Ann: $71.3 million Offer from Quasar for ACE's Four Mile Interest, page-129

First 129 Last

Share
Profile

Follow
chrisCarter

935 Posts.

57

03/07/15

09:45

Post #: 15574558
Share

Originally posted by chrisCarter ↑

More AGS news. It's behind a paywall so I'll copy and paste a small part of the article relevant to AGS.

Alliance Resources (AGS) 12.5c
Over the years the uranium caper has been much more fun for investors in the exploration chase, rather than the drudgery of actually mining the toxic substance.
When Alliance’s 25 per cent Four Mile mine in the Flinders Ranges began producing in November last year — the first new local uranium pit in decades — it should have been a crowning moment.
Instead, Four Mile has been a saga of acrimony and litigation between Alliance and its 75 per cent partner Quasar Resources, a local offshoot of the secretive US General Atomics. Justifiably, Alliance last year decided to shed its stake, resulting in Quasar exercising its pre-emptive rights with a low-ball $57.6 million offer.
That was quickly rejected and the hard-arsed Yanks yesterday returned with a $71.3m offer, including the $25m value of Alliance’s share of uranium oxide concentrates already mined.
The Alliance board hasn’t spat this one out and is “seeking advice”, which presumably means a courtesy call to its 25 per cent holder, Ian Gandel.
Alliance bears a market cap of only $50m despite the shares spiking 50 per cent yesterday.
Meanwhile, Energy Resources Australia (ERA, 40.5c) still commands a $200m valuation despite 68 per cent holder Rio Tinto last month pulling support for a lifesaving extension of the Ranger mine in the NT.

Source: http://www.theaustralian.com.au/bus...ad-for-investors/story-e6frg9lo-1227425900301

Expand

Little bit more from the article:

"We rate ERA a sell and Alliance and Paladin as specbuys.
With Alliance, we wonder whether General Atomics has sniffed the onset of a sustained price recovery and are willing to pay more."

AGS Price at posting: 12.5¢ Sentiment: None Disclosure: Held
9 Upvote

0 Great analysis

Reply

Top Stories

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

I88

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

MDI

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

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

SKS

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

BHP

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

Bitcoin investors need to know the risks

IMM

Immutep reports strong response rate from immunotherapies treating carcinomas

NIM

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

AII

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

There are more pages in this discussion • 275 more messages in this thread...

First 129 Last

Add AGS (ASX) to my watchlist

Ann: $71.3 million Offer from Quasar for ACE's Four Mile Interest, page-129

Top Stories

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

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

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

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

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

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

Bitcoin investors need to know the risks

Immutep reports strong response rate from immunotherapies treating carcinomas

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

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

Featured News