974.html
<![CDATA[News - Alliance Resources intersects high grade uranium at South Australia project ]]> https://www.proactiveinvestors.com.au/companies/news/148190/alliance-resources-intersects-high-grade-uranium-at-south-australia-project-50960.html Alliance Resources (ASX: AGS) has made high grade uranium intersections of up to 7 metres at 1.19% pU3O8 from delineation drilling at its Four Mile East project in South Australia.

Uranium mineralisation has been intersected over a strike length of about 1,100 metres and a maximum width of about 500 metres.

Depth to the top of mineralisation varies from 216.8 metres to 258.9 metres while the average cumulative thickness of intercepts in holes reporting mineralisation is 6.8 metres.

Alliance's partner Quasar Resources has started construction at the Four Mile Uranium project in the Frome Basin, South Australia.

The project has a total Resource of 9.8 million tonnes at 0.33% U3O8 for 71 million pounds of U3O8.

The development involves the capture of uranium at Heathgate Resources’ Pannikan satellite plant with elution, precipitation, drying and packing at Heathgate’s Beverley processing plant.

This is expected to produce 2.128 million pounds of U3O8 over 10 months for cumulative cash expenditure of A$97.8 million.

Four Mile is located 550 kilometres north of Adelaide and just 8 kilometres from the Beverley uranium mine.

Alliance has a 25% interest in the project.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 06 Dec 2013 12:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148190/alliance-resources-intersects-high-grade-uranium-at-south-australia-project-50960.html
<![CDATA[News - Alliance Resources' shares tick higher on firm volume ]]> https://www.proactiveinvestors.com.au/companies/news/148189/alliance-resources-shares-tick-higher-on-firm-volume-50868.html Alliance Resources (ASX: AGS) ended Tuesday's trading session 16.7% higher following one million shares changes hands.

Yesterday's daily volume was the highest in several months.

Alliance's partner Quasar Resources has started construction at the Four Mile Uranium project in the Frome Basin, South Australia.

The project has a total Resource of 9.8 million tonnes at 0.33% U3O8 for 71 million pounds of U3O8.

The development involves the capture of uranium at Heathgate Resources’ Pannikan satellite plant with elution, precipitation, drying and packing at Heathgate’s Beverley processing plant.

This is expected to produce 2.128 million pounds of U3O8 over 10 months for cumulative cash expenditure of A$97.8 million.

Four Mile is located 550 kilometres north of Adelaide and just 8 kilometres from the Beverley uranium mine.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 04 Dec 2013 10:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148189/alliance-resources-shares-tick-higher-on-firm-volume-50868.html
<![CDATA[News - Alliance Resources: Quasar starts construction at South Australia uranium mine ]]> https://www.proactiveinvestors.com.au/companies/news/148188/alliance-resources-quasar-starts-construction-at-south-australia-uranium-mine-50837.html Alliance Resources (ASX: AGS) has been advised by Quasar Resources that construction has started at the Four Mile Uranium project in the Frome Basin, South Australia.

Four Mile is located 550 kilometres north of Adelaide and just 8 kilometres from the Beverley uranium mine.

It has a total Resource of 9.8 million tonnes grading 0.33% U3O8 for 71 million pounds of U3O8.

The development involves the capture of uranium at Heathgate Resources’ Pannikan satellite plant with elution, precipitation, drying and packing at Heathgate’s Beverley processing plant.

This is expected to produce 2.128 million pounds of U3O8 over 10 months for cumulative cash expenditure of A$97.8 million.

Quasar has advised that an updated schedule of activities and cash flow projections to reflect the delays in securing government approvals to enable construction at Four Mile will be provided to Alliance shortly.

Alliance has a 25% interest in the project.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 03 Dec 2013 18:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148188/alliance-resources-quasar-starts-construction-at-south-australia-uranium-mine-50837.html
<![CDATA[News - Alliance Resources' on a tear ]]> https://www.proactiveinvestors.com.au/companies/news/148187/alliance-resources-on-a-tear-45923.html Alliance Resources (ASX: AGS) has received an ASX price query 'please explain' today following the company's shares soaring 46% intra-day to $0.175, compared to the closing price last Thursday.

Alliance responded that it is not aware of any information not announced which would explain the sudden investor interest.

