Ann: Notice of General Meeting/Proxy Form, page-8

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Metalduster

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11/08/15

15:42

Post #: 15786899
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Originally posted by Metalduster ↑

page 35 PPB

Removes the requirement for ongoing funding of a developing mining project

"The Company will no longer have the requirement to fund the Project, unless it elects not to contribute to funding, that has been onerous on the Company with its limited funding resources. Alliance previously has had to revert to the equity market to raise capital to meet its cash calls for the Project.
The Company has contributed approximately $31 million to the Project with no return to date. Revenue from the Project is expected to commence toward the end of calendar year 2015, although the Company will still be required to contribute to development costs at about $2.4 million per month."

imo I don't believe this to be correct. ACE does not have 25%?

Can some one tell me on what percentage PPB value ACE at or do they use the Reduction Process where AGS withdraws from Four Mile, 2025?

.......................................
In the scheme of all this imo ACE/AGS has been placed in a position where a Sale of ACE is the only avenue available to Shareholders.
The Directors have gone to the trouble of having us accept that fair value is 74m ! from a prepared Report !.

That says it all imo

imo Its apparent that the Directors have erred in commencing Court proceedings in the first place and now we pay the price for that error. ie Accept 74m for ACE.

Its disappointing but that's the way it is.!

Md

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The one thing out of all this that's a positive is AGS has come out of this with something. ie (74m)

To take on the BBros and come away with something is a win.

Good Luck All

Md

Last edited by Metalduster: 11/08/15

AGS Price at posting: 13.0¢ Sentiment: Hold Disclosure: Held
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