AGS - Alliance Resources

[Broadside]

Whatever method you use, their share of the deposit was only 8 million pounds. Needs to prove up more ore

No kidding. And the $14m drilling program will do just that. If you just base a valuation on JORC without allowing for probability of extension of resource you are 2 steps behind the market because someone is already doing that. Of course there are no certainties, but you play the probabilities, which in this case are very high.

I'll tell you where I see the risk - not in the resource, in my opinion it will be very big and highly economic. I believe the current JORC has only scratched the surface. I think the risk lies in the fact Heathgate controls 75% and they control the agenda, do they want to mine as soon as possible, are are they happy to sit on this a while, if they hold the view the Uranium price is going to go higher and higher over time? What I mean is, there is a chance that Heathgate and AGS' interests do not align. They should align, but who knows what a private company is thinking?

As for the resource itself, I think that will be proven up and will more than justify the current capitalisation and then some.

 

[spooly74]

I'll tell you where I see the risk - not in the resource, in my opinion it will be very big and highly economic. I believe the current JORC has only scratched the surface. I think the risk lies in the fact Heathgate controls 75% and they control the agenda, do they want to mine as soon as possible, are are they happy to sit on this a while, if they hold the view the Uranium price is going to go higher and higher over time? What I mean is, there is a chance that Heathgate and AGS' interests do not align. They should align, but who knows what a private company is thinking?

From Heathgates point of view there is no advantage to delaying production on B4mile. Currently sitting on over 3 billion IGV which could double by years end.
They only have about 10 years left on the current Beverley mine and imo are in a perfect position to capitalise on a rising U price (till 2011 imo)
Heathgate need only apply for an extension to the current mine to handle ISL from B4 east.
Because of the high grade in the west they can have an open pit operation running at the same.
If they get a mill capable of processing a modest 1500tp day, they could be finished the west in just over 6 years.....that's the beauty of the high grade.
Other companies who have say an average of 250ppm using a similar mill, for a similar deposit would take 105 years, of course though, they would just get a bigger more expensive mill to do the job.

I guess it depends at what stage of development they can lock in prices.

The big spend on the drilling program this year imo means business....but nobody loves it at the moment.

 

[Go Nuke]

Looks to me like its falling through support at $1.90 mark.

Would the next level of support be at $1.60 ish???

I too hold a small share of AGS and one reason is that Im a firm beliver that this will turn into a mine one day. They have so much more drilling to be done.

Though in hindsight, i probably should have sold off when it fell through $2.20.

 

[bigdog]

ASX ANN June 15
15-06-2007 09:37 AM AGS Four Mile Uranium Project Update & Media Release
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00729984

The market liked ANN first up this morning
AGS $1.92 +$0.15 +8.47% 348,051 shares $ 666,684 @ 15-Jun 10:01:38

READ LINK FOR FULL DETAILS

FOUR MILE URANIUM PROJECT
NEW HIGH GRADE ZONE OF MINERALISATION – FOUR MILE EAST
Highlights

Drilling continues at Four Mile East with a ‘new’ high grade zone of uranium mineralisation intersected in the southern area of the prospect.

High grade intersections from Four Mile East include:
4.5 metres grading 0.59% pU3O8
2.7 metres grading 0.55% pU3O8
5.0 metres grading 0.22% pU3O8
2.4 metres grading 0.43% pU3O8
1.6 metres grading 0.63% pU3O8
3.3 metres grading 0.28% pU3O8
(pU3O8 refers to the U3O8 grade as estimated from PFN logging and may be subject to revision by application of
calibration correction factors)

Major step-out drilling program utilizing up to four drill rigs continues at Four Mile East to define the limits of mineralisation with the aim of estimating a mineral resource at Four Mile East during 2007.

Media Release – Alliance Announces Further High-Grade Uranium Results from Four Mile East
ALLIANCE ANNOUNCES FURTHER HIGH GRADE
URANIUM RESULTS FROM FOUR MILE EAST
SIGNIFICANT NEW HIGH-GRADE ZONE DISCOVERED IN SOUTHERN AREA

• Further excellent drilling results with a new high grade-zone of uranium mineralisation intersected at the southern area of Four Mile East Prospect.

