Ann: Four Mile - ACE Not Contributing To 2015 Program And Budget, page-7

First 7 Last

Share
Profile

Follow
Metalduster

7,857 Posts.

392

20/11/14

10:02

Post #: 14319975
Share

Originally posted by spruik ↑

The Board of Directors of Alliance Resources Limited (“Alliance”) has, reluctantly, resolved that its wholly owned subsidiary Alliance Craton Explorer Pty Ltd (“ACE”) should elect not to contribute to the Four Mile Uranium Project 2015 Program and Budget for the period 1 December 2014 to 31 December 2015 (2015 Program and Budget). This decision has been forced upon it due to Quasar Resources Pty Ltd's (“Quasar”) refusal to sell ACE's share of product from Four Mile (thereby depriving ACE of funds that it would have used to defray those expenses). The impacts of this decision are:

ACE will have no outgoings associated with Four Mile after December 2014 until 1 January 2016 (but may recommence contributions as at 1 January 2016); and

ACE's interest in the Four Mile Mine Development Area will reduce from 25% to approximately 15% by 31 December 2015 (based on the 2015 Program and Budget forecast expenditure).

This decision does not preclude ACE participating in programs and budgets beyond 31 December 2015, albeit at its reduced equity at that time and ACE will maintain its 25% interest, and continue to be free carried for exploration, in the area outside the Four Mile Mine Development Area.
ACE estimates its share of production from Four Mile as:

from commencement of mining to 30 November 2014, 367,1191 pounds (lbs) with an estimated value of $16.3 million2; and
from 1 December 2014 to 31 December 2015, 502,422 lbs with an estimated value of $22.3 million2;
being a total of 869,541 lbs with an estimated value of $38.6 million2.

Expand

EFF it
Md

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

0 Great analysis

Reply

Top Stories

IMM

Immutep reports strong response rate from immunotherapies treating carcinomas

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

AII

Almonty locks in govt agreement for tungsten oxide plant in South Korea

BHP

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

ASX hits all time high out the gate on Friday trades following bullish US inflation data

SKS

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

NIM

Nimy to raise $1.21M to explore 'newsy' WA targets

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Bitcoin investors need to know the risks

MDI

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

There are more pages in this discussion • 288 more messages in this thread...

First 7 Last

Add AGS (ASX) to my watchlist

Ann: Four Mile - ACE Not Contributing To 2015 Program And Budget, page-7

Top Stories

Immutep reports strong response rate from immunotherapies treating carcinomas

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Almonty locks in govt agreement for tungsten oxide plant in South Korea

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

ASX hits all time high out the gate on Friday trades following bullish US inflation data

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

Nimy to raise $1.21M to explore 'newsy' WA targets

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Bitcoin investors need to know the risks

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

Featured News