AGS - Alliance Resources

[Tarna]

Im new here so be gentle,,, what's happening at Maldon? heard that they are close to x-cutting into the ore body,, anyone?

 

[ChomChom]

Good news for the australian Uranium miners and AGS in particular

http://www.theaustralian.news.com.au/story/0,25197,24259286-5005200,00.html

Uranium mine gets nod from Peter Garrett
Matthew Franklin, Chief political correspondent | August 29, 2008
THE man who made his fortune singing about his distaste for uranium mining yesterday gave his personal approval for the expansion of South Australia's Beverley uranium mine.

Peter Garrett, previously the lead singer with Australian band Midnight Oil, yesterday completed his transition from activist to pragmatic establishment politician by ticking off Heathgate Resources' expansion plans in his role as the Rudd Government's Environment Minister.

Mr Garrett, who was also a founding member of the Nuclear Disarmament Party, said he was satisfied the rigorous scientific process had been conducted to examine the proposal and that he had imposed conditions requiring the company to monitor the effects of its operation on ground water.

Mr Garrett has a long history of activism against uranium mining and nuclear weapons and at last year's Labor Party conference voted against the party's push to dump its no-new-uranium-mines policy.

Midnight Oil was well known for political activism and achieved success with songs critical of nuclear weapons, the treatment of Aborigines and the environment, and Australia's support for US security policy. In one song - The Dead Heart - the band championed the cause of indigenous land rights, complaining that "mining companies, pastoral companies, uranium companies, collected companies" had more rights than people.

But as Labor went to last year's election opposing nuclear power stations in Australia but backing expansion of uranium mining for exports, he has had to repudiate his earlier views, saying last night that he was a team player.

As Environment Minister, Mr Garrett has a statutory responsibility to approve the construction or expansion of uranium mines.

"Based on the advice and information that I have made my decision on, including reports from the CSIRO and Geosciences Australia, and further independent advice from the Chief Scientist, I am satisfied that the tough conditions attached to this approval will ensure the highest standards of environmental management by the mine operator," Mr Garrett said in a statement. "One of those conditions is the requirement that Heathgate Resources implements a rigorous monitoring program to demonstrate they are meeting the agreed environmental outcomes."

Mr Garrett said the approval would make little difference to operations at the Beverley processing plant and production output would remain within the existing approved level of 1500tonnes.

Asked late yesterday to reconcile his decision with the views he advocated during his recording career, Mr Garrett said his personal views were well known.

"For instance, I did oppose the change in policy at the party conference last year but I also made it clear that if it was the democratic will of the party that the three-mines policy should change that I would support it," Mr Garrett said.

He said his duty as the minister responsible for regulating the mine was to ensure the Government set the best environmental standards possible. "I will always prosecute the polices of the party in which I am a team player, ensuring world's best practice environmental protection in the process," he said.

What do you think?

 

[Go Nuke]

Ah so thats why AGS is having a good day.

Hmm, i'm confused though.
He's approved an expansion for Beverley but it says towards the bottom

"Mr Garrett said the approval would make little difference to operations at the Beverley processing plant and production output would remain within the existing approved level of 1500tonnes.

So does that mean they have a licence to mine up to that amount and are currently mining less than that?
Obviously I have no idea how much Uranium the Beverley mine produces. (And cant be bothered finding out right now)

And I see a story today about the greenies trying to put pressure on the government NOT to sell our Uranium to Russia becasue of the goings on in Georgia.
I don't think they will get far though....Money talks.

And a story also from todays paper about mining U in W.A.
Bet those guys who bought the Kintyre project might look like mugs soon...eh kennas

http://news.theage.com.au/national/wa-parties-battle-over-uranium-mining-20080826-42tc.html

I'm just waiting for more tie in's in regards to people with Nuclear = less CO2.

Its like if you want something done and work and you don't get anywhere with it...just call it a "Health & Safety" issue.
Lots of attention is paid then

 

[ChomChom]

Seen on another forum: http://www.hotcopper.com.au/post_single50.asp?fid=1&tid=734946&msgno=3257964

For what it's worth...

