AGS - Alliance Resources

[Sean K]

Ann out but it's just in regard to the appointment of a consultancy firm to conduct a scoping study, leading to PFS. 'Mineral resources estimate for the higher grade zone at 4MW is well advanced'. I think we were all expecting the JORC. Looks like it's going to gap up, but disappointing to me. The JORC was supposed to be last year. Perhaps it's going to be a seperate ann by Quasar??

 

[Halba]

How does one do a scoping study without a JORC? Hmm not much in that announcement. Looks like a bit rampy without any numbers if I'm correct. Still has to do PFS, BFS, lets not get too excited. Again AGS has delivered nothing new in 2007, and they've had four months.

 

[spooly74]

Ann out: Alliance, Quasar move to scoping study on MAJOR SOUTH AUSTRALIAN URANIUM DISCOVERY.

Study to take 8 weeks and lead to a Pre-Feasibility Study and Mining Lease applications during 2007.

With a $14 million dollar drilling program this year for B4 East and B4South I`m confident that AGS are well on their way to mmining

 

[Sean K]

How does one do a scoping study without a JORC? Hmm not much in that announcement. Looks like a bit rampy without any numbers if I'm correct. Still has to do PFS, BFS, lets not get too excited. Again AGS has delivered nothing new in 2007, and they've had four months.

They actually state that the scoping study will start 'following the release of the maiden resource estimate'. So it must be at hand obviously.

 

[mmmmining]

How does one do a scoping study without a JORC? Hmm not much in that announcement. Looks like a bit rampy without any numbers if I'm correct. Still has to do PFS, BFS, lets not get too excited. Again AGS has delivered nothing new in 2007, and they've had four months.

Just show the commitment from Quasar, get people lineup for scoping as soon as they can release the maiden resource estimate. Or it is just a promise.

The scope study only happened after the resources estimate.

 

[Halba]

Ann out: Alliance, Quasar move to scoping study on MAJOR SOUTH AUSTRALIAN URANIUM DISCOVERY.

Study to take 8 weeks and lead to a Pre-Feasibility Study and Mining Lease applications during 2007.

With a $14 million dollar drilling program this year for B4 East and B4South I`m confident that AGS are well on their way to mmining

Can we get more rampy or what? Sorry and being a bit kennas on AGS but I don't see any numbers!! This discovery was made in 2005, why recycle old info?

 

[Sean K]

Can we get more rampy or what? Sorry and being a bit kennas on AGS but I don't see any numbers!! This discovery was made in 2005, why recycle old info?

Correct, no need to rehash old info.

Scoping study seems to be new to me though.

Still disappointed that Quasar haven't got the JORC out earlier, but the reasons were ANSTO being busy and issues with the logging tools earlier. We're complaining about AGS here, but it seems to have been Quasar's problems really. It is their project isn't it.

 

[Halba]

Scoping doesn't mean too much without any results from scope study, even MTN is doing a scope study market value $200m on 80 million pounds 100% owned in same area. Arguably AGS was priced at a premium prior to this ann(on currently known drills/results).

 

[spooly74]

can we get more rampy or what? sorry and being a bit kennas on ags but i don't see any numbers!! This discovery was made in 2005, why recycle old info?

Fair enough,
I should have waited until they release their upcoming JORC.

I`ve seen far worse ramps though

 

[insider]

Was that report a ramp? Kennas as moderator can you remove their announcement?

What I want to know is how did the Premier of SA AKA the boring state know of this discovery before it was available to shareholders... not fair

 

[nizar]

This discovery was made in 2005, why recycle old info?

Simply really.
To ramp the share price.
Seems to have worked up 18% at the open.

 

[Sean K]

Was that report a ramp? Kennas as moderator can you remove their announcement?

What I want to know is how did the Premier of SA AKA the boring state know of this discovery before it was available to shareholders... not fair

LOL. Yes, I will tell AGS not to put words like 'largest' in their announcements in the future. I'll also ensure that all the newspapers refrain from the same. Cheers. You're right about the gov knowing of the ann, but it was brought out before the open, so alls fair.

 

[Halba]

Seems to have worked up 18% at the open.

Won't work over time.

 

[laurie]

On since .14c so the chicken has layed its eggs for me READ BETWEEN THE LINES and you will find its a goer $$$$$$$$$

cheers laurie

 

[laurie]

Won't work over time.

Has for me Halba :

cheers laurie

 

[Sean K]

I put this up last week, or on the weekend, and it's gapped up to the red circle for the minute. I would be happy if it just holds above $2.05 resistance.

Longer term this gap up is a good move, but as Halba is alluding to, the market cap is getting a bit hexie on a not released JORC. The JORC and any comments they make about the future prospects of Arkaroola will be important to determine if Mr Market thinks it should have a market cap approaching $600m. If Quasar/Heathgate want to take this over they will have to work fast.

 

[captjohn]

Don't be too hard on 'em guys....but Wowie ...20% up for announcing scoping study.......sets precedent for others including BMN when its time comes around..

 

[Halba]

Don't be too hard on 'em guys....but Wowie ...20% up for announcing scoping study.......sets precedent for others including BMN when it's time comes around..

Correct captjohn. When BMN ann scoping study +20%. Bear in mind if AGS goes up 20%, its only 25% owned, so thats like going up about $400m dollars (if it was 100% owned). $400m dollars value increase, and not even scoping study results.

 

[captjohn]

Correct captjohn. When BMN ann scoping study +20%. Bear in mind if AGS goes up 20%, its only 25% owned, so thats like going up about $400m dollars (if it was 100% owned). $400m dollars value increase, and not even scoping study results.

Thanx halba..... Question?Sso where does scoping study fit in between confirmed resources and feasibility study??

 

[Prospector]

Well, our 'beloved' good news Mike (aka the premier - small caps deliberate) was champing about this all over the weekend - the biggest find in Australia he said. Wonder if a premier can be given a speeding ticket from the asx, or even be accused of insider trading.