The company has the potential to be a near-term Australian uranium producer, with its main asset 25% equity in the Four Mile Uranium Project, which hosts 71Mlb U3O8 contained in Indicated + Inferred Resources. The Alliance share is around 18Mlb U3O8.

Four Mile has the potential to be one of the largest and highest grade in-situ recovery uranium mines in the world, and is located 550 kilometres NNE of Adelaide in South Australia.

Quasar Resources P/L holds 75% and is manager. Affiliate of Heathgate Resources Pty Ltd,  owner and operator of the Beverley uranium mine. Assumed 100% of costs on Four Mile project up to its ‘decision to mine’ in late 2008.

The project has been estimated to have a life of 15 years or more.

Alliance had net cash of A$27.5 million at the end of March 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 24 Jul 2013 15:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148187/alliance-resources-on-a-tear-45923.html
<![CDATA[News - Alliance Resources completes drilling for copper gold targets at Warrina project ]]> https://www.proactiveinvestors.com.au/companies/news/148186/alliance-resources-completes-drilling-for-copper-gold-targets-at-warrina-project-43254.html Alliance Resources (ASX:AGS) has completed drilling at the BigNE prospect magnetotelluric conductor at its Warrina project in South Australia, where it is targeting Olympic Dam style breccia hosted iron oxide gold copper mineralisation.

An existing hole was re-entered last month and extended by diamond coring from 846 metres to 1,165 metres depth.

The hole revealed a sequence of northeast dipping banded metapelites, metapsammites and calc-silicate gneisses with thin magnetite and graphite laminae throughout and a massive graphitic unit from 1040.1-1080.3 metres, 1107-1147.9 metres and 1159 metres to end of hole.

The core is yet to be sampled for geochemical analyses and petrology.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 14 May 2013 17:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148186/alliance-resources-completes-drilling-for-copper-gold-targets-at-warrina-project-43254.html
<![CDATA[News - Alliance Resources starts drilling for copper-gold at Warrina project ]]> https://www.proactiveinvestors.com.au/companies/news/148185/alliance-resources-starts-drilling-for-copper-gold-at-warrina-project-41964.html Alliance Resources (ASX:AGS) has started drilling to test the BigNE prospect for copper-gold anomalies at the Warrina project in South Australia.

Alliance is targeting Olympic Dam style breccia-hosted iron-oxide copper-gold mineralisation.

An existing hole has been re-entered and is being cleaned out to end of hole at 846 metres. The hole will then be extended by diamond coring to 1,200 metres depth, with a daughter hole likely to be drilled from within towards the south east to intercept the conductor at about 750 metres vertical depth.

The BigNE prospect is a very large geophysical target located in the eastern half of EL4802 in the Gawler province that is characterised by an isolated magnetic high that trends northeast for over 10 kilometres. It is associated with a significant offset gravity anomaly and magneto telluric conductor.

Previous experimental induced polarisation line over the BigNE area gravity-magnetic conductors was done in 2012, and the results indicated anomalous IP chargeability.

Earlier drilling found discontinuous intervals of anomalous copper associated with hematite-carbonate veins, breccia with veins holding sulphide mineralisation.

It had a cash balance of 27.9 million at the end of the December quarter against a market capitalisation of $53 million, giving its shares a cash backing of $0.081 a share.

Alliance shares were quoted at $0.155.
 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 12 Apr 2013 11:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148185/alliance-resources-starts-drilling-for-copper-gold-at-warrina-project-41964.html
<![CDATA[News - Alliance Resources votes against Four Mile Uranium Project start up plan ]]> https://www.proactiveinvestors.com.au/companies/news/148184/alliance-resources-votes-against-four-mile-uranium-project-start-up-plan--34921.html Alliance Resources (ASX: AGS) has revealed that a decision has been made to recommence the development of the Four Mile Uranium Project in South Australia despite the company voting against the proposed start-up plan.

The project is held in joint venture between Quasar Resources (75%) and Alliance Craton Explorer (25%).

Quasar voted its 75% interest in favour of its own start-up plan while Alliance voted its 25% interest against the plan.

