AGS - Alliance Resources
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Sean K
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The company is quoted as saying that it will be out in Dec Qtr 06.tmallie said:
Sean K
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Yep, Laurie, agree. The wording will need to be such that this JORC is just 10% (or whatever) of the entire project, which is still open in all directions including up!! This is supposed to be the high grade portion though, so it will want to be good.laurie said:yep released knowing my luck at close of business on Fridayit's not so much the actual JORC but what the western zone is hosting and AGS has to word the news such that investors[not me] know it's not the FINAL JORC
cheers laurie
Sean K
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No, I think this is market sensitive and needed to be issued pronto. Poor form on the company in not sticking to their advised dates and they lose some cred in my mind. And, 'early in the new year' gives me no confidence either. Perhaps it's harder to get stuff out of ANSTO than we know....Recovered well from the oversell. Would have been a buying opp perhaps.noobs said:
Sean K
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While I'm disappointed they haven't come through as expected, one thing that is impressive that they are not going to do anything half baked. There's quite a few juniors out there announcing anything positive and ramping things up, while these guys are making sure everything is disclosed so there is no surprises, and they are running on the facts.Rafa said:
Sean K
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I'd say the Quasar/Heathgate dudes are keeping things pretty tight. Pretty handy having a JV partner who is operating a current mine 8km away!noobs said:
geez these AGS shares are ridiculous, many times have i seen these shares drop more then 5% and yet manage to pick itself back up by the end of the day.
I was kind of worried this morning after reading the annoucement and seeing the opening price. Was planning to sell but decided to wait for the coming results. I've read many great things about AGS, just hope they live up to it.
I was kind of worried this morning after reading the annoucement and seeing the opening price. Was planning to sell but decided to wait for the coming results. I've read many great things about AGS, just hope they live up to it.
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Hanging out for big uranium numbers
Barry FitzGerald
January 3, 2007
AdvertisementAdvertisement
AUSTRALIA'S uranium inventory is set to be boosted by an initial resource estimate for the Four Mile discovery in the South Australian outback.
The area is held by Alliance Resources and the US group Heathgate, via its exploration arm Quasar Resources.
Four Mile is so named because that is its distance from Heathgate's Beverley uranium mine.
High-grade uranium hits at Four Mile, and betting by the market that it could eventually prove the biggest uranium deposit of its type in the world, put a rocket under Alliance's share price last year. Its shares rose from 17c at the start of the year to $1.83 by year's end. Yesterday they rose 8c to $1.91, valuing the company at $467 million.
Businessman Ian Gandel controls about 36 per cent of Alliance which, ahead of the 2005 discovery of Four Mile, was best known for its Maldon gold project in Victoria.
Alliance has a 25 per cent free-carried interest in Four Mile. Quasar is the project's operator and a 75 per cent partner in the find. Quasar's parent Heathgate (itself part of US group General Atomics) is the owner-operator of Beverley, which produced 854 tonnes of uranium in 2005-06.
Quasar has been working towards producing a compliant inferred resource estimate for the high-grade part of the Four Mile West zone. The estimate was expected to be released in December but it has been delayed to "early in the new year".
The delay was blamed on hold-ups in chemical analyses from the Australian Nuclear Science and Technology Organisation's laboratories in Lucas Heights, Sydney, and the need to verify the data, Alliance has told the market.
Alliance would not comment yesterday on what the initial resource estimate might be. But in the past it has referred to Four Mile as "Australia's premier uranium discovery".
While the initial resource estimate will be based on a small section of the Four Mile West area which has been drilled on 100 metre by 100 metre spacings, it is the expected high grade of the initial resource estimate that could again fire up market interest in the find.
And while Alliance has not made any estimate on the eventual size of Four Mile, there has been speculation - and that is all it is - that it could eventually weigh in at more than 40,000 tonnes of uranium. That would be equivalent to four years of current Australian production from the Olympic Dam, Ranger and Beverley mines.
Among Australia's undeveloped uranium deposits, only Kintyre (Rio Tinto) and Yeelirrie (BHP Billiton) in Western Australia would rank bigger. Both date from the 1970s uranium exploration boom/bust and are on hold because of the West Australian Labor Government's ban on uranium mining.
cheers laurie
Barry FitzGerald
January 3, 2007
AdvertisementAdvertisement
AUSTRALIA'S uranium inventory is set to be boosted by an initial resource estimate for the Four Mile discovery in the South Australian outback.
The area is held by Alliance Resources and the US group Heathgate, via its exploration arm Quasar Resources.
Four Mile is so named because that is its distance from Heathgate's Beverley uranium mine.
High-grade uranium hits at Four Mile, and betting by the market that it could eventually prove the biggest uranium deposit of its type in the world, put a rocket under Alliance's share price last year. Its shares rose from 17c at the start of the year to $1.83 by year's end. Yesterday they rose 8c to $1.91, valuing the company at $467 million.
Businessman Ian Gandel controls about 36 per cent of Alliance which, ahead of the 2005 discovery of Four Mile, was best known for its Maldon gold project in Victoria.
Alliance has a 25 per cent free-carried interest in Four Mile. Quasar is the project's operator and a 75 per cent partner in the find. Quasar's parent Heathgate (itself part of US group General Atomics) is the owner-operator of Beverley, which produced 854 tonnes of uranium in 2005-06.
Quasar has been working towards producing a compliant inferred resource estimate for the high-grade part of the Four Mile West zone. The estimate was expected to be released in December but it has been delayed to "early in the new year".
The delay was blamed on hold-ups in chemical analyses from the Australian Nuclear Science and Technology Organisation's laboratories in Lucas Heights, Sydney, and the need to verify the data, Alliance has told the market.
Alliance would not comment yesterday on what the initial resource estimate might be. But in the past it has referred to Four Mile as "Australia's premier uranium discovery".
While the initial resource estimate will be based on a small section of the Four Mile West area which has been drilled on 100 metre by 100 metre spacings, it is the expected high grade of the initial resource estimate that could again fire up market interest in the find.
And while Alliance has not made any estimate on the eventual size of Four Mile, there has been speculation - and that is all it is - that it could eventually weigh in at more than 40,000 tonnes of uranium. That would be equivalent to four years of current Australian production from the Olympic Dam, Ranger and Beverley mines.
Among Australia's undeveloped uranium deposits, only Kintyre (Rio Tinto) and Yeelirrie (BHP Billiton) in Western Australia would rank bigger. Both date from the 1970s uranium exploration boom/bust and are on hold because of the West Australian Labor Government's ban on uranium mining.
cheers laurie
