logo-loader
viewAlliance Resources Ltd

Alliance Resources secures loan facility

au_australian_dollar350_548544435e7ed.jpg

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.

Quick facts: Alliance Resources Ltd

Price: 0.105 AUD

ASX:AGS
Market: ASX
Market Cap: $16.17 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Alliance Resources Ltd named herein, including the promotion by the Company of Alliance Resources Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

2 min read