The start-up plan comprises:

- Uranium capture at Heathgate Resources’ Pannikan satellite plant with elution, precipitation, drying and packing at Heathgate’s Beverley processing plant;
- In-situ recovery (ISR) mining operations commencing at Four Mile East in the June quarter of 2013 and at Four Mile West in the December quarter of 2013; and
- First uranium sales in the September quarter of 2013.

Quasar’s program and budget runs for 16 months from now and includes the production of 2.1 million pounds of uranium oxide, for sales of 1.3 million pounds.

Cumulative cash expenditure to the end of 2013 will be A$97.8 million, of which Alliance’s share will be A$24.45 million.

Cash operating costs are budgeted to be A$25.461 per pounds of uranium oxide, excluding wellfield development costs, or A$40.332 per pound of uranium oxide, inclusive of wellfield development costs.

Sale prices are forecast to be US$62.58 per pound uranium oxide for 2013.

Quasar has also outlined A$12 million of regional delineation drilling.

The start-up plan is designed as a staged commencement of mining operations to permit actual production rates to be considered before full-scale production facilities are constructed.

Alliance, however, believes the construction of an appropriately sized stand-alone plant at Four Mile will produce a better outcome for the company.

Legal action against Quasar and Heathgate by Alliance is ongoing.

The Four Mile project is one of the highest grade and potentially most profitable mines in Australia with a rich endowment of 71 million pounds of contained uranium.

It has the potential to be one of the largest producing and highest grade in-situ recovery uranium mines in the world.


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

]]>
Thu, 25 Oct 2012 08:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148184/alliance-resources-votes-against-four-mile-uranium-project-start-up-plan--34921.html
<![CDATA[News - Alliance Resources: Itochu Corporation to take strategic 14.9% interest ]]> https://www.proactiveinvestors.com.au/companies/news/148183/alliance-resources-itochu-corporation-to-take-strategic-149-interest-29197.html Alliance Resources (ASX: AGS) has caught the attention of Japan’s Itochu Corporation with the pair set to form a strategic partnership in which Itochu can acquire a 14.9% equity interest in Alliance or wholly owned subsidiary Alliance Craton Explorer.

Itochu Corporation is a major global uranium trader with extensive interests in the uranium sector.

The Fortune Global 500 company has a net income in excess of A$3.7 billion and a market cap. of around $16 billion.

In addition to securing a 14.9% interest, Itochu also has the option to acquire a further 25.1% of equity in Alliance Craton Explorer.

The importance of this agreement is that if Itochu elects to subscribe for a 14.9% interest as well as exercise the option to acquire an additional 25.1%, Alliance will be fully funded for the construction of a standalone in-situ recovery and uranium processing plant at the Four Mile Project.

The Four Mile Project, in which Alliance holds a 25% interest, is located 550 kilometres north of Adelaide in South Australia.

The project comprises two large, high grade deposits which host an Indicated and Inferred Resource of 9.8 million tonnes at 0.33% for 71 million pounds of contained uranium.


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

]]>
Wed, 23 May 2012 15:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148183/alliance-resources-itochu-corporation-to-take-strategic-149-interest-29197.html
<![CDATA[News - Alliance Resources shares spike 21% on grant of Four Mile Uranium mineral lease ]]> https://www.proactiveinvestors.com.au/companies/news/148182/alliance-resources-shares-spike-21-on-grant-of-four-mile-uranium-mineral-lease-28194.html Alliance Resources (ASX: AGS) has been granted a 10 year mineral lease for the Four Mile Uranium Project in South Australia, sending the company’s share price 21.8% higher to close at A$0.39.

More than 5.7 million shares changed hands on the news.

The Four Mile project is the one of the highest grade and potentially most profitable mines in Australia with a rich endowment of 71 million pounds of contained uranium.

It has potential to be one of the largest producing and highest grade In-Situ-Recovery (ISR) mines in the world.

Alliance holds a 25% interest in Four Mile and has A$33.5 million in cash as of the end of the December 2011 quarter though it will not have to dip into this until a decision to mine is made thanks to a free carry by Quasar Resources (75%).



