AGS - Alliance Resources

10 year mineral lease granted, that will drive the price above 40c surely.

marioland said:

10 year mineral lease granted, that will drive the price above 40c surely.

Click to expand...

Huge move today. Already at 37.5c. Up ~17%

$8...?

waiting...waiting....

I have a pretty significant investment in this terror ... entry was based on a fairly potent judgement which suggested the JV partner may have been a little more negotiable. But alas Sir Yorok!!!

It is I think so close to suspension because of the endless diatribe re confidentiality, thin trading volumes and very evident personal agendas. I'm am really tempted to push the suspension line because somebody needs to pooh or get off the pot I think...

This is a tough one and I do share the head banging emoticon!!!!

Another day!

AGS has really taken off this morning. Up 5.5c to 16.5c so far today.

Yesterday the company announced some good drilling results. Here are the details:


Some good hits there. 15m at 18.21 g/t is pretty impressive. Could be a lot of potential here.

Takeover bid for Alliance Resources announced yesterday. Gandel Metals Pty Ltd has bid 14c cash per share for all of the fully paid ordinary shares in AGS, valuing it at approximately $21.43 million.

There are rumblings of dissatisfaction by AGS shareholders on other forums so it looks like this might be a hard sell by Gandel.

AGS currently trading at 14.5c, half a cent over the bid price, indicating that the bid by Gandel is undervaluing the company.

greggles said:

Takeover bid for Alliance Resources announced yesterday.

Click to expand...

I noticed AGS up today but didn't look into why …

After a bit of reading some interesting stats come to light.

Abbotsleigh Pty Ltd is AGS major shareholder

Gandel Metals is a subsidiary of Abbotsleigh and therefore has a 32% voting power in AGS

Ian Gandel is the sole Director of Gandel Metals and is also a Director of AGS

So in the TO offer Gandel is trying to put doubt into AGS holders to get them to sell, yet wants to take full control of the Company and delist it ….. seems a lot of unnecessary risk on his behalf

Given the recent drill results, I'd say he's not offering enough cash … an independent report has been commissioned by the non associated Directors ……. the valuation could be interesting …

Given my suspicion of subterfuge at the Spec end of the market, it wouldn't surprise me if the whole event has been carefully planned to showcase the potential value of AGS simply to get the SP to a more realistic level before they need to raise further cash down the track …. If I were a holder, I'd be fairly happy with that plan

On July 19th, 2022, Alliance Resources Limited (AGS) was removed from the ASX's Official List in accordance with Listing Rule 17.14, following compulsory acquisition of its remaining securities by Gandel Metals Pty Ltd.