Checked the SA mining lease register - no written approval till...

Checked the SA mining lease register - no written approval till now. My original post was conjecture as I don't have 100% proof. It was based on the following:

# Understanding Gandel from the early days as an AGS investor in the failed attempt at chasing veins at Maldon & the early days of ALK where he has financially helped transform this into today's opportunity. You get to gauge for a persons identity & his motivations.

# His intent on controlling his own destiny with the buyout of shareholders in Alliance. I think it would be in $30-40m range so he likes to have control. He is definitely committed to this project.

# The Alliance board & management don't come cheap. First time I have noticed that ALK's Lethlean is in the mix.

Board and Management Team
Ian Gandel, Chairman
Ian is a mining entrepreneur with 25+ years in the exploration and mining industry. He is also the NonExecutive Chairman of Alkane Resources Ltd.
Kevin Malaxos, Managing Director
Kevin is mining engineer with +30 years in open pit and underground mining, project approval, project
management and corporate roles in owner mining and contractor capacities. Previous roles include
Centrex Metals, Mt Gibson Iron, Byrnecut Mining and WMC Resources.
Tony Lethlean, Director
Tony has 25+ years in underground mining, stockbroking and project finance, including CIBC World
Markets. He is also a Non-Executive Director of Alkane Resources Ltd.
Bob Tolliday, CFO and Company Secretary
Bob is a Chartered Accountant with 30+ years in accounting, audit, corporate finance, including with
KPMG and Pitcher Partners.
Anthony Gray, Exploration Manager
Anthony has 20+ years in exploration and mining geology. Previous roles include with WMC, Barra
Resources, Breakaway Resources and Octagonal Resources. Anthony is responsible for the exploration
program development and implementation for Alliance.
Tony Ford, Engineering Manager
Tony has 30+ years Engineering and project management experience in open pit and underground
operations in hard rock gold and base metal operations and coal

# His project has a lot of scope to grow from this initial phase which appears to be their objective. Good exploration gold drill hits & scope for more finds as this type of mineralisation occurs in clusters. Noted that estimated cost of initial capex was in the $40m area.

# His investment path e.g. share fire sales, project selection, etc has not always been the optimum choice. At the end of the day, as long as the wins are greater than the losses.

I am sure there will be more slight pain down the track for shareholders in ALK and I am happy to see him transition out of this space of have less control. I still firmly believe that is an opportunity for ALK like various others. We move forward into what matters for us !