• High-grade mineralization has a similar north-east orientation to the high-grade zone at Four Mile West (3.9 million tonnes at 0.37% U3O8).

• Major step-out drilling program continuing at Four Mile East to define the limits of mineralization at Four Mile East and underpin an initial resource estimate.

 

[spooly74]

Decided to grab some more today.

The latest couple of drilling reports suggest to me that Quasar have a good grasp on the geology of B4East.
They have been drilling about 30 holes a month and in the last report found some more excellent grades to the North and South of previous drilling in that area.
On the image you can see there has been little or no drilling near these new hits plus no drilling to the East of one of their best grades which was 25800ppm.

Hoping that some more results around this new area plus the scoping study (due anyday but not holding my breath) is enough to stop the rot.

An application for mining lease will be off in the post soon and a possible JORC for B4East could be on the cards late in the year.

The MACD, Stochastics and RSI also look encouraging....but the obvious downtrend looks terrible.

 

[Out Too Soon]

Well here's hoping the sp has well & truly bottomed out, I'm holding from just over $2 thinking that was the support level, what I get for trying to pick bottoms I suppose. Patience is the only answer with this one for now.

 

[Fab]

Well this one is starting to move up strongly. Almost 6% at the moment. Can anyone explain why this is happening today ?

 

[chicken]

You know what is said..the gap will allways be filled......look at the gap of AGS....between $2.45 and $2.75.....technically....it will be filled maybe sooner than later if the news is good

 

[powerkoala]

ags was oversold when it touch 1.60 area though.
maybe this is the turning point? today's volume is increasing more than days before.
any thought?

 

[bigdog]

ASX announcement today

25/07/2007 Four Mile Uranium Project - Update June 2007
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00741692

FOUR MILE URANIUM PROJECT - JUNE 2007 Highlights
High-grade uranium intercepts continue at Four Mile East, including:
3.1 metres grading 0.44% pU3O8
1.9 metres grading 0.50% pU3O8
2.7 metres grading 0.34% pU3O8
1.0 metres grading 0.69% pU3O8
1.7 metres grading 0.39% pU3O8
(pU3O8 refers to the U3O8 grade as estimated from PFN logging and may be subject to revision by application of calibration correction factors)

Mineral Claim pegging over Four Mile has commenced.
Major step-out drilling program utilizing up to four drill rigs continues at Four Mile East to define the limits of mineralisation with the aim of estimating a mineral resource at Four Mile East during 2007.

Media Release
FURTHER SIGNIFICANT URANIUM RESULTS EXTEND HIGH-GRADE ZONE AT FOUR MILE EAST TO +900 METRES

HIGH-GRADE URANIUM INTERCEPTS; COMMENCEMENT OF MINERAL CLAIM PEGGING
• Additional high-grade uranium intercepts at Four Mile East.
• Significant progress achieved on major step-out drilling program with 37 holes completed in June.
• Mineral Claim pegging commenced ahead of Mining Lease applications.
• Initial drilling completed at new uranium prospect north east of Four Mile East.

 

[Go Nuke]

Yes more good news for AGS followers.
Its a shame Uranium isn't as hot as it once was.....for the time being.

My chart might be a bit rough but it looks to have possibly broken out of its downward trend and if you were working with countback lines, you could possibly take the chance at an entry.
However the short termers have only pushed into the long termers not broken above the long term averages.

I'd like to see it sit above the $1.90 mark, however as I said people seem to have gone off Uranium atm so the price might not stay up there.

Does anyone know how long it might take to peg out for a mining lease?

 

[eMark]

Just a moan and a grumble. I bought this YESTERDAY at $1.90, and now as I type it's $ 1.795. I do hope the current weakness does not continue.

