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Quasar to keep its Four Mile secrets

By: Esmarie Swanepoel
27th March 2012

PERTH (miningweekly.com) - The Federal Court of Australia on Tuesday ruled against ASX-listed Alliance Resources in its bid to seek access to certain documents relating to the Four Mile uranium project, in South Australia, from manager Quasar Resources and previous manager Heathgate Resources.

Alliance has been embroiled in a number of legal battles against its development partner Quasar, including an application to the Supreme Court of South Australia to record joint venture (JV) management meetings, to enter into native title agreements, the registration of the native title agreements, as well as access to the books, records and agreements pertaining to the JV.

In February this year, Alliance settled the native title agreement dispute for the Four Mile uranium project, with the project now registered by the South Australian Mining Registrar.

Alliance said on Tuesday that despite the Federal Court ruling against the company’s application to obtain access to the books, orders have been made for some discovery from Quasar and Heathgate.

No order had been made on the application for interrogatories which had been held over to a date to be fixed.

Reasons for the judgments were expected on April 4.

The Four Mile project was initially targeted to start production in April of last year, after being cleared for development by the federal Environment Minister. The project was forecast to produce some 1 400 t/y of uranium, at a development cost of A$210-million.

The Four Mile project is estimated to host some 71-million pounds, or 32 000 t of uranium oxide, excluding the Four Mile West and Four Mile South deposits.

Edited by: Creamer Media Reporter

http://www.miningweekly.com/article/quasar-to-keep-its-four-mile-secrets-2012-03-27