[...] stated that Heathgate were expanding the Beverley mine and that Garrett had approved the application, it then went on to say that a 2nd application has already been lodged by Heathgate's for their affiliate company Qasar for development of the Beverley Four Mile deposit, which is AGS

Sorry to spoil the party but have to wait a little longer, of course the approval yerterday is a big plus for obvious reasons

 

[laurie]

Hmm, i'm confused though.
He's approved an expansion for Beverley but it says towards the bottom

"Mr Garrett said the approval would make little difference to operations at the Beverley processing plant and production output would remain within the existing approved level of 1500tonnes.

simple really maybe they are running out of ore and require B4 Mile to boost it back up to 1500T

cheers laurie

 

[skunkmonkey]

$0.65 today! What a spectacular fall given the Liberals in WA. Here's hoping for 70 cents by the end of the year and fingers crossed, it might get back up to a dollar one day

 

[Sean K]

Significant bounce today, after being significantly crucified on Friday. Should have seen that coming...

One of the few uranium hopefulls to actually get to a decision to mine.

25 September 2008
FOUR MILE URANIUM PROJECT - DECISION TO MINE

 Feasibility Study recommends development of the Four Mile project using In-Situ Recovery (ISR) methods as the optimum basis for development.
 Uranium concentrate production proposed to commence in January 2010, ramping up to 3M lbs U3O8 per annum within three months.
 It is proposed to construct a satellite pre-processing plant close to the Four Mile deposits to recover uranium from ISR mining solutions for transport to the existing Beverley uranium processing facility for further processing, drying and packaging of uranium concentrate.


Similar looking chart to a lot of other explorers hitting 3 year lows on Friday.

$0.75 ish looks to be a hurdle on the way back up, if it occurs.

 

[Go Nuke]

Well the bounce HAD to come for AGS because as u stated Kennas, its at least going to make it to the mine stage in a great mineral rich and politicaly stable country of Aus

It was just looking yay too cheap.Actually Ags and Bmn are right next to each other on my watchlist and they were following each other price wise for a time there.

Not sure as to the difference with shares on issue between the 2 but still vastly different companies considering the price.

Are u enjoying cocktails at the moment Kennas?
I am, in Cairns
Posting these from my mobile phone is so slow

 

[Sean K]

Nice bottomy looking thing happening there.

Breaking up, maybe.

For the minute.

Can we trust any break at the moment?

 

[spooly74]

Nice bottomy looking thing happening there.

Breaking up, maybe.

For the minute.

Can we trust any break at the moment?

Looks good atm and I think the ann this morning was prudent in the current environment.

This stock hates gaps though and loves to come back and fill em. Some improvement in the U spot could build a solid support base or continued confirmation of the high grade resource at FMwest would do the trick.

 

[maungatapu]

Looks good atm and I think the ann this morning was prudent in the current environment.

This stock hates gaps though and loves to come back and fill em. Some improvement in the U spot could build a solid support base or continued confirmation of the high grade resource at FMwest would do the trick.

I reckon it will come back and fill in the gaps. Never a good sign rising on decling volume. Sept spot price U3O8 $US65 Oct 24 spot price $US45. What is needed is an increase in U3O8 price and the Ozzy $ to stay as it is. Still a good stock to put in the bottom draw.

 

[maungatapu]

http://www.stockhouse.com/Community-News/2008/October/21/When-is-the-uranium-price-going-up.
Found this article very interesting. looking at it from buyers & sellers point of view. Also the dismantling of US atomic weapons and dumping uranium on the market. Something that not many people realise is going to happen.

 

[Sean K]

Nice bottomy looking thing happening there.

Breaking up, maybe.

Breaking 60 looked important.

Nice move, but probably more related to general market recovery.

Would have been a nice pick up at 30c....

 

[maungatapu]

Managing director John Borshoff told AAP that he was nonplussed by variations in the spot market price for uranium, predicting it would rebound from $US46 a pound this week to $US90 per pound in 2009.

Mr Borshoff said the price had started to recover from recent lows of $US44 per pound and would approach $US60 per pound by the end of the year.

He said the uranium spot market was very small and gave consumers the opportunity to top up their inventories.

The vast majority of uranium sold through long-term contracts.