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

]]>
Fri, 27 Apr 2012 17:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148182/alliance-resources-shares-spike-21-on-grant-of-four-mile-uranium-mineral-lease-28194.html
<![CDATA[News - Alliance Resources a clear favourite as it steps closer to mining Four Mile uranium project ]]> https://www.proactiveinvestors.com.au/companies/news/148181/alliance-resources-a-clear-favourite-as-it-steps-closer-to-mining-four-mile-uranium-project-25528.html Alliance Resources (ASX:AGS) is amongst the top gainers today with its share price soaring 22.92% to A$0.59 after receiving an offer for a 10 year mineral lease over the Four Mile uranium project in South Australia.

Close to 6.5 million shares traded hands as investors cheered the progress the project – one of the highest grade and potentially most profitable mines in Australia with a rich endowment of 71 million pounds of contained U3O8 (Alliance share 17.75 million pounds) – is making towards uranium production.

Litigation over the native title agreement was settled earlier this month while the long-running litigation with joint venture partner Quasar Resources, an affiliate of Heathgate Resources, was settled in early December 2011.

Quasar had originally proposed an in situ mine capable of producing 3 million pounds of U308 per annum.

Much of heavily lifting would be done at Heathgate’s nearby Beverly uranium mine to reduce costs.

Quasar and Alliance now have to advise the South Australian Mining Registrar that they are prepared to accept a mineral lease under the terms and conditions offered.

Alliance holds a 25% interest in Four Mile and has A$33.5 million in cash as of the end of the December 2011 quarter though it will not have to dip into this until a decision to mine is made thanks to a free carry by Quasar.

]]>
Mon, 20 Feb 2012 17:14:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148181/alliance-resources-a-clear-favourite-as-it-steps-closer-to-mining-four-mile-uranium-project-25528.html
<![CDATA[News - Alliance Resources receives early Xmas present, end of litigation over Four Mile Uranium Project ]]> https://www.proactiveinvestors.com.au/companies/news/148179/alliance-resources-receives-early-xmas-present-end-of-litigation-over-four-mile-uranium-project-23061.html Christmas may have arrived early for Alliance Resources (ASX: AGS) with news the long-running litigation with its joint venture partner, the US group Heathgate (75 per cent), has been settled.

The terms of the settlement are otherwise confidential but should allow the project to move ahead.

It is a long way back for Alliance given it once traded as high at $2.60. The share price has jumped 78% on the news which is a good start.

The Four Mile Uranium Project in South Australia, with a rich endowment of 71 million pounds of contained U3O8 (Alliance share 17.75Mlb U3O8) is one of the highest grade and potentially most profitable mines in Australia.

It has potential to be one of the largest producing and highest grade In-Situ-Recovery (ISR) mines in the world.

Alliance is also handily sitting on net cash of $34.5 million which implies that $0.10 of the company's share price is cash.

There is likely to be positive support for Four Mile Project – at both State and Federal government levels.

]]>
Tue, 06 Dec 2011 09:17:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148179/alliance-resources-receives-early-xmas-present-end-of-litigation-over-four-mile-uranium-project-23061.html
<![CDATA[News - Alliance Resources appoints new MD, seeks to resolve legal matters ]]> https://www.proactiveinvestors.com.au/companies/news/148178/alliance-resources-appoints-new-md-seeks-to-resolve-legal-matters-20938.html Alliance Resources (ASX:AGS) has appointed Stephen Johnston as managing director of the uranium explorer as it seeks a solution to the "current legal matters facing the company and developing the Four Mile Uranium Project."

He has been employed by Alliance since 2003 in varying capacities including as general manager and chief executive officer.

The Four Mile Uranium Project area is located 550 kilometres north of Adelaide in South Australia.

Alliance’s 100% owned subsidiary, Alliance Craton Explorer Pty Ltd (ACE) is the registered holder of 25% of EL3666. Quasar Resources Pty Ltd (Quasar) is the registered holder of the remaining 75% and is the manager of the Project.

Interestingly, Alliance had a very tidy cash balance of $34.76 million as at 30 June 2011.  Alliance also holds 22,000,000 ordinary shares in Octagonal Resources (ASX: ORS)  which equates to 22% of Octagonal’s issued share capital.

Based on the two, cash and liquids account for over $0.10 of Alliance's share price.  Alliance last traded at $0.14.

