late as usual, page-69

I have re-read the announcement a number of times, and can't help but read between the lines.

Alliance 'does not endorse or accept Quasar’s estimated costs as correct and accurate as those costs were generated internally by Quasar and its affiliate Heathgate Resources Pty Ltd'. This is the (primary) reason for the independent scoping study and the independent resource estimate - Quasar have understated the resource and overstated the costs. Consequently, AGS have commissioned the independent scoping study 'to determine/verify whether the proposed mine development programme and budget proposed by Quasar is fair and equitable and in the best interest of Alliance Shareholders.'.

Quasar clearly have an agenda different to that of AGS management and IMHO are playing hardball to obtain a soft takeover price for the 25% AGS portion of the resource at B4M.

I think AGS management have done what they can and continue to consider all of their options in attempting to maximise the value of the company on behalf of all shareholders, and no doubt they are disappointed with the lack of progress and frustrated with the tactics employed by Quasar.

If you would like some re-assurance about the positive future for the value of the company, send an email with your questions to the AGS team (address available on their website) and I'm sure they will promptly respond to you (like they did to me).