Supply would be tight in the foreseeable future, with "almost all major companies failing to achieve targets", he said.

Mr Borshoff said uranium was one of the few commodities where demand "hadn't changed that much".

There were signs that India's demand would strengthen, while the outlook for demand from China, Russia and Middle East was also positive.

"Most of the growth is coming from those areas, and even the Americans are not backing off," Mr Borshoff

Interesting comments from the MD of Paladin.

 

[Sean K]

Breaking 60 looked important.

Nice move, but probably more related to general market recovery.

Would have been a nice pick up at 30c....

Cripes 60 didn't last long.

Back on the downtrend quickly.

POU needs do a U....

Found this brief summary of AGS in the email this am.

Alliance Resources (AGS) - $0.60
November 2008
· AGS has a 25% free carried interest in the potentially very
large and high grade Four Mile Uranium Project located
within eight kilometres of Beverley SA, one of Australia’s
three producing uranium mines.
· Development of the Four Mile Project using In-Situ Recovery
(ISR) methods is proposed to commence in January 2010 at
an initial rate of 2.6Mlbs of U3O8, increasing to 3Mlbs per
annum after three months.
· Underground operations at the Maldon Gold Project in
Victoria have been suspended. The decision has been
made in light of the deteriorating global capital markets; the
Board considers it prudent to preserve the company’s cash
reserves in preparation for the upcoming development of the
Four Mile Uranium Project.
· Drilling of Four Mile West continued with a number of
significant uranium intercepts, including an extension to high
grade mineralisation in the western part of the deposit.
Mineralisation remains open to the west, north and south.
High grade mineralisation was also encountered in the far
western portion of the deposit, confirming the potential for a
significantly larger resource.
· The company has appointed a new Managing Director, Mr
Patrick Mutz. He has more than 30 years experience in the
international uranium industry and was previously Managing
Director of Uranium Exploration Australia Ltd. Prior to this,
he was the MD of Operations at Heathgate Resources Pty
Ltd and therefore has first-hand experience of the Beverley
operations.
· Cash reserves total $20.1m at the end of the September
quarter.
Recommendation: Buy
AGS has funds available to finance the majority of its share
of the initial capital cost of the Four Mile Project. Shares
are trading at a significant discount to assessed
value.

 

[Sean K]

Cripes 60 didn't last long.

Back on the downtrend quickly.

Perhaps these charts don't mean a lot, because the last potential break out mentioned died in the arese rather quickly.

We're now looking at another one, with cracking those red lines the key imo.

Having ridden this from around 15c to $2.50 previously, would love to jump on the next break up.

(doubt POU will go back to $150 like it did again though, so maybe not...)

 

[champ2003]

Perhaps these charts don't mean a lot, because the last potential break out mentioned died in the arese rather quickly.

We're now looking at another one, with cracking those red lines the key imo.

Having ridden this from around 15c to $2.50 previously, would love to jump on the next break up.

(doubt POU will go back to $150 like it did again though, so maybe not...)

Hi Kennas,

On both the 1yr and 2yr charts that i have the downtrend has definitely been broken.

JORC upgrade coming up as well as scoping study by AGS. The price of U will tick up soon as well IMO.

Another thing regarding spot price. AGS will be the next U producer and so we now go by the long term price of U which is what their contracts are based on.

All good for AGS.

Cheers!

 

[Sean K]

Almost a month later and she's still butting up against this resistance. Although, maybe this horizontal lines a bit higher...

An EW'er might see 5 waves in the downward trend, unless 3 is the shortest. Either makes me wonder whether EW is bogus, or the chart lies.

Looks even more bottomish now.

But, who knows.....

 

[Sean K]

Almost a month later and she's still butting up against this resistance. Although, maybe this horizontal lines a bit higher...

Looks even more bottomish now.

But, who knows.....

Looks like it's about to pop. Still needs to break 75 probably.

I've been waiting for overall market pullback...

Maybe that was it...

 

[Sean K]

I put this in the pennants and flags thread I think, as it's a serial pennant and flagger. Serial!

What an outstanding run since the bottom.

Could have made a bucket on this baby playing pennants.

Can't keep going like this though you'd think. There is always a top.