]]>
Wed, 19 Oct 2011 15:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148178/alliance-resources-appoints-new-md-seeks-to-resolve-legal-matters-20938.html
<![CDATA[News - Alliance Resources Patrick Mutz addresses Mining 2009 on upside of Four Mile uranium project ]]> https://www.proactiveinvestors.com.au/companies/news/148176/alliance-resources-patrick-mutz-addresses-mining-2009-on-upside-of-four-mile-uranium-project-3047.html Patrick Mutz, managing director of Australian uranium company Alliance Resources (ASX: AGS) told Mining 2009 delegates and investors, the Four Mile uranium project in South Australia "ticked alot of wonderful boxes."

Alliance owns a 25% participating interest in the project with Quasar Resources, affiliate of Heathgate Resources, which owns and operates the nearby Beverly uranium mine, owner of 75% of the project.

The mining convention in Brisbane learnt the JV planned to piggy-back on the back of as much of the Beverly uranium project as possible, which would reduce costs.  The planned In Situ Recovery (ISR) technology, which is used in 29% of uranium production in the world was already a low cost proven technology for planned production at Four Mile.

Four Mile had a uranium grade seven times higher than the much vaunted highest grade ISR uranium mines in Kazakhstan.

Although typical recovery using ISR is about 70%, Mutz said "70% recoveries will be surpassed" in Phase II at Four Mile.

In situ leaching (ISL), also known as solution mining, or in situ recovery (ISR), involves leaving the ore where it is in the ground, and recovering the minerals from it by dissolving them and pumping the pregnant solution to the surface - where the minerals can be recovered.

Consequently there is little surface disturbance and no tailings or waste rock generated.

Cash costs at Four Mile were estimated at US$35/lb.  This compared to a long term uranium contract price of US$65/lb, enabling a "very good margin for this project".

Project costs, while increasing to A$120 million from $90 million, (Alliance's share was $28 million) were still on the low side for a project that had one of the highest grade uranium deposits in the world and one of the largest producing mines, when on-stream.

In Australia, only Olympic Dam and Ranger Uranium mines were larger in tonnage, although Ranger had a lower grade at 0.24% than Four Mile's 28,000 tonnes @ 0.35%. 

The project was still due on-stream in 2010, despite some delays.  A State mining permit was still awaited.

Patrick Mutz said he was confident on additional uranium discoveries at Four Mile deposits, with more resource to come due to the geology of the area and source trending south from the ranges.  The project had a possible 50,000 tonnes resource and more, the conference was told.

 

 

]]>
Wed, 28 Oct 2009 15:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148176/alliance-resources-patrick-mutz-addresses-mining-2009-on-upside-of-four-mile-uranium-project-3047.html
<![CDATA[News - Alliance Gold sells Maldon Gold to focus on Four Mile uranium ]]> https://www.proactiveinvestors.com.au/companies/news/148175/alliance-gold-sells-maldon-gold-to-focus-on-four-mile-uranium-2902.html Alliance Resources (ASX: AGS) has entered into an agreement to offload uranium and gold producer Maldon Resources to Drummond Gold.

The agreement will allow Alliance to focus on the Four Mile uranium project, located 550 kilometres north of Adelaide in South Australia.

Alliance managing director Patrick Mutz said the transaction was a win-win for both companies. Under the agreement Alliance will receive 88.4 million ordinary shares in Drummond for the sale of Maldon.

The consideration for the transaction was based on a share price of 6.1 cents.

The agreement is subject to certain terms and conditions, including the approval of shareholders of Drummond, all necessary consents and approvals as required under the Corporations Act and the ASX Listing Rules, and the raising of at least $3 million by Drummond on or before 30 November 2009.

The Maldon Gold Project is 30 km southwest of Bendigo and has produced historically a total of 1.75 million ounces of gold at an average grade of 28 g/t.

Alliance undertook major development work at Maldon aimed at bringing the Alliance South gold lode into production, however, development was suspended late last year to conserve cash to meet Alliance’s commitments to the Four Mile Uranium Project.

The decline and other mine infrastructure are fully maintained and the project also includes an operational-ready CIL gold treatment plant.

The combined mineral resource inventory for Four Mile East and West deposits is 61 million pounds U3O8 (28,000 tonnes) at an average grade of 0.35% (3,500 ppm) U3O8.

