Let me get this right?, page-3

Yes, the announcement was a seismic shock for long term holders. We didn't see it coming.

I read Barry Fitzgerald's piece in The Australian today to see what logic he had attributed to it. If you're looking for plain logic from a journalist who has followed AGS for longer than most of us, then you'll see that he sees the sale in economic terms - Alliance's need to preserve the $19m we have in cash. He also says that the "fractured relationship" .. with GA is another factor. .. He does also say though that "Alliance did not expand on the reasons for the sale .. " A "no comment" I guess when he rang IG ??

That's the missing bit we're all hoping is more strategic than desperate.

He gives our 25% share a notional value of around $106.5m, using the ground value used in recent transactions of around $US6 a pound and a resource base of 71 million pounds. But he also recognises that "it is reasonably expected that Four Mile's resource base will eventually top more than 100 million pounds."

If the economic explanation for the sale is the main one then we'd have to say that GA has been successful in squeezing us dry. Like others though I'm hoping there's more to this latest move than first appears. ... Worrying nonetheless.