 

[powerkoala]

Just a moan and a grumble. I bought this YESTERDAY at $1.90, and now as I type it's $ 1.795. I do hope the current weakness does not continue.

can't expect AGS to fly high. current uranium price down $10. XAO get smashed twice in a row. even with such good news, we will see AGS goes lower.
still holding though

 

[Fab]

Indeed . Here are some more good news which should help AGS rebound faster than other stocks.

http://www.minebox.com/story.asp?articleId=9817

 

[wllmtrish]

Only wish i had more ready cash to accumulate AGS at these prices. The fundamentals keep improving with drill results Soooooo it has to rebound strongly; when the world market tremors settle i suppose.
I hold big time AGS. Good luck all holders.
dyor

 

[drmb]

Only wish i had more ready cash to accumulate AGS at these prices. The fundamentals keep improving with drill results Soooooo it has to rebound strongly; when the world market tremors settle i suppose. I hold big time AGS. Good luck all holders. dyor

Here's announcement to bring hope

NEW GOLD REEF DISCOVERY AT MALDON
Maldon Gold Project – New Gold Reef Discovery at Maldon – Alliance Unveils High-Grade Gold Discovery at Maldon Gold Project

Highlights
- New high-grade gold lode discovered in Ladies reef as follows: 2.75m @ 22.10g/t gold
- New lode lies just 140m west of existing Union Hill exploration decline.
- Follow-up underground diamond drilling planned to define the geometry and the limits of the gold mineralisation.
- Potential for rapid development from the existing decline to provide early mill feed for Alliance’s fully permitted Maldon treatment plant.
The Directors of Alliance Resources Limited (“Alliance”) (ASX Code: AGS) are pleased to announce that a new gold lode has been discovered at its 100%-owned Maldon Gold Project in central Victoria some 140 metres west of the current decline. A recent diamond drill hole (DDH 136) was drilled west from the Union Hill Decline, targeting the Ladies and Day Dawn reefs. Gold assays confirm a significant mineralised zone in Ladies reef, associated with its east-bounding (“wall”) fault. The eastern mineralised zone comprises 2.75 metres @ 22.10 g/t gold, with a second zone of 1.00 metre @ 5.38g/t gold
approximately five metres further west. (etc)

I used to hold with a lot of other U stocks but took profit to consolidate to just 2, PDN and BMN but still follow with interest as my no 3 pick. Good luck to all holders

 

[Go Nuke]

Yeah ive been holding AGS since the start of the year. Another good thing I like about the company is its exposure to something other than Uranium.

I was reading a thread somewhere here just the other day, where someone noticed that a few gold miners were starting to pick up.

The price is still in the high $1.60's today but there looks to be good support in the low 60's so I think it can only go up in time from here.

Alliance are continuing to expand on their Uranium and now a further gold find...great news i think

 

[wllmtrish]

Re: AGS - Alliance Resources TOP 20 Shareholders

Looks very very very positive.
Take a look on the AGS web site.
June 07 T20 Total Holding 138,662,955
July 07 T20 Total Holding 139,213,989
Aug 07 T20 Total Holding 140,377,424
6 of the Top 13 shareholders increased their holdings.
7 of the Top 13 shareholders maintained their shareholding.
imho it is just a matter of time and we will be smiling a BIG smile.
dyor I hold AGS (>200,000 shares) and will continue to hold thru to mining.
I also hold CUL EMR RMI

 

[eMark]

Re: AGS - Alliance Resources TOP 20 Shareholders

Looks very very very positive.
Take a look on the AGS web site.
June 07 T20 Total Holding 138,662,955
July 07 T20 Total Holding 139,213,989
Aug 07 T20 Total Holding 140,377,424
6 of the Top 13 shareholders increased their holdings.
7 of the Top 13 shareholders maintained their shareholding.
imho it is just a matter of time and we will be smiling a BIG smile.
dyor I hold AGS (>200,000 shares) and will continue to hold thru to mining.
I also hold CUL EMR RMI

Very interesting. Has anything changed re the above figures for August 8, 9 & 10 over the course of the last couple of days of massive churning in the general markets.

Also I hold at 1.91, so as you can imagine I'm not a happy camper. I would like to believe that this stock from what I've read will improve, and move above $2.00 again, and not back to 90c.

 

[Fab]

Re: AGS - Alliance Resources TOP 20 Shareholders

Very interesting. Has anything changed re the above figures for August 8, 9 & 10 over the course of the last couple of days of massive churning in the general markets.

Also I hold at 1.91, so as you can imagine I'm not a happy camper. I would like to believe that this stock from what I've read will improve, and move above $2.00 again, and not back to 90c.

Why is AGS going down down down at the moment. I can't understand why there is a negative sentiment about it