]]>
Fri, 16 Oct 2009 13:55:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148175/alliance-gold-sells-maldon-gold-to-focus-on-four-mile-uranium-2902.html
<![CDATA[News - Alliance Resources reports development schedule delayed for Four Mile uranium project ]]> https://www.proactiveinvestors.com.au/companies/news/148173/alliance-resources-reports-development-schedule-delayed-for-four-mile-uranium-project-2618.html Commissioning of the Four Mile uranium project in South Australia has been delayed until April 2010 or beyond, one of the project’s developers Alliance Resources (ASX: AGS) has notified.

Melbourne-based Alliance told the ASX that its Four Mile joint venture partner and the project’s manager Quasar Resources advised that it had been unable to begin on-site construction as the Four Mile mining lease had not yet been granted.

The mining lease approval by PIRSA was pending registration of the Native Title Mining Agreement covering the proposed Four Mile uranium mine.

]]>
Tue, 22 Sep 2009 06:38:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148173/alliance-resources-reports-development-schedule-delayed-for-four-mile-uranium-project-2618.html
<![CDATA[News - Alliance Resources big winner as mining minister approves Australia's fourth uranium mine ]]> https://www.proactiveinvestors.com.au/companies/news/148171/alliance-resources-big-winner-as-mining-minister-approves-australias-fourth-uranium-mine-1985.html Junior partner in the Four Mile uranium project, Alliance Resources (ASX: AGS) announced today that Canberra had approved the development of Four Mile, a major discovery in the shadow of the Flinders Range in South Australia's north.

The project is a joint venture between 25% owner Alliance Resources and Quasar Resources, the exploration arm of Heathgate Resources which operates the nearby Beverley in-situ recovery (ISR) uranium mine. Heathgate is owned by the diverse United States company General Atomics.

While the uranium boom has thrown up many contenders to be the next cab off the Australian uranium rank, Four Mile was the clear leader - given the dramatic growth of reserves and being on the doorstep of the major owner's ISR plant.

The Four Mile West deposit has a reserve of 3.9 million lbs grading 0.37% uranium oxide for 32 million lbs of contained U308. The larger Four Mile East target is less intensely drilled and does not have an established reserve.

The blueprint is to bring Four Mile into production in 2010, initially at 1.5 million lbs U308 per annum, then doubling and on commissioning the Four Mile East area output could rise to 4.5 million lbs pa.

Peter Garrett's statement today could hardly be described as effusive, despite the fact the Australian Government and the pro mining State of South Australia want to see more mining projects to help arrest the country from sliding into recession.

"I have not taken this decision lightly," Garrett said.

"As with all proposals examined under national environmental law, this mine was subject to a comprehensive, scientifically-robust and transparent assessment process."

He said he has imposed some stringent conditions, including a rigorous monitoring reqime to "demonstrate the agreed environmental outcomes are being met by the mine operators."

Processing waste disposal from the new mine would occur at the existing Beverley mine.

 

Mineweb is a web-based international mining publication focusing on mining financial and corporate news and comment.

]]>
Wed, 15 Jul 2009 06:53:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148171/alliance-resources-big-winner-as-mining-minister-approves-australias-fourth-uranium-mine-1985.html
<![CDATA[News - Alliance Resources raises further $8.5 million for Four Mile Uranium Project ]]> https://www.proactiveinvestors.com.au/companies/news/148170/alliance-resources-raises-further-85-million-for-four-mile-uranium-project--1883.html Alliance Resources (ASX: AGS) has placed the shortfall of 12.5 million ordinary shares from its 1:12 rights issue at 68 cents.

Major AGS shareholder Abbotsleigh was a substantial participant in the shortfall placement.

Shortfall placement has been completed and raised over $8.5 million.  Total funds raised from the placement and rights issue including shortfall placement totalled $44.7 million.

Funds raised will be used for AGS's share of development and operating costs at the Four Mile Uranium Joint Venture Project in South Australia.  This is planned to commence production in 2010.

AGS believes it is now fully funded to receipt of first revenue from sale of uranium from Four Mile.

The Four Mile uranium joint venture project in South Australia will become the next major global uranium producer in January 2010. Alliance shares were up 10%.

At the Four Mile Project, the inferred mineral resource estimate has increased to 61 million pounds of uranium oxide grading 0.35% or 3500 parts per million uranium oxide - an increase of 90%.

Recently, a maiden resource estimate was released for the Four Mile East deposit.  It has an initial resource of 4.1 million tonnes grading 0.31% uranium oxide for 29Mlb of uranium oxide.

Alliance Managing Director Patrick Mutz said that the project had the potential to be the highest grade and largest in-situ recovery operation in the world.

]]>
Thu, 02 Jul 2009 10:07:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148170/alliance-resources-raises-further-85-million-for-four-mile-uranium-project--1883.html
<![CDATA[News - Is Alliance Resources undervalued based on Four Mile Uranium project upgrade? ]]> https://www.proactiveinvestors.com.au/companies/news/148168/is-alliance-resources-undervalued-based-on-four-mile-uranium-project-upgrade-1822.html Alliance Resources (ASX: AGS) unveiled the news the market was waiting for, and the shot in the arm the uranium market needed.

The Four Mile uranium joint venture project in South Australia will become the next major global uranium producer in January 2010. Alliance shares were up 10%.

At the Four Mile Project, the inferred mineral resource estimate has increased to 61 million pounds of uranium oxide grading 0.35% or 3500 parts per million uranium oxide - an increase of 90%.

The reason for the large increase? A maiden resource estimate for the Four Mile East deposit.  It has an initial resource of 4.1 million tonnes grading 0.31% uranium oxide for 29Mlb of uranium oxide.

Alliance has a 25% interest in the project and will provide $22.5 million in funding. The combined grades from Four Mile East and Four Mile West have the potential to make the Four Mile uranium project the highest-grade operating uranium mine in Australia.

Alliance managing director Patrick Mutz said that the project had the potential to be the highest grade and largest in-situ recovery operation in the world.

Drilling at Alliance Resources' Four Mile uranium joint venture with Quasar Resources.

Production at Four Mile in January 2010 will commence at an initial rate of 2.6Mlb per annum, before increasing to 3Mlbpa within three months.

The project has estimated development costs of $A90 million.

Quasar Resources, affiliate of Beverley uranium mine owner Heathgate Resources, holds the remaining stake in Four Mile and is the manager of the JV.

]]>
Thu, 25 Jun 2009 11:12:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148168/is-alliance-resources-undervalued-based-on-four-mile-uranium-project-upgrade-1822.html
<![CDATA[News - Alliance Resources makes first payment toward development at Four Mile Uranium Project ]]> https://www.proactiveinvestors.com.au/companies/news/148165/alliance-resources-makes-first-payment-toward-development-at-four-mile-uranium-project-0682.html Alliance Resources (ASX:AGS) has made its first payment towards the cost of development of uranium mining at Four Mile East Project in South Australia.  The payment amount was $1,013,410.  Production is forecast by Quasar to commence in January 2010 and ramp up to 3Mlb per annum in three months. 

Alliance has commissioned an expanded independent mineral resource study in accordance with the JORC Code.  The study will include an initial mineral resource estimate for Four Mile East and an updated mineral resource estimate for Four Mile West.  

The expanded study is anticipated to be completed in 1st calendar Quarter 2009. 

Alliance Resources was trading up 10% for the day.

]]>
Mon, 19 Jan 2009 00:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148165/alliance-resources-makes-first-payment-toward-development-at-four-mile-uranium-project-0682.html
<![CDATA[News - Alliance Resource's new uranium hits at Four Mile West ]]> https://www.proactiveinvestors.com.au/companies/news/148163/alliance-resources-new-uranium-hits-at-four-mile-west-0518.html Alliance Resources (ASX:AGS) has reported significant uranium intercepts from drilling at the Four Mile West joint uranium project in South Australia.

Significant uranium intercepts from Four Mile West include:

2.5m @ 0.33% pU3O8 (AK973) 0.9m @ 1.00% pU3O8 (AK974) 1.1m @ 0.47% pU3O8 (AK976) 7.0m @ 1.27% pU3O8 (AKC148) 0.8m @ 0.91% pU3O8 (AKC148) 2.9m @ 0.37% pU3O8 (AKC149) 1.9m @ 0.30% pU3O8 (AKC150)

Mineralisation at Four Mile West remains open to the north, northeast, west and southwest.

The mineral resource estimate for a part of the Four Mile East Deposit is in progress and anticipated to be complete in January 2009. Four Mile West already has an inferred resource of 32 million pounds of uranium.

The Four Mile uranium deposit is part of the Arkaroola project and is operated by Quasar Resources, which holds a 75% stake. Alliance has a 25% free-carried interest.

Four Mile Project is due to be in production by January 2010.

Uranium production from Four Mile is expected to begin at 2.6Mlb of uranium concentrate per annum.

]]>
Mon, 08 Dec 2008 00:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/148163/alliance-resources-new-uranium-hits-at-four-mile-west-0518.html
<![CDATA[News - Alliance Resources gets green light to Mine at Four Mile Uranium Project ]]> https://www.proactiveinvestors.com.au/companies/news/148161/alliance-resources-gets-green-light-to-mine-at-four-mile-uranium-project-0275.html Now that Alliance Resources' Four Mile Uranium Project has been given the green light to “proceed to mine” - first uranium production is likely in early 2010, with estimated production of three million pounds per annum. 

Four Mile Uranium project is perhaps the most significant global uranium discovery in the last 20 years in terms of grade, but also in potential size.  There is potential for over 100 million pounds of uranium oxide at Four Mile.  Mine life could be over 15-20 years.  There is access to existing infrastructure nearby Beverly Uranium Mine.  It is located in pro-mining, pro-uranium South Australia.  AGS’s share of cash flows from Four Mile, place it in the “significantly undervalued” class – even allowing for a portion of borrowings in the funding mix.

The share price of Alliance Resources has been hammered along with most other emerging metal producers.  Reasons for this include the capital raising for AGS - necessary to contribute its 25 per cent share of funding to move Four Mile to production.  Despite the current challenging capital markets, we believe Alliance Resources should be able to obtain funding given the size, quality and early cash flows generated from Four Mile.


Pound for pound, Alliance Resources may just be one of the cheapest exposures to uranium at current beaten down prices in the world.

 

Vital Statistics
ASX Code: AGS
Share Price: A$0.68 (25 September 2008)
52 Week Range: A$0.58  – A$1.96.
Market Capitalisation:  A$185.5m
Shares Outstanding: 272.8m
Options unlisted: 7.7m (at A0.20 – A$1.60 strike)
Ave. Daily Turnover:  0.6m
Index: S&P/ASX 300

 

 

 

Disclaimer


This document is intended solely for the information of the particular person to whom it was provided by Proactive Investors Australia Pty Ltd and should not be relied upon by any other person. Although we believe that the advice and information which this document contains is accurate and reliable, Proactive Investors Australia Pty Ltd Limited has not independently verified information contained in this document which is derived from publicly available sources, directors and proposed directors and management. Proactive Investors Australia Pty Ltd assumes no responsibility for updating any advice, views, opinions, or recommendations contained in this document or for correcting any error or omission which may become apparent after the document has been issued. Proactive Investors Australia Pty Ltd Limited does not give any warranty as to the accuracy, reliability or completeness of advice or information which is contained in this document. Except insofar as liability under any statute cannot be excluded, Proactive Investors Australia Pty Ltd Limited and its directors, employees and consultants do not accept any liability (whether arising in contract, in tort or negligence or otherwise) for any error or omission in this document or for any resulting loss or damage (whether direct, indirect, consequential or otherwise) suffered by the recipient of this document or any other person.


This document has not been written for the specific needs of any particular person and it is not possible to take into account each investor’s individual circumstances and that investors should make their adviser aware of their particular needs before acting on any information or recommendation. Proactive Investors Australia Pty Ltd Limited, its employees, consultants and its associates within the meaning of Chapter 7 of the Corporations Law may receive commissions, underwriting and management fees, calculated at normal client rates, from transactions involving securities referred to in this document and may hold interests in the securities referred to in this document from time to time.
Disclosure of Interest


Proactive Investors Australia Pty Ltd and its associates may have owned shares in the above company as at the date of the report. This position is subject to change without notice.

]]>
Thu, 25 Sep 2008 00:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148161/alliance-resources-gets-green-light-to-mine-at-four-mile-uranium-project-0275.html